In Branch Accounting the balance on stock reserved Account at the end of the period is shown in the balance sheet by the way of deduction from

Related MCQs

• Stock and Debtors method of branch accounting is generally used where branch turnover is substantially
• Actual petty expenses paid by branch from petty cash are to br shown separately in Branch Account.
• The removal of loading from the items of branch stock is adjusted through branch……………..Account
• The normal and abnormal stock of goods doesn’t appear in branch account as the closing stock is at the…………….figure.
• The closing balance of book debts account is ascertained by preparing branch ………………Account.
• ………….method of branch accounting is usually adopted when the branch is of the small size.
• The method of Branch Accounting varies with the nature and the status of branch.
• Dependent branch doesn’t keep any book of account as their entire Accounting work is performed by the head office.
• Non-Banking Assets must be shown in the Balance Sheet in scheduled 8.
• Deposits from Society and individuals should be shown separately to the …….. side of balance sheet.