In ___ Transaction personal account may not be involved while in ___ Transaction personal account is definitely involved?

A. General, Journal
B. Cash, Sales
C. Credit, Purchase
D. Cash, Credit


Correct Answer: C. Credit, Purchase

Detail about Mcqs

The more appropriate answer would be a modification of Option C: “In credit transactions, personal accounts may not be involved, while in cash transactions, personal accounts are definitely involved.” This is a more accurate representation of the concept.

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