Question

Third term purchases include only credit purchase of goods

Answer 1

Answer:

yes

Explanation:

Third term also refers to m3 money supply so includes only purchase of goods

Answer 2

Explanation:

We have seen in accounting there are two types of accounts – accounts of primary entry and accounts of secondary entry. There are some specialized books of primary entry known as subsidiary books. One of the important subsidiary books is the purchase journal or the purchase day book. Let us take a detailed look.

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