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When a large number of articles are sent frequently on a sale or return basis, it is necessary to maintain
- a)Sale journal
- b)Goods returned journal
- c)Sale or return journal
- d)None of the above.
Correct answer is option 'C'. Can you explain this answer?
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When a large number of articles are sent frequently on a sale or retur...
Explanation:
When a large number of articles are sent frequently on a sale or return basis, it is necessary to maintain a specific journal to track these transactions. The correct answer is option C: Sale or return journal.
Here is a detailed explanation of each option:
1. Sale journal:
- A sale journal is used to record all sales transactions where the ownership of the goods is transferred immediately.
- It is not suitable for recording sales made on a sale or return basis, as the ownership is not immediately transferred.
2. Goods returned journal:
- A goods returned journal is used to record the return of goods by customers.
- While it is relevant to track returns in a sale or return scenario, it does not cover the complete transaction process.
3. Sale or return journal:
- A sale or return journal is specifically designed to record sales made on a sale or return basis.
- It tracks both the sales and the potential returns if the customer decides to return the goods.
- This journal helps in monitoring the inventory and determining the financial impact of sales or returns.
4. None of the above:
- This option is incorrect as there is a specific journal required for tracking sale or return transactions.
In summary, when a large number of articles are sent frequently on a sale or return basis, it is necessary to maintain a sale or return journal to accurately record and track these transactions.
When a large number of articles are sent frequently on a sale or return basis, it is necessary to maintain a specific journal to track these transactions. The correct answer is option C: Sale or return journal.
Here is a detailed explanation of each option:
1. Sale journal:
- A sale journal is used to record all sales transactions where the ownership of the goods is transferred immediately.
- It is not suitable for recording sales made on a sale or return basis, as the ownership is not immediately transferred.
2. Goods returned journal:
- A goods returned journal is used to record the return of goods by customers.
- While it is relevant to track returns in a sale or return scenario, it does not cover the complete transaction process.
3. Sale or return journal:
- A sale or return journal is specifically designed to record sales made on a sale or return basis.
- It tracks both the sales and the potential returns if the customer decides to return the goods.
- This journal helps in monitoring the inventory and determining the financial impact of sales or returns.
4. None of the above:
- This option is incorrect as there is a specific journal required for tracking sale or return transactions.
In summary, when a large number of articles are sent frequently on a sale or return basis, it is necessary to maintain a sale or return journal to accurately record and track these transactions.
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When a large number of articles are sent frequently on a sale or return basis, it is necessary to maintaina)Sale journalb)Goods returned journalc)Sale or return journald)None of the above.Correct answer is option 'C'. Can you explain this answer?
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