Carriage inwards are included on goods

Assessment: WAEC SSCE - Financial Accounting - 1998 (Objective) Subject: Financial Accounting

Question 1 Report

Carriage inwards are included on goods
Answer Details
Carriage inwards refers to the cost of transporting goods from the supplier to the buyer. These costs are incurred by the buyer and are therefore included in the cost of the goods purchased. This means that carriage inwards is included on goods that are purchased, which makes the correct answer "purchases".
Read lesson note on Cashbook (JAMB)
Read lesson note on Nature And Significance Of Accounting (JAMB)
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