week 6 and 7 Flashcards
Refers to activities and events that affect the financial position of an entity
Business Transaction
Managing a business comes with constant and never ending paperwork. Business success starts with clerical and record-keeping work.
Business Documents
A written evidence of sale of service or lease of properties
Official receipt
Acknowledgement that the company received cash or a check in exchange for the service
Cash receipt
A billing statement if the service is on credit
Service invoice
Issued to request payment for the products or service provided
Sales invoice
Issued when a business writes a check to pay its supplier
Check voucher
When a company orders from a vendor or supplier
Purchase Order
The customer acknowledges the product purchased upon delivery
Delivery receipt
