Which of the following should not be called ‘Sales’?

Goods sold for cash

No worries! We‘ve got your back. Try BYJU‘S free classes today!

Sale of item previously included in purchases

No worries! We‘ve got your back. Try BYJU‘S free classes today!

Office fixtures sold

Right on! Give the BNAT exam to get a 100% scholarship for BYJUS courses

Credit sales

No worries! We‘ve got your back. Try BYJU‘S free classes today!

Open in App

Solution

The correct option is C
Office fixtures sold

Office fixtures sold are not sales.

Suggest Corrections

Similar questions

Q. Which of the following should be entered in the Journal?
(i) Payment for purchases
(ii) Fixtures bought on credit
(iii) Credit sale of goods
(iv) Sale of surplus machinery.

Q. From the following information, calculate value of Opening Inventory:

Closing Inventory	=	₹ 68,000
Total Sales	=	₹ 4,80,000 (including Cash Sales ₹ 1,20,000)
Total Purchases	=	₹ 3,60,000 (including Credit Purchases ₹ 2,39,200)

Goods are sold at a profit of 25% on cost.

Q. Goods sold on credit are only recorded in the sales book.

From the following balances extracted from the books of M/s Ahuja and Nanda. Calculate the amount of:

(a)	Cost of goods available for sale
(b)	Cost of goods sold during the year
(c)	Gross Profit

	Rs
Opening stock	25,000
Credit purchases	7,50,000
Cash purchases	3,00,000
Credit sales	12,00,000
Cash sales	4,00,000
Wages	1,00,000
Salaries	1,40,000
Closing stock	30,000
Sales return	50,000
Purchases return	10,000

State which fo the following would result in inflow/outflow of Cash or Cash Equivalents:
(i) Purchase of Inventory for cash.
(ii) Purchase of goods on credit.
(iii) Sale of Goods costing Rs. 10,000 for Rs. 12,000 for cash.
(iv) Sale fo Goods on Credit.
(v) Purchase of a fixed asset by issue of shares.

Join BYJU'S Learning Program

Which of the following should not be called ‘Sales’?

The correct option is C Office fixtures sold Office fixtures sold are not sales.

The correct option is C
Office fixtures sold

Office fixtures sold are not sales.