CA Foundation Exam > CA Foundation Questions > Debit note issued are used to prepare _______...
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Debit note issued are used to prepare _______
- a)Sales Return Book
- b)Purchase Return Book
- c)Journal Proper
- d)Purchase Book
Correct answer is option 'B'. Can you explain this answer?
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Verified Answer
Debit note issued are used to prepare _______a)Sales Return Bookb)Purc...
Purchases returns book is a book in which the goods returned to suppliers are recorded. It is also called returns outward book or purchases returns day book. Goods may be returned because they are of the wrong kind or not up to sample or because they are damaged etc.
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Most Upvoted Answer
Debit note issued are used to prepare _______a)Sales Return Bookb)Purc...
Debit notes are issued by the purchaser to the supplier when there is a discrepancy in the goods received or the price charged. These are used to prepare the Purchase Return Book.
Explanation:
Debit notes are used in accounting to record a reduction in the amount payable to a supplier. These are issued by the purchaser to the supplier to rectify errors or discrepancies in the goods received or the price charged. Debit notes are also used when goods are returned to the supplier due to defects or other reasons.
The Purchase Return Book is a subsidiary book that records all the goods returned to the supplier. It contains the details of the supplier, the date of return, the invoice number, the quantity, and the value of the goods returned. The Purchase Return Book is used to maintain an accurate record of all the goods returned to the supplier and to calculate the amount payable to the supplier.
In conclusion, debit notes issued are used to prepare the Purchase Return Book as it helps in maintaining an accurate record of all the goods returned to the supplier.
Explanation:
Debit notes are used in accounting to record a reduction in the amount payable to a supplier. These are issued by the purchaser to the supplier to rectify errors or discrepancies in the goods received or the price charged. Debit notes are also used when goods are returned to the supplier due to defects or other reasons.
The Purchase Return Book is a subsidiary book that records all the goods returned to the supplier. It contains the details of the supplier, the date of return, the invoice number, the quantity, and the value of the goods returned. The Purchase Return Book is used to maintain an accurate record of all the goods returned to the supplier and to calculate the amount payable to the supplier.
In conclusion, debit notes issued are used to prepare the Purchase Return Book as it helps in maintaining an accurate record of all the goods returned to the supplier.
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Debit note issued are used to prepare _______a)Sales Return Bookb)Purc...
Purchase return book is a book where transactions are recorded for what we have returned to our suppliers,, debit note is issued to suppliers to inform them that ur account has been debited with an amount for what we've returned to u,,, so that amount equal to goods returned deducted from there account
Hence Option (B) is the correct answer
For video on Introduction to Subsidiary Books click on the link given below:
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Debit note issued are used to prepare _______a)Sales Return Bookb)Purchase Return Bookc)Journal Properd)Purchase BookCorrect answer is option 'B'. Can you explain this answer?
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