Goods sold on credit will be entered in the
A) Sales account
B) Sales book
C) Customers account
D) Creditors account
Correct Answer:
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Q30: Credit note is sent by
A)Seller
B)Customer
C)Buyer
D)Borrower
Q31: Total sales book indicates
A)Total credit sales
B)Total cash
Q32: Total sales made during a year is
Q33: Sales return account is a _ account
A)Personal
B)Nominal
C)Real
D)Current
Q34: Debit note is prepared in connection with
A)Sales
Q36: Cash purchase of fixed asset is entered
Q37: Normally value of closing stock _ in
Q38: Cost of goods sold plus selling expenses
Q39: Trading account is a _ account
A)Personal
B)Real
C)Nominal
D)Expenses
Q40: 1/6 profit on sales means _ on
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