Multiple Choice Questions on If we take goods for own use we should ........ for Commerce ( 11 and 12th) Preparation

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Multiple Choice Questions

If we take goods for own use we should ........

Accountancy (11th) Chapter-5 Bank Reconciliation Statement
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    If we take goods for own use we should:

    Debit Drawings Account, Credit Purchases Account

    Correct Answer

    Debit Drawings Account: Credit Stock Account

    Incorrect Answer

    Debit Sales Account: Credit Stock Account

    Incorrect Answer

    Debit Purchases Account: Credit Drawings Account

    Incorrect Answer
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    Explanation:

    Debit Drawings Account, Credit Purchases Account

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