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

Answer

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.

Write a Comment

Your email address will not be published. Required fields are marked *