Question

X buys goods on credit from Y. what is the name for the document used by X to settle the liability to Y?
A. Cheque
B. Credit note
C. Receipt
D. Statement of account

Correct answers will be mark as BRAINLIEST​

Answer 1

Credit note

• X buys goods from Y
• here X is buying means debiting
• Y is getting means crediting
• So Y should take credit note and X should take receipt

Option B

Answer 2

Answer:

b) Credit note

Explanation:

Credit note is the name for the document used by X to settle the liability to Y. Hence, option (b) is the correct answer.