i think its because inventory is something that could be seen in different accounting years, for example your opening and closing inventory. There needs to be a transfer from the purchases account to the inventory account, and the question mentions goods intended for resale, it means that the transaction was done to procure the goods, thats why it is purchases instead of inventory. Hope it helps
Very well explained
😄
Glad you liked it!
Thank you❤️
In question 3 why is it not inventory? The goods are bought for resale right
i think its because inventory is something that could be seen in different accounting years, for example your opening and closing inventory. There needs to be a transfer from the purchases account to the inventory account, and the question mentions goods intended for resale, it means that the transaction was done to procure the goods, thats why it is purchases instead of inventory. Hope it helps
Hi teacher Prashna, will you also be uploading the october/november 2023 varients 2and 3 papers too?
Hii, yes. The variant 2 has been uploaded and 3 will be uploaded soon.
Teacher prashna are you a marker in this Subject? You are so good!!!
I'm not a marker. But I do like the subject.