In recording business transactions, evidence that an accounting transaction has taken place is obtained from
A) business documents.
B) the taxing authority.
C) the public relations department.
D) the IASB.

Question

Quizplus · Accepted Answer

Business documents, such as invoices, receipts, and bank statements, provide tangible evidence that an accounting transaction has occurred. The taxing authority, public relations department, and IASB do not typically provide evidence of transactions.

In Recording Business Transactions, Evidence That an Accounting Transaction Has