What are the transactions involved in selling goods for cash?

Selling of goods

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Selling of goods on credit

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Both A & B

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None of these

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Solution

The correct option is A
Selling of goods

The transactions involved in selling goods for cash are consumption of stock and selling of goods.

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Similar questions

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Mention the subsidiary books in which the following transactions are recorded with reason thereof.

(i) Purchase of furniture on credit for use in a shop.

(ii) Sale of goods on credit.

(iii) Goods returned by debtors

(iv) Purchase of stock on credit.

(v) Providing for interest on capital to a proprietor.

(vi) Goods returned to creditors.

(vii) Sale of goods for cash.

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