Commerce Exam > Commerce Questions > In Purchase book goods purchased on ............
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In Purchase book goods purchased on .........are recorded.
- a)Cash Only
- b)Credit Only
- c)Both
- d)None of these
Correct answer is option 'B'. Can you explain this answer?
Verified Answer
In Purchase book goods purchased on .........are recorded.a)Cash Onlyb...
Purchase book records credit purchases of goods only. Whenever goods are purchased, Purchases account is debited. In all cases of purchases, goods come into the business (as per the rule i.e. "Debit what comes in"), so purchases account has to be debited. The document on the basis of which purchase book is prepared is known as "Credit memo".
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In Purchase book goods purchased on .........are recorded.a)Cash Onlyb...
Only credit purchases are recorded in the purchases book, cash purchases are recorded in the cash book
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In Purchase book goods purchased on .........are recorded.a)Cash Onlyb...
Cash transactions are recorder in the Cash book. Don't get confuse between purchase account and Purchase book both are different. Purchase book only records credit purchase transactions.
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In Purchase book goods purchased on .........are recorded.a)Cash Onlyb)Credit Onlyc)Bothd)None of theseCorrect answer is option 'B'. Can you explain this answer? for Commerce 2025 is part of Commerce preparation. The Question and answers have been prepared according to the Commerce exam syllabus. Information about In Purchase book goods purchased on .........are recorded.a)Cash Onlyb)Credit Onlyc)Bothd)None of theseCorrect answer is option 'B'. Can you explain this answer? covers all topics & solutions for Commerce 2025 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for In Purchase book goods purchased on .........are recorded.a)Cash Onlyb)Credit Onlyc)Bothd)None of theseCorrect answer is option 'B'. Can you explain this answer?.
In Purchase book goods purchased on .........are recorded.a)Cash Onlyb)Credit Onlyc)Bothd)None of theseCorrect answer is option 'B'. Can you explain this answer? for Commerce 2025 is part of Commerce preparation. The Question and answers have been prepared according to the Commerce exam syllabus. Information about In Purchase book goods purchased on .........are recorded.a)Cash Onlyb)Credit Onlyc)Bothd)None of theseCorrect answer is option 'B'. Can you explain this answer? covers all topics & solutions for Commerce 2025 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for In Purchase book goods purchased on .........are recorded.a)Cash Onlyb)Credit Onlyc)Bothd)None of theseCorrect answer is option 'B'. Can you explain this answer?.
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