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WAEC Financial Accounting 1992 Question 1

Question 1

Source Documents

Which of the following will a supplier send to a customer whose invoice was undercast?

  1. A.Invoice
  2. B.Debit Note
  3. C.Credit Note
  4. D.Cheque
  5. E.Payment Voucher.
Show the answer and explanation

Answer: B (Debit Note)

Explanation

An undercast invoice charged too little, so the supplier sends a debit note to charge the extra.