CA Foundation Exam > CA Foundation Questions > Sale or return day book is a :a)Primary Bookb...
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Sale or return day book is a :
- a)Primary Book
- b)Principal Book
- c)Memorandum Book
- d)None of these
Correct answer is option 'C'. Can you explain this answer?
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Sale or return day book is a :a)Primary Bookb)Principal Bookc)Memorand...
Sale or return day book is a:
The correct answer is C: Memorandum Book.
Explanation:
- Sale or return day book is a type of bookkeeping record that is used to track the sales and returns of goods that are sold on a sale or return basis.
- It is also known as a memorandum book because it serves as a memorandum or reminder of the transactions that have taken place.
- The purpose of the sale or return day book is to keep a record of the goods that have been sold or returned, along with the relevant details such as the date of the transaction, the customer's name, the quantity of goods sold or returned, and the amount of money involved.
- The information recorded in the sale or return day book is later used to update the accounts and financial statements of the business.
- The sale or return day book is considered a subsidiary book, which means it is a secondary record that supports the main books of accounts.
- Other examples of subsidiary books include cash book, purchase book, and sales book.
In summary, the sale or return day book is a memorandum book that is used to record the sales and returns of goods on a sale or return basis.
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The correct answer is C: Memorandum Book.
Explanation:
- Sale or return day book is a type of bookkeeping record that is used to track the sales and returns of goods that are sold on a sale or return basis.
- It is also known as a memorandum book because it serves as a memorandum or reminder of the transactions that have taken place.
- The purpose of the sale or return day book is to keep a record of the goods that have been sold or returned, along with the relevant details such as the date of the transaction, the customer's name, the quantity of goods sold or returned, and the amount of money involved.
- The information recorded in the sale or return day book is later used to update the accounts and financial statements of the business.
- The sale or return day book is considered a subsidiary book, which means it is a secondary record that supports the main books of accounts.
- Other examples of subsidiary books include cash book, purchase book, and sales book.
In summary, the sale or return day book is a memorandum book that is used to record the sales and returns of goods on a sale or return basis.
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Sale or return day book is a :a)Primary Bookb)Principal Bookc)Memorandum Bookd)None of theseCorrect answer is option 'C'. Can you explain this answer?
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Sale or return day book is a :a)Primary Bookb)Principal Bookc)Memorandum Bookd)None of theseCorrect answer is option 'C'. Can you explain this answer? for CA Foundation 2024 is part of CA Foundation preparation. The Question and answers have been prepared according to the CA Foundation exam syllabus. Information about Sale or return day book is a :a)Primary Bookb)Principal Bookc)Memorandum Bookd)None of theseCorrect answer is option 'C'. Can you explain this answer? covers all topics & solutions for CA Foundation 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Sale or return day book is a :a)Primary Bookb)Principal Bookc)Memorandum Bookd)None of theseCorrect answer is option 'C'. Can you explain this answer?.
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