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5Points Quiz

Which of the following statements is not true about source document

        A.   Source documents are business documents confirming the occurrence of financial transaction between two or more parties

        B.   Source documents are used for the first entries in the subsidiary books of account

        C.   Source documents are written financial information exchange between two or more parties as a result of engaging in business transaction.

        D.   All source documents are legal tender

Answer: D

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The matching concept states that

        A.   The revenue and expenses of an outstanding company be matched with a relative company

        B.   The revenue and expenses for any accounting period should be matched with each other so as to bring them into the accounting period to which relate

        C.   The revenue of a company should be matched with the expenses of a relative company

        D.   None of the above

Answer: B

For More Quiz Questions click here to download Global Quiz on Google PlayStore


For More Quiz Questions click here to download Global Quiz on Google PlayStore


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