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PURCHASE Book is used to record
- a)All purchase of goods
- b)All credit purchases
- c)All credit purchases of goods
- d)All credit purchases of assets
Correct answer is option 'C'. Can you explain this answer?
Verified Answer
PURCHASE Book is used to recorda)All purchase of goodsb)All credit pur...
A purchase book records only all credit purchases of goods and trade. Cash purchases are recorded via the cash book while the credit purchase of an asset is recorded via a journal entry.
Most Upvoted Answer
PURCHASE Book is used to recorda)All purchase of goodsb)All credit pur...
The rule says every credit purchase of goods is recorded in purchase books bcz when we calculate our creditors amount its useful a lot for us
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PURCHASE Book is used to recorda)All purchase of goodsb)All credit pur...
Because when we record all credit purchase of goods in PURCHASE book we can easily resales the goods to costumers which is not usable in the firm.
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