All of the following statements regarding a sales invoice are true except:
A)A sales invoice is a type of source document.
B)A sales invoice is used by sellers to record the sale and for control.
C)A sales invoice is used by buyers to record purchases and monitor purchasing activity.
D)A sales invoice gives rise to an entry in the accounting process.
E)A sales invoice does not provide objective evidence about a transaction.

Question

Quizplus · Accepted Answer

All of the statements regarding a sales invoice are true except that it does not provide objective evidence about a transaction. In fact, a sales invoice is a source document that serves as objective evidence of a sale, and gives rise to an entry in the accounting process. It is used by sellers to record the sale and for control, as well as by buyers to record purchases and monitor purchasing activity.

All of the Following Statements Regarding a Sales Invoice Are