Majority of commercial transactions are termed credit tra...
Majority of commercial transactions are termed credit transactions, which means
The buyers pay immediately for goods bought
Settlement is deferred to a future date
No account will be opened
Item of expenditure increases
Correct answer is B
In credit transactions, the transfer of ownership takes place before payment to the supplier i.e settlement is at a future safe.
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Cost of raw materials available------ 32,000 Manufacturing wages -----10,000 Factory expenses...