_____ will be credited if goods are given as charity
A. Cash
B. Charity
C. Purchases
D. Sales
Answer: Option C
Solution(By Examveda Team)
Purchases will be credited if goods are given as charity. When accounting for goods given as charity, purchases are reduced with the exact cost of goods contributed. The amount is reduced from purchases in the trading account. It is shown as an expense on the debit side of the income statement.This Question Belongs to Commerce >> Accounting
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Y purchase account credited
How this accounts debit and credited in case goods given in charity.
Y