Foreign Branch almost invariably trade independently and records their transaction in

Related MCQs

• Stock and Debtors method of branch accounting is generally used where branch turnover is substantially
• The method of Branch Accounting varies with the nature and the status of branch.
• ………….method of branch accounting is usually adopted when the branch is of the small size.
• 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.
• Dependent branch doesn’t keep any book of account as their entire Accounting work is performed by the head office.
• The independent branches are autonomous as they are allowed to make their own purchases from open markers and pay for their expenses.
• The normal and abnormal stock of goods doesn’t appear in branch account as the closing stock is at the…………….figure.
• Single entry constitutes incomplete records rather than single entry
• In…………………entry system no records are kept for real or nominal Account.