In case of Memorandum Method, when there are three co-ventures, each co-venturer opens in his books for the venture
A) One account
B) Two accounts
C) Three accounts
D) None
Correct Answer:
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Q16: In accounting consignment means
A)Goods forwarded from one
Q17: The consignor is
A)Principal
B)Agent
C)Debtor
D)None of them
Q18: In the books of consignor, the expenses
Q19: In the books of consignor, the balance
Q20: Joint venture account is a
A)Personal account
B)Real account
C)Nominal
Q22: P and Q are partners sharing profit
Q23: When a complete set of books are
Q24: Consignee becomes a debtor of the consignor
Q25: Del credere commission is given when the
Q26: No journal entry is required to be
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