Is it correct to say that purchases book is a record prepared from the invoices received from suppliers?

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Solution

Yes, as the source documents for recording entries in the purchases book are invoices or bills received from the suppliers of goods.

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Q. Purchases journal (also called Purchase book or Invoice book or Invoice journal) is used for recording ________________.

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Q. Cost of Physical Stock Rs.2,30,000
Goods purchases for Rs.10,000 received but omitted to be recorded
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