In an accounting information system, source documents are the documents which:
A)are audited and presented to the Securities Exchange Commission.
B)detail the strategic planning of the business.
C)have complete information about the financial statements.
D)provide the evidence for accounting transactions.

Question

Quizplus · Accepted Answer

Source documents provide the evidence for accounting transactions, such as receipts, invoices, and purchase orders. They are used to record and track financial transactions in an accounting system. Source documents do not necessarily contain complete information about the financial statements and are not audited or presented to the Securities Exchange Commission. They also do not typically detail the strategic planning of the business.

In an Accounting Information System, Source Documents Are the Documents