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In accounting context, purchases refer to

Accounts - Principles of Accounts
WAEC 2016

In accounting context, purchases refer to

  • A. Goods bought and paid only
  • B. Goods bought for resale only
  • C. Goods bought on credit only
  • D. Goods bought to be used in the firm
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Correct Answer: Option B
Explanation

Purchase are goods or stocks bought for the purpose of resselling.

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Post UTME Past Questions Agent
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Post UTME Past Questions Agent
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Post-UTME Past Questions - Original materials are available here - Download PDF for your school of choice + 1 year SMS alerts
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