What report is prepared to substantiate cash receipts from sales?

What report is prepared to substantiate cash receipts from sales?

• A. Sales Receipt Record
• B. Merchant Sales Report
• C. DD 1149
• D. C03 Cash Report

Answer: (C)

The DD 1149, also known as the Requisition and Invoice/Shipping Document, is utilized for various financial transactions within the Navy, including substantiating cash receipts from sales. This form serves as a documented record that provides the necessary details of the transaction, allowing for proper accountability and tracking of cash generated from sales. When cash is received from sales, it is crucial to maintain accurate and verifiable documents to support those transactions, and the DD 1149 plays a significant role in validating that money has actually been received in exchange for goods or services provided. It delineates the specifics of the sale, including itemizations and pricing, which can then be cross-referenced against financial records for factual checks and audits, ensuring transparency and compliance with Navy financial policies. In contrast, other options like the Sales Receipt Record and Merchant Sales Report are more focused on internal documentation processes, while the C03 Cash Report captures broader cash flow information rather than specific sales substantiation. Thus, the DD 1149 is the appropriate choice for accurately substantiating cash receipts resulting from sales transactions.

The DD 1149, also known as the Requisition and Invoice/Shipping Document, is utilized for various financial transactions within the Navy, including substantiating cash receipts from sales. This form serves as a documented record that provides the necessary details of the transaction, allowing for proper accountability and tracking of cash generated from sales.

When cash is received from sales, it is crucial to maintain accurate and verifiable documents to support those transactions, and the DD 1149 plays a significant role in validating that money has actually been received in exchange for goods or services provided. It delineates the specifics of the sale, including itemizations and pricing, which can then be cross-referenced against financial records for factual checks and audits, ensuring transparency and compliance with Navy financial policies.

In contrast, other options like the Sales Receipt Record and Merchant Sales Report are more focused on internal documentation processes, while the C03 Cash Report captures broader cash flow information rather than specific sales substantiation. Thus, the DD 1149 is the appropriate choice for accurately substantiating cash receipts resulting from sales transactions.