BuyFindarrow_forward

College Accounting, Chapters 1-27

23rd Edition
HEINTZ + 1 other
ISBN: 9781337794756

Solutions

Chapter
Section
BuyFindarrow_forward

College Accounting, Chapters 1-27

23rd Edition
HEINTZ + 1 other
ISBN: 9781337794756
Textbook Problem

Source documents serve as historical evidence of business transactions.

To determine

Identify whether the given statement is true or false.

Answer

True statement

Explanation

Source documents: A document that provides information about the company’s business transaction is known as source documents.

Source documents helps in entering the transactions in the accounting system. Moreover, when someone questions about the accounting records, the source documents can be used as an evidence for the accuracy of the accounting records and can be filed for future reference. Some of the examples of the source document are check stubs, cash register tapes, purchase invoices from the suppliers and sales invoices issued to the customers or clients.

Therefore, from the above explanation, it is determined that the statement Source document serve as historical evidence of business transactions is true.

The Solution to Your Study Problems

Bartleby provides explanations to thousands of textbook problems written by our experts, many with advanced degrees!

Get Started

Additional Business Solutions

Find more solutions based on key concepts

Show solutions add

What is inflation and what causes it?

Essentials of Economics (MindTap Course List)

What does it mean when it is said that the United States is running a trade deficit? What impact will a trade d...

Fundamentals of Financial Management, Concise Edition (with Thomson ONE - Business School Edition, 1 term (6 months) Printed Access Card) (MindTap Course List)

Find all the answers to your study problems with bartleby.
Textbook solutions plus Q&A. Get As ASAP arrow_forward