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Subject - Accounting:

Financial Accounting

MCQ - 176-178

Question:

Which of the following document evidences the transaction of purchase of material?

  1. Material requisition
  2. Store requisition
  3. Purchase order
  4. Store requisition

Correct Answer: D

Explanation:

Purchase invoice is the document that evidences the transaction of purchase of material. It is issued by the seller stating quantity, rate, discount, and amount of the purchased material. Settlement terms are also stated at bottom of the invoice. Receiving an invoice means that money is payable to the supplier.

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355 MCQ for effective preparation of the test of Financial Accounting of Accounting section.

Read the MCQ statement: Which of the following document evidences the transaction of purchase of material? , keenly and apply the method you have learn through the video lessons for Financial Accounting to give the answer. Record your answer and check its correct answer and video explanation for MCQ No. 176-178.

How to Answer

Solve the question for MCQ No. and decide which option (A through D/E) is the best choice to answer the MCQ, then click/tap the blue button to view the correct answer and it explanation.

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