Which is the source documents

Assignment Help Accounting Basics

Reference no: EM132696838

Problem 1: Source documents

1) do not provide objective evidence about transaction

2) are a source of accounting information.

3) can only be in electronic form

4) are only used for audit purposes

5) are acceptable as a substitute for financial statements

Problem 2: A business

1) is one or more individuals selling products or services for profit

2) can only have one legal form of organization

3) can have adequate financial records without a formal accounting system

4) has to issue shares before it opens

5) is one or more individuals selling products or services for profit and has to issue shares before it open

Reference no: EM132696838

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