When goods are purchased for the joint venture, the account to be debited is

Related MCQs

• A purchased goods costing 2,60,000 for joint venture with B. B sold a major part of the goods at cost plus 25% on cost, for 2,50,000. Balance of goods were taken over by B at cost less 10%. Find out profit/loss on Joint Venture.
• If X co-venture takes away of goods under memorandum Joint Venture Method then he will debit these goods in his books to
• In a joint venture X and Y sharing p rofit and loss equally, X purchased goods costing of 40,000 and Y sold the goods for 50,000. X is entitled to get 1% commission on purchase and Y is entitled to get 5% commission on sales, the profit will be
• What is the nature of joint venture with co-venture account?
• If unsold goods costing 20,000 is taken over by venturer at 15,000, the joint venture account will be credited by
• Which of the following account(s) is (are) maintained in the joint venture when separate set of books are maintained?
• Joint venture account is of the nature of
• Memorandum joint venture account is
• Goods purchased from Mr. A but wrongly entered in the account of Mr. B. The rec tification of error will result in
• Which one of the following is not the feature of a joint venture business?