Cash purchases is recorded in which of the following specialized journals?
A. Purchase Journal
B. Sales Journal
C. Purchase return journal
D. Cash payments journal
Answer: Option D
Solution(By Examveda Team)
Cash purchases is recorded in Cash payments journal. Cash payment journal or cash disbursement journal is used to record all cash payments made by the business.This Question Belongs to Commerce >> Accounting
Accounting provides information on
A. Cost and income for managers
B. Company's tax liability for a particular year
C. Financial conditions of an institutions
D. All of the above
The long term assets that have no physical existence but are rights that have value is known as
A. Current assets
B. Fixed assets
C. Intangible assets
D. Investments
The assets that can be converted into cash within a short period (i.e. 1 year or less) are known as
A. Current assets
B. Fixed assets
C. Intangible assets
D. Investments
Patents, Copyrights and Trademarks are
A. Current assets
B. Fixed assets
C. Intangible assets
D. Investments
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