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  • Question
  • What is the meaning of invoice?


  • Correct Answer
  • An invoice or bill is a commercial document issued by a seller to the buyer, indicating the products, quantities, and agreed prices for products or services the seller has provided the buyer An invoice indicates the buyer must pay the seller, according to the payment terms In the rental industry, an invoice must include a specific reference to the duration of the time being billed, so rather than quantity, price and discount the invoicing amount is based on quantity, price, discount and duration Generally speaking each line of a rental invoice will refer to the actual hours, days, weeks, months etc being billed From the point of view of a seller, an invoice is a sales invoice From the point of view of a buyer, an invoice is a purchase invoice The document indicates the buyer and seller, but the term invoice indicates money is owed or owing In English, the context of the term invoice is usually used to clarify its meaning, such as "We sent them an invoice" (they owe us money) or "We received an invoice from them" (we owe them money) 


  • Accounting and Finance problems


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    • 1. what is the job description of a payroll officer?
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    • 2. Foreign Exchange Rates refer to the
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    • 3. Financial statements are prepared from which trial balance?

    • Options
    • A. Unadjusted trial balance
    • B. Adjusted trial balance
    • C. Post- closing trial balance
    • D. None of the above
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    • 4. Interest is usually associated with

    • Options
    • A. doubtful accounts
    • B. bad debts
    • C. accounts receivable
    • D. notes receivable
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    • 5. Tally package is developed by

    • Options
    • A. Tally Solutions
    • B. Coral Softwares
    • C. Vedika Softwares
    • D. Peutronics
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    • 6. What is meant by liabilities ?
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    • 7. How does the payment mechanism work?
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    • 8. What do you understand by Intercompany Settlement?
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    • 9. What is 3 Way Matching?
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    • 10. what is the difference between the terms 'credit' and 'debit' from the customer point of view?
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