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Question
___________ is not a subsidiary book.
___________ is not a subsidiary book.
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Solution
The correct option is C Purchase Account
A journal is sub divided into number the books for some specific transactions to be recorded which are known as subsidiary books.These can be purchase day book, sales day book, purchase returns, sales returns, cash book, etc.While closing the purchase day books, sum of the total of purchase day book is transferred to purchase account. Purchase account is an account and hence, cannot be considered as a subsidiary book.
A journal is sub divided into number the books for some specific transactions to be recorded which are known as subsidiary books.
These can be purchase day book, sales day book, purchase returns, sales returns, cash book, etc.
While closing the purchase day books, sum of the total of purchase day book is transferred to purchase account. Purchase account is an account and hence, cannot be considered as a subsidiary book.Suggest Corrections
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