It is a system of finding out the profit made by a head office at a branch by preparing an account called_______.

Related MCQs

• Which of the following statements is/are true? (i) Drawings Account is a Nominal Account (ii) Capital Account is a Real Account (iii) Sales Account is a Nominal Account (iv) Outstanding salaries account is a Nominal Account (v) Patents Account is a Personal Account
• Goods sent by the head office to the branch but not received by the branch before the close of financial year are credited by head office to
• _________ represents goods sent by head office to the branch or by the branch to the head office but not received by other
• Under______ system branch profit or loss is ascertained by preparing branch accounts
• Under debtors system which account is prepared by head office to calculate profit or loss of each branch:
• When a branch purchases fixed assets and the assets account is to be kept in the books of the head office, the branch makes the following entry
• Cash remitted by branch but not received by the head office is debited by the head office to _____
• A B C are three partners sharing profit and loss in the ration of 2:2:1, B recently obtained MBA degree from Oxford University, accordingly the partner decided to give him a guaranteed profit of ` 60,000. Find the share of profit of B if the firm made a net profit of ` 1,25,000 during 2012-13
• Goods sent by the Head Office to the branch but not received by the branch are termed as
• By what rate the balance of head office account is converted in foreign branch