WAEC Accounting 2014 Objective — Question 41
Question 41 of 50 from the West African Examinations Council (WAEC) Accounting 2014 Objective paper, with the correct answer and a full explanation.
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Which of the following information is recorded in the returns outwards book?
- A. Goods purchased on credit and subsequently returned to supplierCorrect
- B. fixed asset bought on credit and subsequently returned to supplier
- C. Cash payment received from a customer and subsequently returned
- D. Goods sold to a customer and subsequently returned to the business
Explanation
The returns outward book is used to record goods purchased on credit that are subsequently returned to the supplier.
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