Question: Question: 1.Explain the term Sales and Purchases. 2.Explain the terms Credit sales and Credit Purchases. 3.What do you understand by the term Returns outwards and

Question: 1.Explain the term "Sales" and "Purchases". 2.Explain the terms "Credit sales" and "Credit Purchases". 3.What do you understand by the term "Returns outwards" and "Returns Inwards". 4.What is the difference between "Cost accounting" and "Financial accounting"? 5.What do you understand by the term "Expenses" and "Revenue"?

Note : Answer in word form(typing) and donot give in handwitten form.

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