Tracing bills of lading to sales invoices provides evidence thatSelect one:a.Invoiced sales were shipped. b.Shipments to customers were recorded as sales.c.Shipments to customers were invoiced.d.Recorded sales were shipped.
Question
Tracing bills of lading to sales invoices provides evidence thatSelect one:a.Invoiced sales were shipped. b.Shipments to customers were recorded as sales.c.Shipments to customers were invoiced.d.Recorded sales were shipped.
Solution
The correct answer is a. Invoiced sales were shipped.
Here's the step-by-step reasoning:
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A bill of lading is a document issued by a carrier (or their agent) to acknowledge receipt of cargo for shipment. In other words, it's a document that confirms that the carrier has received the goods for shipping.
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When you trace a bill of lading to a sales invoice, you're essentially following the trail from the shipment of goods to the billing of those goods.
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If you can successfully trace a bill of lading to a sales invoice, it provides evidence that the goods that were invoiced (i.e., billed to the customer) were indeed shipped.
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Therefore, tracing bills of lading to sales invoices provides evidence that invoiced sales were shipped.
Similar Questions
To obtain the best evidence regarding the completeness of recorded accounts receivable, the auditorsSelect one:a.trace a sample of bills of lading to sales invoicesb.confirm a sample of accounts payablec.review the aging of accounts receivabled.trace a sample of recorded sales to shipping documents
Which department prepares the bill of lading?Select one:a.warehouseb.shippingc.creditd.sales
The billing department is not responsible forSelect one:a.updating the inventory subsidiary recordsb.recording the sale in the sales journalc.notifying accounts receivable of the saled.sending the invoice to the customer
A sales invoice is prepared when goods: Group of answer choices are sold for cash. are faulty and written-down. sold on credit are returned. are sold on credit.
When would you use Create Sales Receipts?Select an answer:when you are creating invoices for customers who pay in cashwhen you are sending a packing list along with a shipment to a customerwhen you are creating invoices for your credit terms customerswhen you make a sale and receive payment at the same time
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