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IGCSE Accounting: Business Documents Quiz

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IGCSE Accounting: Business Documents Quiz

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Hard: key business documents practice

Created by

Geetha Surana
Geetha Surana
India

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IGCSE Accounting: Business Documents Quiz
 

IGCSE Accounting: Business Documents QuizOnline version

Hard: key business documents practice

by Geetha Surana
1

What is the main purpose of an invoice in business documents?

2

Which document initiates a purchase by a buyer?

3

Which document records a reduction in amount owed due to a return or error?

4

What does a cash book primarily record?

5

Which document records goods or services purchased on credit from a supplier?

6

Which document lists goods or services supplied to a customer and amount due?

7

What is the function of a debit note?

8

Which financial statement summarizes revenue and expenses over a period?

9

Why is a petty cash book used?

10

What document typically accompanies a payment to a supplier and notes which invoices are paid?

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An invoice asks the customer to pay the amount due for goods/services delivered.

A purchase order authorizes a buying transaction before goods/services are supplied.

A credit note reduces the amount the buyer owes or records a refund.

The cash book tracks all cash inflows and outflows of the business.

A purchase invoice is issued by the supplier detailing amount due.

A sales invoice is issued to request payment from the customer.

A debit note communicates adjustments favoring the buyer or correcting overcharges.

The income statement shows profitability over a time period.

Petty cash records small expenditures to maintain controls.

Remittance advice explains what invoices the payment covers.

 
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