A. Merchandise return
B. Purchase return
C. Return inwards
D. Sales return
Related Mcqs:
- If goods worth 1,750 returned to a supplier is wrongly entered in sales return book as 1,570, then
A. Net Profit will decrease by 3,140
B. Gross Profit will increase by 3,320
C. Gross Profit will decrease by 3,500
D. Gross Profit will decrease by 3,320 - Goods Return by the customer are termed as :
A. Purchase return
B. Customer return
C. Sales return
D. Inventory return - A discount of $2000 was given to a supplier on his prompt repayment of debt but the cashier entered the gross amount in cash book. What should be the adjustment in cash to work out the correct balance of cash book?
A. $2000 will be debited in cash book
B. $2000 will be credited in cash book
C. $4000 will be debited in cash book
D. $4000 will be credited in the cash book - Find the cost of goods sold if goods are sold for 2,000 at 25% profit on cost?
A. 1,600
B. 1,500
C. 1,000
D. 1,800Updated by: Mohammad Ejaz
- Budgeted sales for the next year is 5,00,000 units. Desired ending finished goods inventory is 1,50,000 units and equivalent units in ending W-I-P inventory is 60,000 units. The opening finished goods inventory for the next year is 80,000 units, with 50,000 equivalent units in beginning W-I-P inventory How many equivalent units should be produced?
A. 5,80,000
B. 5,50,000
C. 5,00,000
D. 5,75,000 - Sales return is also known as____________?
A. Return received
B. Return Payed
C. Return inward
D. Return outward - Average Accounting Return is a measure of accounting profit relative to:
A. Book value
B. Intrinsic value
C. Cost
D. Market value - If the asset turnover and profit margin of a company are 1.85 and 0.35 respectively, the return on investment is.
A. 0.65
B. 0.35
C. 1.50
D. 5.29 - When goods, in which business deals are sold, it is called___________?
A. Purchases
B. Return inward
C. Sales
D. Return outwards - Goods sent on approval basis’ have been recorded as ‘Credit sales’. This is an example of____________?
A. Error of principle
B. Error of commission
C. Error of omission
D. Error of duplication
The correct answer to the question: "Goods return to supplier are known as:__________?" is "Purchase return".
7 Comments
Goods return by Customer can be called as Purchase return…. how can we say goods return TO customer is purchase return
if we are using TO then it can be good are return by customer to a seller
Question updated now.
Good return to supplier not customer kindly correct the question
thanks for pointing out mistake in question title. question updated.