Goods sent by the head office at the end of the year but not received by Branch before the year ended is known as

Related MCQs

• Dependent branch doesn’t keep any book of account as their entire Accounting work is performed by the head office.
• ………….method of branch accounting is usually adopted when the branch is of the small size.
• Stock and Debtors method of branch accounting is generally used where branch turnover is substantially
• The removal of loading from the items of branch stock is adjusted through branch……………..Account
• Actual petty expenses paid by branch from petty cash are to br shown separately in Branch Account.
• The method of Branch Accounting varies with the nature and the status of branch.
• 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
• The normal and abnormal stock of goods doesn’t appear in branch account as the closing stock is at the…………….figure.
• The branches which are totally dependent on head office are also termed as Agency Branches.
• Every banking company incorporated in India must transfer to the Reserve fund a sum equivalent to not less than 25% of profit of each year before declaration of dividend.