INTERVIEW QUESTIONS ACCOUNTING PROCESS SUBSIDIARY BOOKS DETAILS

Question: Purchase Book is used to record:
a) All purchases of goods b) All sales of goods
c) All credit purchases of goods d) All accounts maintained

Answer: (c) All credit purchases of goods
Description: Purchase Book is used to record all credit purchases of goods dealt in or materials and stores used in the factory. Cash purchases and credit purchases of things other than the goods are not entered in purchase book.

(c) All credit purchases of goods
Description: Purchase Book is used to record all credit purchases of goods dealt in or materials and stores used in the factory. Cash purchases and credit purchases of things other than the goods are not entered in purchase book. Source: CoolInterview.com

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