AE for Purchase of Goods

Q.

Purchase refers to the buying of _________. Commerce

1. Stationary for office use

2. Assets for factory

3. Goods for resale

4. Investment

Q. Which of the following best describes the meaning of ‘Purchases’?

1. Goods bought on credit
2. Goods bought for resale
3. Goods paid for
4. Items bought

Q.

What is goodwill in easy language?

Q. Answer in one sentence.

Explain the term net purchases.