Financial Accounting 2 Set 4

Bachelor of Business Administration (BBA)

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This set of Financial Accounting 2 Multiple Choice Questions & Answers (MCQs) focuses on Financial Accounting 2 Set 4

Q1 | Branch Trading &Profit & Loss A/c is only a _________ account not forming part of thefull accounting system.
Q2 | In final account system, Branch Trading and Profit & Loss A/c is prepared at ________
Q3 | Under Final A/c system, the profit or loss made by the branch is determined by preparing
Q4 | The Branch Account prepared under Final Account System is the nature of:
Q5 | Dependent branch makes:
Q6 | All branch expenses such as rent, salary are paid by H.O in case of:
Q7 | Branch Trading & Profit & Loss A/c is prepared to incorporate all _____
Q8 | The difference between goods sent by H.O. and received by branch is known as _______
Q9 | The stock reserve for unrealised profit will be ________ to the H.O profit & Loss A/C
Q10 | ____________ account is prepared to adjust the loads included in the value of openingstock and closing stock.
Q11 | ____________ account shows the shortage or surplus of stock.
Q12 | The profit included in surplus or shortage of stock is transferred to ______ account
Q13 | The balance of branch adjustment account is transferred to _________ account
Q14 | An ordinary partnership business can have:
Q15 | In the absence of an agreement profit and loss are divided by partners in the ratio of:
Q16 | In the absence of an agreement, Interest on loan advanced by the partner to the firm isallowed at the rate of:
Q17 | Current accounts of the partners should be opened when the capitals are:
Q18 | Investment in partnership is made by introducing:
Q19 | Partnership is formed by the partners by:
Q20 | Any partner who investments in the business but does not take active part in the businessis:
Q21 | The written agreement of partnership is called:
Q22 | Under fixed capital methods, profit will be credited to:
Q23 | The members of partnership firm are individually called as:
Q24 | Liability of partners in a partnership business is:
Q25 | Capital of the partners are maintained by:
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