Majority of commercial transactions are termed credit tra...
Majority of commercial transactions are termed credit transactions, which means
The buyers pay immediately for goods bought
Settlement is deferred to a future date
No account will be opened
Item of expenditure increases
Correct answer is B
In credit transactions, the transfer of ownership takes place before payment to the supplier i.e settlement is at a future safe.
The type of stock recorded in the trading account of a manufacturing business is ...
i) Stock of goods ii) Furniture iii)Creditors iv) Cash at bank v) Loan from the bank De...
Prime cost is one of the following ...
Use the following information to answer the given question \(\begin{array}{c|c} & Dr & Dr &...