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Question Practice

What is a common misconception about credit notes in the context of sales returns?

Attempt the question, check the explanation, and continue with similar questions to build confidence before exams.

MCQ_SA
CBSE
Class 11
Accountancy
Financial Accounting - I
Recording of Transactions - II
Question Bank

What is a common misconception...

Single Answer MCQ
Q-00054027

What is a common misconception about credit notes in the context of sales returns?

1

They are issued for all returns regardless of condition

2

They must always reflect a cash refund

3

They are created by the buyer, not the seller

4

They decrease the total sales recorded

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