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What document is provided to a customer as proof of payment received?Group of answer choicesReceiptInvoiceStatement of AccountQuotation

Question

What document is provided to a customer as proof of payment received?Group of answer choicesReceiptInvoiceStatement of AccountQuotation

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Solution

Sure, let's analyze each option step by step to determine the correct answer:

  1. Receipt:

    • A receipt is a document provided to a customer as proof that payment has been received. It typically includes details such as the date of the transaction, the amount paid, and a description of the goods or services purchased.
  2. Invoice:

    • An invoice is a document issued by a seller to a buyer indicating the products, quantities, and agreed prices for products or services the seller has provided. It is a request for payment, not proof of payment.
  3. Statement of Account:

    • A statement of account is a summary of all transactions between a buyer and a seller over a specific period. It includes invoices, payments received, and any outstanding balances. It is not specifically proof of a single payment received.
  4. Quotation:

    • A quotation is a document that provides a potential buyer with a detailed offer for goods or services at a specified price. It is not related to payment received.

Based on the analysis, the correct answer is:

Receipt

A receipt is the document provided to a customer as proof of payment received.

This problem has been solved

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