Question 5 Under perpetual inventory system, when there is purchase return then: Not yet answered Marked out of 1.00 Flag question Question 6 Which one of the following is not a cash transaction? Not yet answered Marked out of 1.00 +Flag question Question 7 Not yet answered Marked out of 1.00 Flag question Question 8 Not yet answered Marked out of 1.00 Flag question Cost of building assets includes: Inventory will be credited Purchases return will be debited Purchases return will be credited Inventory will be debited Goods purchased for cash OMR 300 Additional capital introduced by the owner OMR 1,000 Money withdrawn from business for personal use OMR 200 Depreciation charged OMR 500 Cost of repair before its use All of these are true Cost of purchase Cost related to the purchase documentation Which of the following statements about notes receivables is true? None of these (1 Mark) (1 Mark) (1 Mark) For holder it is notes payable and for issuer its notes receivable Document used to record notes receivable is called promissory note It is normally issued in case of cash transactions (Mark)