Which of the following is a characteristic of a sales receipt?

A sales receipt is a document that confirms a transaction has occurred and captures the details of the sale at the time of payment. This characteristic is crucial because it indicates that the customer has completed the purchase, often providing proof of payment for both the buyer and the seller.

Sales receipts are typically issued for cash or credit card transactions where payment is made immediately, distinguishing them from invoices, which are used for credit sales that allow customers to pay at a later date. The sales receipt thus serves as a vital record that signifies the end of a sales transaction and supports the immediate exchange of goods or services for payment.

Other options provided offer incorrect or misleading descriptions. For instance, credit transaction documentation would usually involve an invoice rather than a sales receipt, and online payments are just one method of transaction that can utilize sales receipts rather than a limiting factor. Additionally, invoices are not a prerequisite for a sales receipt, further emphasizing the unique function of this document in capturing live transaction details.