Maharashtra State BoardHSC Commerce 11th
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State whether the following statement is True or False with reasons: Cash and credit purchases are entered in Purchase Book. - Book Keeping and Accountancy

MCQ
True or False

State whether the following statement is True or False with reasons:

Cash and credit purchases are entered in Purchase Book.

Options

  • True

  • False

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Solution

This statement is False.
Credit purchases of goods are recorded in a purchase book while cash purchases are entered in the cash book and credit purchases of assets are entered in journal proper.
Concept: Purchase Book Or Purchases Day Book
  Is there an error in this question or solution?
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APPEARS IN

Balbharati Book-keeping and Accountancy 11th Standard HSC Maharashtra State Board
Chapter 5 Subsidiary Books
Exercise Q.4 | Q 3 | Page 170
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