What Describes the Basic Transaction Data Such as Its Date

question 32

Multiple Choice

What describes the basic transaction data such as its date, purpose, and amount and includes cash receipts, canceled checks, invoices, customer refunds, employee time sheet, etc?

• A) Balance sheet
• B) Source document
• C) Transaction
• D) Financial statement

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Definitions:

Business Contract

A legally binding agreement between two or more parties that outlines the terms and conditions of a business transaction.

Overall Set

The total collection or group of items, elements, or properties being considered or discussed.

Organization

can refer to a collective group of people structured and managed to meet a need or pursue collective goals, or the act of organizing.

Expectations

Beliefs or predictions about future events, often influencing behavior and decision-making.