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WAEC Financial Accounting 2014 Question 1

Question 1

Source Documents

The source document used to make entries in the purchases day book is

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

Answer: C (invoice.)

Explanation

Credit purchases are entered in the purchases day book from the invoices received from suppliers.