--%>

Define Purchase return

Describe the term Purchase return with suitable example?

E

Expert

Verified

Purchase return signifies the return of goods that is received by businessman due to any fault/mistake in goods.

Assume that, you have bought 10 computers for selling. However when there is fault in one computer and you return this to your supplier, then this will be purchase return.

   Related Questions in Financial Accounting

  • Q : What is Assets in Accounting Assets are

    Assets are those resources that the business owns. Assets are the things of value owned which enable the firm to get cash or befit in future. There are mainly two types of assets: - Current assets & Fixed assets for e.g. cash, f

  • Q : Explain Direct expenses Explain Direct

    Explain Direct expenses. Also write its main illustrations?

  • Q : Firm Overview Midterm Project The

    Midterm Project The Midterm Project has two parts. First, using the fact pattern below, develop a list of five to eight goals for the law firm. A goal

  • Q : What do you mean by the term Equity

    What do you mean by the term Equity. Briefly explain it.

  • Q : Implement a user-defined matlab

    Your solution to the problem should be housed within a while loop, which allows the grader to test your solution repeatedly without having to re-execute the script, as shown in class. You should first display the purpose of the program, and then you should prompt the

  • Q : Closing entry for financial accounting

    A journal entry that moves the effects of revenues or expenses to the owners' equity account. Only temporary account that is on the income statement is closed. The purpose of a closing entry is twofold. First, it moves revenue to retained earnings on the balance sheet

  • Q : Wind turbine I have started to design a

    I have started to design a wind turbine but I am stuck now. I would like you to have a look to my design and tell me what do I have to do.

  • Q : Link financial accounting and

    is there a link between financial accounting and programmed decision

  • Q : Write a Matlab function Fourbar Write a

    Write a Matlab function Fourbar (r1,r2,r3,r4,theta,speed) that animates three cycles of a fourbar linkage having link lengths r1, r2, r3, r4. The function first checks to ensure the mechanism isGrashof (including the change-point c

  • Q : Impressions using stereotypes How we

    How we form impressions by using stereotypes. Explain? Is stereotyping always negative? Give an example.