Ram has purchased a furniture for resale as he has a furniture shop. Where the same shall be shown?

Expenses

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Capital

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Liabilities

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Purchases

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Solution

The correct option is D
Purchases

Purchase of Furniture is for resale & hence it shall be classified as a purchase for the business.

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Ram has purchased a furniture for resale as he has a furniture shop. Where the same shall be shown?

The correct option is D Purchases Purchase of Furniture is for resale & hence it shall be classified as a purchase for the business.

The correct option is D
Purchases

Purchase of Furniture is for resale & hence it shall be classified as a purchase for the business.