Which of the following would require a cash receipt?
A. Credit memo
B. Purchase order
C. Check
D. Refund
You'd have to have a receipt if you want to get a refund.
Thank you - Scenario: Returning an item to a department store with a receipt and they'll refund you for the products being returned. Right?
Exactly right.
This answer was incorrect - The correct answer is "CHECK"
Maria -- you'd have had a better chance of getting a correct answer if you had listed your School Subject. I agreed with Writeacher -- thinking about personal finances. You didn't indicate this was a business class.
... posts lead to incomplete and inaccurate replies.
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To determine which of the following options would require a cash receipt, let's break down each choice:
A. Credit memo: A credit memo is a document that indicates a credit to a customer's account, either for returned merchandise or for a decrease in the amount owed. It does not involve the transfer of actual cash, so a cash receipt is not required.
B. Purchase order: A purchase order is a document generated by a buyer to authorize a purchase from a supplier. It serves as a request to the supplier and does not involve any exchange of cash. Therefore, a cash receipt is not necessary for a purchase order.
C. Check: A check is a financial instrument that enables the transfer of funds from one bank account to another. When a check is received, it may be deposited into a bank account, but it does not require a cash receipt. The bank statement acts as documentation of the transaction.
D. Refund: A refund is the return of funds previously paid for a product or service. When a refund is given, it typically involves the return of cash to the customer. In this case, a cash receipt is required to document the refunded amount.
Based on the explanations above, the option that would require a cash receipt is option D. Refund.