__________ is a statement issued by buyer to seller giving full details of goods returned.

Debit note

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Credit note

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Cash memo

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Credit memo

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Solution

The correct option is A Debit note
A debit note is a note which is issued when goods purchased are returned by the purchaser to the vendor or in other words when goods are returned by the buyer to the seller. A debit note signifies that the liability of the buyer has been reduced for payment or expense. Whereas a credit note is a note which is issued by the vendor or seller to the purchaser in respect of return of goods.

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Similar questions

Q. A __________ issued by buyer to seller giving full details of goods returned.

Q. Which among the following situation will best explain about issuing debit note to a customer:
A) When the amount payable by buyer to seller increases.
B) Return of goods due to bad quality.
C) When the amount payable by buyer to seller decreases.
D) Goods delivered has charged an extra price.

Q. When goods are returned by buyer to seller, supplier sends a credit note.

When a buyer returns goods to the seller, he sends a _______ as intimation to the seller of the amount and quantity being returned and requesting the return of money. Whereas when a Seller receives goods (returned) from the buyer, he prepares and sends a _______ as intimation to the buyer showing that the money for the related goods is being returned in the form of a credit note.

Q. _______ is a document giving full details of goods being sold and may treated as document showing title by the buyer.

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