Given:
I. Cash refunds
II. Debit note issued
III. Dishnoured cheque
IV. Purchases
The item on the credit side of purchase ledger control account includes
I, II and IV only
I and IV only
I and II only
I, II and III only
Correct answer is B
The item on the credit side of the purchase control account or total creditor control account are: purchase (credit), cash refunds, discount withdrawn, debit note received.