Question

Purchases book is considered as a subsidiary book

True or false?

Answer 1

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⇨ True

Purchase book is a Subsidiary book. The Purchase book or Purchase day book contains the record of all credit-purchase. Cash book accommodates the records of all goods-purchase. A Purchase book does not hold the record of purchases of assets.

Answer 2

Answer:

Subsidiary books are the books of original entry that are maintained under the modern methods of book-keeping for recording the various transactions. In purchase book the transactions relating to credit purchase of goods are recorded. ... This book is also known as Purchase Journal or Bought Day Book.