What is a written record that indicates money or goods has been received called?

What is a written record that indicates money or goods has been received called?

• A. Invoice
• B. Receipt
• C. Transaction note
• D. Payment confirmation

Answer: (B)

A written record that indicates money or goods has been received is called a receipt. A receipt serves as proof of transaction for both the buyer and the seller. It provides details such as the date of the transaction, amounts paid, descriptions of the goods or services received, and often includes information on the seller and buyer. This is essential for record-keeping and can be used for various purposes, including accounting, tax documentation, and warranty claims. Other options, while related to financial transactions, do not accurately describe a document that specifically confirms receipt of money or goods. An invoice, for instance, is a request for payment and does not confirm receipt but rather indicates what is owed. A transaction note typically refers to internal communications about the transaction rather than serving as a formal acknowledgment of receipt. Payment confirmation generally involves a notification of successful payment processing but is not a detailed acknowledgment of the goods received.

A written record that indicates money or goods has been received is called a receipt. A receipt serves as proof of transaction for both the buyer and the seller. It provides details such as the date of the transaction, amounts paid, descriptions of the goods or services received, and often includes information on the seller and buyer. This is essential for record-keeping and can be used for various purposes, including accounting, tax documentation, and warranty claims.

Other options, while related to financial transactions, do not accurately describe a document that specifically confirms receipt of money or goods. An invoice, for instance, is a request for payment and does not confirm receipt but rather indicates what is owed. A transaction note typically refers to internal communications about the transaction rather than serving as a formal acknowledgment of receipt. Payment confirmation generally involves a notification of successful payment processing but is not a detailed acknowledgment of the goods received.