Business documents

Which business document records purchases, returns and payments made during a trading period?

Feb/March 2020

Rashida sells goods on credit and gives her customers a trade discount. Which statements are correct?

Feb/March 2020

Sami keeps a complete set of accounting records. Why does Sami find it helpful to fill in the cheque counterfoil when he pays a credit supplier with a cheque?

Feb/March 2024

A business offered goods at a list price of $50$ each. The trading terms were as follows: a trade discount for purchases of more than $20$ items: $10\%$; a cash discount if the customer pays within $30$ days: $4\%$. How much was received in full settlement from a customer who bought $25$ items and paid after $35$ days?

Feb/March 2024

Dave sells goods to Peter on credit. On 1 April, Peter owed Dave $\$440$. Over the course of April, Dave handled the following documents: April 7: invoice raised $\$360$ April 12: cheque received (after Peter took off $\$11$ cash discount) $\$429$ April 13: debit note received $\$50$ April 15: credit note issued $\$50$ What closing balance was shown on the statement of account that Dave sent to Peter on 30 April?

Feb/March 2025

Which of the following statements about trade discount are correct? 1. It is entered on the supplier’s account as a debit. 2. It is granted only when the invoice is settled within the time allowed by the supplier. 3. It appears on an invoice as a reduction from the price of the goods. 4. It is intended to encourage buying in large quantities.

Feb/March 2025

Hasina purchases radios from Nazneen at a list price of $10$ each. She bought $12$ radios and received $20\%$ trade discount and $4\%$ cash discount. Two radios were defective and returned to Nazneen. Calculate the total amount shown on the credit note issued by Nazneen?

May/June 2021

Hasina purchases radios from Nazneen at a catalogue price of $10 each. She bought 12 radios and received a 20% trade discount and a 4% cash discount. Two radios were defective and were sent back to Nazneen. What was the total amount shown on the credit note issued by Nazneen?

May/June 2021

Hasina purchases radios from Nazneen at a list price of $10 each. She ordered 12 radios and received a 20% trade discount and a 4% cash discount. Two radios were defective and were sent back to Nazneen. What was the total value of the credit note that Nazneen issued?

May/June 2021

Which items appear on a statement of account?

May/June 2023

Which business documents provide the information used to record entries in the cash book?

May/June 2024

What business documents are used as the sources of information for making entries in the cash book?

May/June 2024

Which document can a business use as evidence that an invoice has been settled?

May/June 2025

Which business document is used to record standing order payments in the cash book?

Oct/Nov 2020

Which business document is used to record standing order payments in the cash book?

Oct/Nov 2020

Amit’s financial year finishes on 31 December. The account below was recorded in his sales ledger. (Dipak account table shown.) What does the entry dated 21 November show?

Oct/Nov 2021

Which document does a trader send to remind a credit customer that payment is due?

Oct/Nov 2021

What is the purpose of a cheque counterfoil?

Oct/Nov 2021

Tumelo supplies goods on credit. The trading conditions are shown below. List price: $200 per unit Credit period: 60 days Trade discount: 15% if 10 units or more are purchased Cash discount: 3% if the debt is paid within one month A credit customer bought 20 units and settled the debt within 15 days. What was the total of the invoice?

Oct/Nov 2021

Leah purchased goods worth $8000 with a 15% trade discount. She later sent back half of the goods because they were faulty. Which document did Leah issue to the supplier for the returned goods?

Oct/Nov 2021

What purpose is a cheque counterfoil used for?

Oct/Nov 2021

Why would a supplier provide trade discount?

Oct/Nov 2021

Amit’s financial year ends on 31 December. The sales ledger for him included the account below. (Dipak account table shown) What is represented by the entry on 21 November?

Oct/Nov 2021

Which document does a trader send out to remind a customer buying on credit that payment is now due?

Oct/Nov 2021

What purpose does a cheque counterfoil serve?

Oct/Nov 2021

Tumelo sells goods on credit, and the terms of trade are shown below. list price: $200 per unit credit period: 60 days trade discount: 15% when 10 units or more are bought cash discount: 3% if the debt is settled within one month A credit customer bought 20 units and cleared the debt after 15 days. What was the total of the invoice?

Oct/Nov 2021

Abdul sells goods to Rekha on credit. Some of the goods were damaged while being transported. Which document should Rekha send to Abdul?

Oct/Nov 2022

What would not be entered in a business’s ledgers?

Oct/Nov 2022

Abdul sells goods to Rekha on credit. A number of the goods were damaged during transport. Which document would Rekha send to Abdul?

Oct/Nov 2022

What information does an invoice not show?

Oct/Nov 2022

Abdul supplies goods to Rekha on credit. A few of the goods were damaged while being transported. Which document would Rekha send to Abdul?

Oct/Nov 2022

Which business documents are used to provide the information needed to complete the sales journal and the sales returns journal?

Oct/Nov 2022

Aiden bought goods from Jai and paid for them by bank transfer after he got a statement of account. Jai claims that he has not received the payment. Which document would enable Aiden to check that he had made the payment?

Oct/Nov 2023

Elaine is setting up a business. She wants to ensure that she does not fail to take advantage of any cash discount available to her. Which action would help her to do this?

Oct/Nov 2023

What document would a supplier send to a credit customer if the credit customer had sent back goods or had been charged too much?

Oct/Nov 2023

Andy purchased from Khalid on a regular basis. The goods had a list price of $1000, and after a 5% discount for prompt payment he later paid $760 as the final amount due. What trade discount was given to Andy?

Oct/Nov 2023

Aiden bought goods from Jai and settled the bill by bank transfer after he got a statement of account. Jai claims that he has not received the money. Which document would help Aiden confirm that he had made the payment?

Oct/Nov 2023

Which business document does a trader use to record the amounts paid into the bank account?

Oct/Nov 2024

Ranjit is a credit customer of Balbir. During April, the following events occurred: Balbir supplied goods to Ranjit on credit. Ranjit informed Balbir that some of the goods had been damaged. Balbir informed Ranjit that the amount owed had been reduced. Which documents were used to record these events?

Oct/Nov 2024

Which business document does a trader use to record sums paid into the bank account?

Oct/Nov 2024

A supplier has been sent a debit note by a customer. What is the supplier's use for this debit note?

Oct/Nov 2025

Sue offers a 2% cash discount to credit customers who pay their account within 28 days. Jane bought goods worth $200 from Sue on 10 September, but she returned them to Sue on 15 September. Which entry did Sue record for the transaction on 15 September?

Oct/Nov 2025

Hasina purchases radios from Nazneen at a catalogue price of $10 per radio. In this month, Hasina ordered 12 radios and received a 20% trade discount together with a 4% cash discount. Two radios were defective and sent back to Nazneen. What was the total amount on the credit note issued by Nazneen?

Oct/Nov 2025