If we purchase any fixed asset in credit, we can pass it from A. Payment mode B. Receipt mode C. Purchase mode D. Contra mode

The correct answer is: C. Purchase mode

A fixed asset is an asset that a company owns and uses for more than one year. Fixed assets can include land, buildings, equipment, and vehicles. When a company purchases a fixed asset on credit, it records the purchase in the

The other options are incorrect because:

• Payment mode is used to record payments made to suppliers.
• Receipt mode is used to record receipts from customers.
• Contra mode is used to
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  record adjustments to assets and liabilities.

I hope this helps! Let me know if you have any other questions.