A Source Document

question 63

Multiple Choice

A source document

• A)is only an external document.
• B)provides transaction data that can be recorded in a database.
• C)is only used to record a transaction between an organization and an outside vendor.
• D)is only an internal document.

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Definitions:

Partnership

A partnership is a legal form of business operation between two or more individuals who share management and profits.

Proprietorship

Proprietorship, also known as sole proprietorship, is a business owned and operated by a single individual, where the owner and the business are legally treated as the same.

Taxed

Describes funds or goods that are subjected to taxation by governmental authorities.

Maximize Profits

The process or strategy used by businesses to ensure they achieve the highest possible profit from their operations.