State whether the following statement is True or False.
In trial balance purchases returns are recorded on Debit side.

True

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False

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Solution

The correct option is B False
Purchase is an expense so, purchase return is opposite of purchase therefore, it should be recorded on credit side of the trial balance.

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State whether the following statement is True or False.In trial balance purchases returns are recorded on Debit side.

The correct option is B FalsePurchase is an expense so, purchase return is opposite of purchase therefore, it should be recorded on credit side of the trial balance.

State whether the following statement is True or False.
In trial balance purchases returns are recorded on Debit side.

The correct option is B False
Purchase is an expense so, purchase return is opposite of purchase therefore, it should be recorded on credit side of the trial balance.