Question

Sale or return day book is a __________.

• A. Personal A/c
• B. Suspense A/c
• C. Memorandum A/c
• D. Nominal A/c

Answer 1

The correct option is C Memorandum A/c

Following are memorandum books:

(1) Sales or return day book,

(2) Sale or return ledger,

They are not found in regular books and balances in both the accounts are same. They represents the value of goods with customer on sale on return or approval basis.