Sales on credit is recorded in which of the following journal?
A. Purchase journal
B. Sales journal
C. Purchase return journal
D. Sales return journal
Answer: Option B
Solution(By Examveda Team)
The sales journal is used to record all of the company sales on credit. Most often these sales are made up of inventory sales or other merchandise sales.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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