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Why is the evidence provided by source documents important to accounting? - Accountancy

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प्रश्न

Why is the evidence provided by source documents important to accounting?

संक्षेप में उत्तर

उत्तर

The evidence provided by the source document is important in the following manners:

1. It provides evidence that a transaction has actually occurred.

2. It provides important and relevant information about date, amount, parties involved and other details of a particular transaction.

3. It acts as a proof in the court of law.

4. It helps in verifying transactions during the auditing process.

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Recording of Transactions 1
  क्या इस प्रश्न या उत्तर में कोई त्रुटि है?
अध्याय 3: Recording of Transactions - I - Questions for practice [पृष्ठ ८७]

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एनसीईआरटी Accountancy - Financial Accounting 1 [English] Class 11
अध्याय 3 Recording of Transactions - I
Questions for practice | Q 2 | पृष्ठ ८७
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