40075432
Description
Flashcards by Thivyatharani Thayaratnam, updated 7 days ago
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Created by Thivyatharani Thayaratnam
7 days ago
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| Question | Answer |
| What are trade documents ? | Trade documents are documents involved during trading between business and consumer. |
| What is the order of documents involved in trade ? | Enquiry ---> Quotation ---> Order Form ---> Advice/Delivery Note ---> Goods received note ---> Credit note/Debit note/Statement of account ---> Payment ---> Receipt |
| What is an enquiry ? | A letter sent to a supplier regarding what the supplier has to offer. |
| What is a quotation ? | A response to a letter of enquiry from a supplier quoting the price and the other details of the goods the supplier is able to offer. |
| What is an order ? | A document requesting specific goods to be delivered. |
| What is an advice note ? | A document from a supplier saying when goods will be delivered. |
| What is a delivery note ? | A document that describes the goods that have been delivered by the supplier. (used to check that the goods delivered as the same as those listed on the delivery note) |
| What is a goods received note ? | A copy of the delivery note signed by the customer to confirm that the correct goods have been delivered. |
| What is an invoice ? | A business document that contain details, such as the amount owed, about the exchange of goods between the buyer and the seller. |
| What is a debit note ? | A document used to inform the customer that they have been undercharged. |
| What is a credit note ? | A document used to inform the customer that they have been overcharged. |
| What is a statement of account ? | A document sent to the customer to show a summary of recent transactions and the outstanding amount. |
| What is auditing ? | Checking if transactions are accurate. |
| What is a receipt ? | Issued by businesses when payment has been received from a customer. |
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