Which of the following is a purchase return?
A) A company agrees to keep damaged inventory and receives a refund from the supplier.
B) A customer agrees to keep damaged inventory and receives a partial refund of the selling price.
C) A company returns inventory to the supplier and receives a refund of the purchase price.
D) A customer returns inventory to a company and receives a refund of the purchase price.

Question

Quizplus · Accepted Answer

A purchase return occurs when a company returns goods to the supplier and receives a refund of the purchase price, which is described in option C.

Which of the Following Is a Purchase Return