Which document proves payment has been received by the seller?

Which document proves payment has been received by the seller?

• A. Credit note
• B. Receipt
• C. Invoice
• D. Quotation

Answer: (D)

What this item tests is knowing which document confirms that money has actually changed hands. A receipt is the document the seller provides when payment is received from the buyer; it records the amount paid, the date, and the method of payment, and it serves as proof that the transaction has been completed. An invoice is a request for payment sent before payment is made, a quotation is a price offer, and a credit note adjusts an amount owed or records a return. So the document that proves payment has been received is a receipt.

What this item tests is knowing which document confirms that money has actually changed hands. A receipt is the document the seller provides when payment is received from the buyer; it records the amount paid, the date, and the method of payment, and it serves as proof that the transaction has been completed. An invoice is a request for payment sent before payment is made, a quotation is a price offer, and a credit note adjusts an amount owed or records a return. So the document that proves payment has been received is a receipt.