Answer to Question #188609 in Management for Mokgadi Phoshoko

Question

Explain what you understand by the three attributes that records should have. Then
using the examples of the invoice and receipt, identify the elements of these that
represent the three attributes.

Answer 1

The attributes of records are stated as; first, records are evidence of transactions and actions. Second, records should back accountability, which is linked to evidence but allows answerability to be traced. Lastly, records are related to processes, i.e. connected to work processes.

An invoice should have the following; invoice number, invoice date, customer and business contact information, business logo, price, and quantity for products and services rendered e.t.c. All these elements give evidence of transactions and actions. Also, these elements will enhance the accountability of the invoice record.

A receipt should have elements such as; time and date of purchase, number, and price of items purchased. These elements act as evidence of transactions made and are related to the processes of purchasing.