Sales Return is asset or laibility

Answer Posted / qamar ali

Sale return is our asset because it is the part of our
assets which was sold.When it comes back our assets increase
an we debit it.

Is This Answer Correct ?    5 Yes 0 No



Post New Answer       View All Answers


Please Help Members By Posting Answers For Below Questions

what is Calculation of Depreciation for 4 to 5 Years?

1716


What is Going Concern, What is Dual Entry , What is Business entity and what are the names of Stock exchanges and currency of some countries, stock market related questions, Exchange rates, Banks and other informations

1512


what did you mean by cash credit limit account ?

2274


Give a brief explanation of the fundamental accounting concept of prudence

1715


Expand DPCO

1650






what are the aspects an auditor has to see when he/she is doing the Purchase,Sales and Journal Vouching

1485


Purchase book is a ----------journal

1696


why you choose accounting as your career ? ?

1339


Expand-------ATBN

1699


Straight line method to using Indian company names

1471


if jj form not cancelled within 1hour,wat to do

1164


Hi, I am doing Data Entry jobs in Accounts. please let me know "How to maintain Medical stores accounts"?

1733


what s BSPL and its significance?

3613


What is the Assets & Liabilities?

1780


intorduse your self ? what to say if iam fresher.

2086