Question

Purchase means:
(a) Transfer of ownership of goods by a seller in favor of a buyer
(b) Physical possession of goods by a person from another person
(c) Taking articles from a friend for use for some time period
(d) Taking goods/articles on rent/hire from the owner

Answer 1

(a) transfer of ownership of gopda by a seller in favour of buyer.

Answer 2

'Purchase' means 'transfer of 'ownership of goods' by a seller in favor of a buyer.'

Answer: Option (a)

Explanation:

Purchase is a procedure through which a person gets the ownership of some products moved in his name from another, on payment of money. Same as, the sale is a procedure through which the ownership of some products is transferred from one person (seller) to other people (buyer), for a price. So, sale and purchase always go jointly. Whenever there is a purchase, there is also a sale and vice versa.