The method of Branch Accounting varies with the nature and the status of branch.

Related MCQs

• Stock and Debtors method of branch accounting is generally used where branch turnover is substantially
• ………….method of branch accounting is usually adopted when the branch is of the small size.
• The important objective of Accounting standards is to the …………..diverse accounting policies and practices at present in use in India.
• 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
• Dependent branch doesn’t keep any book of account as their entire Accounting work is performed by the head office.
• 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 normal and abnormal stock of goods doesn’t appear in branch account as the closing stock is at the…………….figure.
• Foreign Branch almost invariably trade independently and records their transaction in
• The accounting standards Board (India) was formed by the Institute of Chartered Accountants of India in April---------------