Loss on Joint venture is —

Related MCQs

• P and Q are partners sharing profit and loss in the proportion 2:1 in the Joint Venture. P keeps accounts of joint venture. Q gave Rs. 5,000 to P for joint venture business. P prepared accounts and showed profit of Rs. 2,250. P settled Q’s account. In the books of Q, Rs. _______ profit is credited.
• When a complete set of books are maintained for the joint venture and in case where an amount is spent on account of expenses or for purchasing goods for the venture, the entry would be
• Profit or loss on joint venture business is shared by the co-venturers ——
• Profit or loss on joint venture business is shared by the co-venturers:
• Profit or loss on a joint venture is shared by the co-venturers
• What does the balance in Memorandum Joint Venture A/c shows—
• Joint Venture is a ——
• Joint Venture with…………..(another co-venturer) A/c is a ——
• Which of these is not a feature of a Joint venture
• Which of these accounts are not opened in a joint venture