The Paper Form Used to Capture and Record the Original

question 101

Multiple Choice

The paper form used to capture and record the original data of an accounting transaction is called a(n) :

• A)Input control
• B)Source document
• C)Sales invoice
• D)General ledger

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Definitions:

Chapter 11 Bankruptcy

A form of bankruptcy that involves the reorganization of a debtor's business affairs, debts, and assets, allowing the business to continue its operation.

Apparent Authority

An accountability doctrine whereby a principal, by virtue of words or actions, leads a third party to believe that an agent has authority but no such authority was intended. Also called ostensible authority and agency by estoppel.

Agency by Estoppel

A situation where a person is prevented by their own actions from denying or negating the existence of an agency relationship.

Cocktail Party

A social gathering where guests enjoy alcoholic beverages and light refreshments, typically standing and mingling.