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What does purchase book record?

a) - All cash purchases

b) - All credit purchases of goods and asset

c) - All credit purchases of goods and trade only

d) - None of the above

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Question added by Shamseer KM , Accounts and Admin Payroll , KBM Group
Date Posted: 2015/11/26
Mohamed Arsad Sehul Abdeen
by Mohamed Arsad Sehul Abdeen , Accountant , Naqel Express

 All credit purchases of goods which will for resale

Nasim Ahmad Nasim Ahmad
by Nasim Ahmad Nasim Ahmad , Accountant Warehouse , ALMAJAL ALARABI GROUP

b) Aall credit purchases of goods and asset of a company

Zohair Haiderally
by Zohair Haiderally , Vice President , Copal Amba (Moody's Analytics Company)

A purchase book records only all credit purchases of goods and trade. Cash purchases are recorded via the cash book while the credit purchase of an asset is recorded via a journal entry.

MD MUNZIL HOQUE MUNZIL
by MD MUNZIL HOQUE MUNZIL , ACCOUNTS MANAGER. , MAJID AL RIKAI INDUSTRIAL CO

purchase book record both of cash & credit  purchase.of goods & trade.

Muhammad Sabith
by Muhammad Sabith , Accountant , SIMORA

Answer b) - All credit purchases of goods and asset

B. All credit purchase for goods and assets.

Sajjad Ali Chawla
by Sajjad Ali Chawla , Office Manager , New Workshop Aluminium & Steel Works

c) - All credit purchases of goods and trade only

FITAH MOHAMED
by FITAH MOHAMED , Financial Manager , FUEL AND ENERGY CO for transportion petroleum materials

c) - All credit purchases of goods and trade only

purchases  book  proof of purchase operations only creditor. The cash purchase operations are recognized directly in the cash book (payments), and where the purchases are party owes restricts the daily purchases in the book is the creditor parties to procurement (creditors)

Vinod Jetley
by Vinod Jetley , Assistant General Manager , State Bank of India

(c) In purchase book, we record all transactions relating to credit purchases of goods only and these goods are trading goods.

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