Source documents
A)Are a source of accounting information.
B)Do not provide objective evidence about transactions.
C)Can only be in electronic form.
D)Are acceptable as a substitute for financial statements.
E)Are only used for audit purposes.

Question

Quizplus · Accepted Answer

Source documents are physical or electronic records that provide objective evidence of business transactions. They are a critical source of accounting information and are used to support the preparation of financial statements. Source documents can include invoices, receipts, bank statements, and purchase orders, among others. They are not a substitute for financial statements but are used to create them.

Source Documents