Most of the transactions of a merchandising company fall into four groups, including all of the following except:
A)Sales on credit.
B)Cash disbursements.
C)Sales returns and allowances.
D)Cash receipts.
E)Purchases on credit.

Question

Quizplus · Accepted Answer

Sales returns and allowances are not a primary group of transactions but rather adjustments to sales transactions. The main groups are sales on credit, cash disbursements, cash receipts, and purchases on credit.

Most of the Transactions of a Merchandising Company Fall into Four