Correct: Credit Sales is a business transactions, Cash Sales is a business transactions, Withdrawing cash from the bank is a business transactions, Paying cash into bank is a business transactions, A Cash sales is made when goods are exchanged for a payment inthe till (in retail) or payment by debit card. A receipt is given to thecustomer., A Credit Sale is when a company gives a requested credit to a customer in exchange of the supply of goods,after references and checks have been done and are satisfactory and the salegoes ahead., Incorrect: An employee paid cash into the bank is a business transactions, A Cash Sales is made is made when goods are exchanged for a promise of payment in thefuture usually in 30 days. An invoice is given to the customer., A purchase invoice is a document that itemises a transaction between a buyer anda seller. , Input tax is the tax charged on the sale of goods and services.             , Output tax is the tax paid on the purchase of goods and services.             ,

Definitions (Choose the right ones) - Book Keeping Transactions - AAT




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