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WAEC Financial Accounting 2008 Question 8

Question 8

Final Accounts of a Sole Trader

Returns inwards is also called

  1. A.purchases returns
  2. B.sales returns
  3. C.goods on sale or return
  4. D.goods in transit.
Show the answer and explanation

Answer: B (sales returns)

Explanation

Returns inwards are goods returned by customers: sales returns.