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State whether a large order of …

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State whether a large order of supply of goods received by the firm be recorded in books.

Posted by Ritik Panwar 5 years, 5 months ago

CBSE > Class 11 > Accountancy

3 answers

Shaweta Mittal 5 years, 5 months ago

No because it does not affect the financial position of business

Ritik Panwar 5 years, 5 months ago

No

Gaurav Seth 5 years, 5 months ago

No, it is not a transaction.

Only transactions that results in actual resource flow is recorded. Order receiving will materialise into sales when goods are delivered or handed over to the buyer. So, this thing is not recorded in accounting records, however, it will be entered in sales order book, which is not part of accounting system.

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