In support of business transaction, any written evidence is called ___________?
Correct answer: B. Voucher
- A. Discount
- B. Voucher
- C. Allowance
- D. Price
Explanation
A voucher is written documentary evidence supporting a transaction, such as an invoice, receipt, or payment slip. Discounts and allowances reduce amounts but do not themselves serve as the transaction's supporting document.
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About Accounting Principles
Accounting principles explain the rules used to record, classify and report business transactions. Coverage includes the accounting equation, double-entry system, accrual and cash bases, matching and prudence concepts, consistency, going concern, business entity, and the difference between capital and revenue items.
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