Stock and debtors system is generally used when goods are sent to the branch at _____

Related MCQs

• Goods are sent to branch at cost plus 20%. If closing stock of the branch is Rs 60,000 at invoice price, Rs ______ will be credited to stock reserve a/c.
• Opening balance of debtors a/c is Rs 1,40,000. Credit sales is Rs 10,74,000 and closing balance of Debtors a/c is Rs 1,90,000. What is the amount of cash collection from the debtors?
• Goods sent by HO but not received by branch before the end of the year, by debiting it to goods in transit, which account should be credited?
• H.O. sent Rs 5000 as petty cash to branch during the year. Opening and closing balances of petty cash was Rs 1400 and Rs 400 respectively. Then petty expenses of the branch during the year will be ______
• If the opening balance of debtors is Rs 16,000 and closing balance is Rs 80,000, cash received from debtors is Rs 35,000 and bad debts is Rs 1,000, then what will be the amount of credit sales?
• Provision for discount on debtors is calculated on the amount of debtors.
• Under debtors system which account is prepared by head office to calculate profit or loss of each branch:
• The difference between goods sent by H.O. and received by branch is known as _______
• H.O. sent goods to branch at invoice price 50% plus on original price. How many percentage of profit will be on Invoice price?
• Under the stock and debtor system, Branch A/c is treated as ______