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WAEC Financial Accounting 2021 Question 1

Question 1

Source Documents

The original record containing the details of a transaction which serves as a basis for posting is

  1. A.general ledger.
  2. B.source document.
  3. C.subsidiary book.
  4. D.trial balance.
Show the answer and explanation

Answer: B (source document.)

Explanation

A source document (invoice, receipt, voucher) is the original evidence of a transaction from which entries are made.