When the goods are returned to a supplier
A. A Debit note is sent to him
B. An Account sale is sent to him
C. A receipt is sent to him
D. Either 'b' or 'c'
Answer: Option A
Solution(By Examveda Team)
When the goods are returned to a supplier a Debit note is sent to him which indicates that his/her account has been debited with the repective amount.This Question Belongs to Commerce >> Accounting
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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
Purchase return, credit note or sales return, debit note