Under stock and debtors system, which of the following accounts is prepared with a view to ascertain Gross Profit of the Branch?
A) Branch Adjustment Account
B) Branch Profit and Loss Account
C) Branch Expenses Account
D) Goods Sent to Branch Account
Correct Answer:
Verified
Q16: It is a system of finding out
Q17: _Account is prepared with a view to
Q18: Transaction between branches are called_.
A)Inter? branch transactions
B)Branch
Q19: _ represents goods sent by head office
Q20: HO sends goods to branch at 20%
Q22: Under Debtors' system, credit sales are
A)Debited to
Q23: Branches may be classified into
A)Account branches and
Q24: Transaction between branches are called
A)Branch transaction
B)Inter branch
Q25: The main reasons of keeping branch accounts
A)to
Q26: Profit generated from the branch is transferred
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