Receipt is issued for ______.

Cash sales

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Goods received

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Cash received

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Cash paid

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Solution

The correct option is B Cash received
Every business transaction is evidenced by an appropriate document which is known as source document. It forms basis for recording of the transactions in the books of accounts. These source documents include vouchers, cash memo, invoice, sales bill, cheques, receipts, salary slip etc. Of these, receipts are used for cash transactions to record the cash receipts and cash payments in books.

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Similar questions

Q. Select the most appropriate alternative.

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(b) Goods received
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