The Branch Account prepared under Final Account System is the nature of:

Related MCQs

• In final account system, Branch Trading and Profit & Loss A/c is prepared at ________
• Under debtors system which account is prepared by head office to calculate profit or loss of each branch:
• Under Final A/c system, the profit or loss made by the branch is determined by preparing
• When Branch pays expenses for H.O. the following account is debited in the books of the branch _______
• The balance of branch adjustment account is transferred to _________ account
• 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.
• 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 ______
• For finding the amount of sundry expenses paid by the branch, the following a/c should be prepared.
• Branch Trading & Profit & Loss A/c is prepared to incorporate all _____
• Branch Trading &Profit & Loss A/c is only a _________ account not forming part of the full accounting system.