The system of keeping accounts generally adopted by small size branches are:

Related MCQs

• Debtors system of keeping branch accounts are generally
• Branches not keeping full system of accounting is called________.
• Branches not keeping full system of accounting is called
• Which of the following branches, taking into consideration the scope of authority and responsibility, prepares its own independent final accounts?
• The main reasons of keeping branch accounts
• Single entry system of book – keeping is generally followed by:
• Single entry system of book keeping system
• Match List I (Financial Statements and Accounts) with List II (special matters associated with statements and accounts) and select the correct answer using the codes given below the lists: List I List II i) Receipts and Payments Account I. Revenue ii) Income and Expenditure Account II. Cash iii) Club subscription received in III. Liability Advance Account Codes:(i) (ii) (iii)
• P and Q are partners sharing profit and loss in the proportion 2:1 in the Joint Venture. P keeps accounts of joint venture. Q gave Rs. 5,000 to P for joint venture business. P prepared accounts and showed profit of Rs. 2,250. P settled Q’s account. In the books of Q, Rs. _______ profit is credited.
• The system of keeping incomplete record is termed as