Quiz – Credit Note – MCQ – Accounting Capital Premium

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Time Limit: Unlimited
Level: Easy to Medium
Question Type: MCQs
Passing Score: 90%
No. of Questions: 11

Quiz – Credit Note – MCQ

Credit Note may be treated as an invoice, however, it is different from that.

Credit Note is issued for the value of goods _____.

Credit Note shows a _____ currency value (amount).

Credit Note is usually sent for reasons such as low stock & high taxes.

Credit Note reduces _____ for the seller.

Credit Note may also be used in case of cash sale returns.

Credit Note reduces _ in books of the _.

The seller updates “Sales Returns Book’ on the basis of a debit note.

_____ will cancel the respective receivable upon sending a credit note.

Credit Note is a document sent by a _____ to confirm the details of goods returned.

_____ is sent by a seller to the buyer in case of goods returned.

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