Documents that are sent to customers or suppliers and then sent back to the company in the course of a business transaction are known as
A)turnaround documents.
B)source documents.
C)input documents.
D)transaction documents.

Question

Quizplus · Accepted Answer

Turnaround documents are documents that are sent to customers or suppliers and then returned to the company to complete a transaction. Examples include invoices, purchase orders, and shipping documents. They are called "turnaround" documents because they are created by one party, sent to another, then returned to the original party to complete a transaction. Option B) Source documents are the original documents that provide information for accounting records, while option C) Input documents are any documents that are entered into a system or process for further use, and option D) Transaction documents are any documents that record a business transaction. However, turnaround documents specifically refer to documents that are sent and returned during a transaction.

Documents That Are Sent to Customers or Suppliers and Then