A Business's Source Documents

question 195

Multiple Choice

A business's source documents:

• A)include the ledger.
• B)Provide objective evidence that a transaction has taken place.
• C)must be in electronic form.
• D)are prepared internally to ensure accuracy.
• E)include the chart of accounts.

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Definitions:

Disability Insurance

A type of insurance that provides financial support to a person who is unable to work because of a disability.

Unemployment Insurance

A government-provided benefit offering temporary financial assistance to unemployed workers who meet certain eligibility requirements.

Mutual Fund

An investment vehicle that pools money from many investors to purchase a diversified portfolio of stocks, bonds, or other securities.

Brokers

Individuals or firms that act as intermediaries between buyers and sellers in financial transactions, earning a commission for their services.