PRC-1 · Chapter 3 · Question 57 of 100
In which specific ledger would the 'Return Inwards' (Sales Returns) account be permanently located?
Test yourself: pick an answer
Reveal answer & explanation
Correct answer: C) General Ledger
Explanation
The Return Inwards account is a nominal account that reduces total sales revenue. All nominal accounts for income and expenses are maintained in the General Ledger.
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