Purchase Book
Options
A
B
C
D
For any discrepancies in this question, email contact@cadada.in
Accounting ProcessQuestion 4996 of 84
All Questions Correct Answer
✅ Option — Correct Option
All Options:
- A
- B
- C
- D
Detailed Solution & Explanation
Purchase Book:
♦ All credit purchases of goods are recorded in Purchase Book.
♦ Cash purchases are entered in the Cash Book and not in the Purchases Day Book.
♦ Credit purchases of things other than the goods dealt in by the firm are not entered in the
Purchases Day Book; they are journalised.
♦ It is a subsidiary book/ subsidiary journal & posting is made from it to the purchases account
and accounts of the suppliers.
Posting:
♦ The total of purchase register is debited to purchase A/ c periodically say monthly &
♦ Individual amounts are credited to respective parties (suppliers) A/ c.
More Questions from Accounting Process
Accounting Standards can override the statute. [June 2024, 2 Marks]
What are the advantages of subsidiary books? [July 2021, 5 Marks; June 2024, 5 Marks]; [MTP Jan. 2025]
What are the importance of Journal? [June 2023, 5 Marks]
Double Entry System [Jan. 2025, 5 Marks]
Petty Cash Book [June 2022, 5 Marks]
Imprest System
Ready to Master Accounting Process?
Practice all 84 questions with instant feedback, earn XP, track your streaks, and ace your CA Foundation exam.
Start Practicing — It's Free