MyQuestionIcon

1

You visited us 1 times! Enjoying our articles? Unlock Full Access!

AE for Purchase of Goods

Purchase refe...

Question

Purchase refers to the buying of _________. Commerce

A

Stationary for office use

No worries! We‘ve got your back. Try BYJU‘S free classes today!

B

Assets for factory

No worries! We‘ve got your back. Try BYJU‘S free classes today!

C

Goods for resale

Right on! Give the BNAT exam to get a 100% scholarship for BYJUS courses

D

Investment

No worries! We‘ve got your back. Try BYJU‘S free classes today!

Open in App

Solution

The correct option is C
Goods for resale

The term purchases are used for buying of goods for resale or for use in the manufacturing process. The term purchases included both cash and credit purchase of goods. Hence, the correct answer is option (c)

Suggest Corrections

thumbs-up

1

Similar questions

Q. ISCE BOARD- Problem No 32 from ( Memorandum Method ) T. S. GREWAL’S- 12^TH STD COMMERCE --A and B entered into a Joint Venture fo the purchase and sale of material auctioned by the government. A agreed to provide funds for the purchase of materials and B to devote his name. .Prepare Joint venture Account in the Books of A and B separately and Memorandum Joint Venture Account.

Q. Many house builders offer rent-to-buy programs that enable a family with insufficient savings for a conventional down payment to be able to move into new housing and to apply part of the rent to a purchase later.

Q. A person who has a certain amount with him goes to market He can buy 50 oranges or 40 mangoes He retains 10% of the amount for taxi fares and buys 20 mangoes and of the balance he purchased oranges Number of oranges he can purchase is

John purchases 10 pens for Rs 150 and Jenny purchases 7 pens for Rs 84. Who spent less in buying a single pen?

Join BYJU'S Learning Program

similar_icon

Related Videos

lock

Accounting Equation 1

ACCOUNTANCY

Watch in App

explore_more_icon

Explore more

AE for Purchase of Goods

Standard XI Accountancy

Join BYJU'S Learning Program

CrossIcon