Question

Debit and credit note provide an advantage of not editing and changing the original documents. To correct the effect given in original document debit and credit notes are issued accordingly separately.

• A. True
• B. False

Answer 1

The correct option is A True

True. Debit and credit notes are issued to correct the issues of short debit or short credit given earlier. They give an advantage of not editing the books of original entry and still altering the accounts by either debiting or crediting the accounts so needed respectively.