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Tamil Nadu Board of Secondary EducationHSC Commerce Class 11

What is meant by purchase returns? - Accountancy

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Question

What is meant by purchase returns?

Short/Brief Note
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Solution

  1. Purchases returns or returns outwards are a normal part of the business.
  2. Goods may be returned to the supplier if they carry defects or if they are not according to the specifications of the buyer.
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Chapter 12: Final Accounts of Sole Proprietors - 1 - Very short answer questions [Page 264]

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Samacheer Kalvi Accountancy [English] Class 11 TN Board
Chapter 12 Final Accounts of Sole Proprietors - 1
Very short answer questions | Q II 4. | Page 264
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