Documents That Are Sent to Customers or Suppliers and Then

question 32

Multiple Choice

Documents that are sent to customers or suppliers and then sent back to the company in the course of a business transaction are known as

• A) turnaround documents.
• B) source documents.
• C) source data automation.
• D) transaction documents.

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Definitions:

Accounts Payable

The amount a company owes to suppliers for items or services purchased on credit.

Liabilities

Obligations in terms of finances that an organization must fulfill to external parties, involving the exchange of economic advantages like funds, goods, or assistance over time.

Accounts Receivable

Money owed to a company by its customers for goods or services provided on credit.

Capital

Represents the amount of funds provided by owners or investors to support business operations.