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Trade Receivables Turnover Ratio

Source docume...

Question

Source documents on the basis of which Sales Return Book is prepared is known as ____________.

A

Debit note

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B

Credit note

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C

Cash memo

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D

Final memo

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Solution

The correct option is C Credit note
A credit note is a commercial document issued by seller to buyer. When the seller receives goods which are returned from buyer, he prepares and sends a credit note as an intimation to the buyer showing that money for the related goods is being returned in the form of credit note.

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Q. Source document on the basis of which Sales Book is prepared ______________.

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Q. Source document on the basis of which Purchase Book is prepared ____________.

Q. Write the most appropriate word or phrase which can substitute each of the following:
A source document on the basis of which the sales returns book is written.

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