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Recap of Accounting Process

The documents...

Question

The documents on the basis of which transactions are recorded in the account books are known as ____________.

A

Source documents

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B

Ledger accounts

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C

Legal documents

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D

Subsidiary books

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Solution

The correct option is C Source documents
All business transactions are evidenced by an appropriate document such as invoice, memo, bill, receipt, cheque etc. Such document which provides complete information of the financial transactions to be recorded are known as source documents.

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