The most important purpose of a turnaround document is to
A)serve as a source document
B)inform a customer of the outstanding amount payable
C)provide an audit trail for the external auditor
D)inform the bank of electronic funds deposits

Question

Quizplus · Accepted Answer

A turnaround document serves as a source document, which means it is used to capture data from one system or department and then input the information into another system or department. The document "turns around" from being outgoing to incoming, hence the name turnaround document. This makes it an important tool for ensuring accuracy in recording and processing of business transactions. The other options (B, C, and D) are not the primary purposes of a turnaround document.

The Most Important Purpose of a Turnaround Document Is to