Goods sold on credit are only recorded in the sales book.

True

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False

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Solution

The correct option is A True
Sale book record only credit sale of goods. It does not record cash sales of goods or credit sales of assets. Sale account is always credited for sale, so the sales book always show a credit balance.

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Similar questions

Rectify the following errors:

(a)	Credit Sales to Mohan Rs 7,000 were recorded in purchases book.
(b)	Credit Purchases from Rohan Rs 900 were recorded in sales book.
(c)	Goods returned to Rakesh Rs 4,000 were recorded in the sales return book.
(d)	Goods returned from Mahesh Rs 1,000 were recorded in purchases return book.
(e)	Goods returned from Nahesh Rs 2,000 were recorded in purchases book.

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