Source Documents Generally Help to Improve Accuracy in Transaction Processing

question 80

Multiple Choice

Source documents generally help to improve accuracy in transaction processing because

• A)they specify which information to collect due to their structure.
• B)standard information is preprinted on the document.
• C)they provide directions and steps for completing the form.
• D)All of the above are correct.

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Definitions:

Bona Fide Purchaser

A person who purchases property in good faith without notice of any prior claims, liens, or encumbrances.

Buyer in the Ordinary Course of Business

A purchaser who buys goods in good faith, without notice that the sale violates the rights of another party, in the usual and regular course of the seller’s business.

Bailee

An individual or entity that has been given temporary custody but not ownership of someone else's property.

Risk of Loss

The responsibility for accidental damage to goods or property, often discussed in the context of selling or shipping goods.