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WAEC Financial Accounting 2002 Question 4

Question 4

Source Documents

The source document sent by the seller to the buyer when goods are returned is

  1. A.credit note
  2. B.purchase invoice
  3. C.sales invoice
  4. D.debit note.
Show the answer and explanation

Answer: A (credit note)

Explanation

The seller issues a credit note to show the buyer's account has been credited for the returns.