If unsold goods costing 20,000 is taken over by venturer at 15,000, th – McqOptions

MCQOPTIONS

1.	If unsold goods costing 20,000 is taken over by venturer at 15,000, the joint venture account will be credited by
A.	20,000
B.	15,000
C.	5,000
D.	Nil
Answer» C. 5,000

Discussion

No Comment Found

Related MCQs

In a overdraft balance as per cash book, a cheque of 1,250 deposited into bank but not recorded in cash book will be
Y-draws a trade bill of 12,000 for 6 months on X. After holding the bill for 2.5 months, Y discount the bill with bank @ 10% p.a. The amount of discount on bill is
Goods of the invoice value of 2,40,000 sent out to consignee at 20% profit on cost, the loading amount will be
Which balance is not considered for closing entries on t he basis of trial balance for transferring to Trading and Profit & Loss Account?
The valuation procedure for stock is cost or net realisable value, whichever is lower. The procedure follows as per
Which financial statement represents the a ccounting equation as Assets = Liabilities + Owner s equity?
It goods worth 1,750 returned to suppler is wrongly entered in sales returned book as 1,570 then
When credit balance as per pass book is the starting point of a Bank Reconciliation Statement then bank charges are
At the time of dishonor of an endorsed bill, which account would be credited by the drawee?
Kasi draws a bi ll on Shyam for 5,000 and Kasi endorsed it to Ram. Ram endorese it to Rahul. The payee of the bill will be