Sources Records & Books Of Prime Entry - 50%

Question 1

What are the 5 source documents ?

Answer 1

• sales and purchase orders
• delivery notes
• invoices ( sales & purchase)
• credit notes
  Remittance advise notes

Question 2

Where source documents recorded

Answer 2

In the books of prime entry

Question 3

What are the 6 books of prime entry

Answer 3

• sales day book
• sales returns day book
• Purchase day book
• purchase returns daybook
• cash book
• Petty cash book

Question 4

What are sales day books used for ?

Answer 4

Used to keep a list of all invoices sent out to customers each day

Question 5

What are purchase day books used for

Answer 5

They are used to keep a record of invoices which a business receives

Question 6

What does the sales ad purchase returns say book record ?

Answer 6

This records goods received from customers to suppliers

Question 7

What is the cash book used to record?

Answer 7

The receipts and payments are recorded

Question 8

What is the petty cash book used to record ?

Answer 8

Used to record small payments e.g stamps coffee

Question 9

What is the impress system ?

Answer 9

This is a method used to control petty cash using a voucher system to an agreed preset limit. Expense limits are recorded on vouchers as they occur