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Advance Accounting MCQs: 206 Questions & Answers in Faculty

206 Advance Accounting MCQs in Faculty with answers & explanations. Page 3. Practice objective questions for competitive exams, interviews & self-assessment… Use the answer toggle below to show or hide all solutions, tap an option to check one question, or open a question for its own page.

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Advance Accounting MCQs: 206 Questions & Answers in Faculty

The method of Branch Accounting varies with the nature and the status of branch.

Actual petty expenses paid by branch from petty cash are to br shown separately in Branch Account.

The independent branches are autonomous as they are allowed to make their own purchases from open markers and pay for their expenses.

The branches which are totally dependent on head office are also termed as Agency Branches.

To fulfill the audit requirements under section of the company act 1956

Foreign Branch almost invariably trade independently and records their transaction in

All items of stock in Trading and Profit and loss Account are to be converted into cost price if these are given at an _

A……………..system of departmental account is more convenient where the number of department are very small

A ………………is generally a physical part of the business established under the same roof.

The removal of loading from the items of branch stock is adjusted through branch……………..Account

…………….is mentioned in the balance sheet as foot note.

The investment on hand at the end of the period are valued at cost price or market whichever is …………

Dividend received on shares is comes to the……………. side of profit and loss account.

Interest paid and payable comes to the……………side of the profit and loss account.

Rule number 61 of the Maharashtra Co-operative Society Rule 1961- the society has to prepare final statement within……….days.

Transactions involving receipt in……………..are recorded on receipt side of cash book.

Managing committee of every Society shall prepare annual statement of accounts within…………… days.

All sums of…………….received and expended by the Society and the matters in respect of which receipts and expenditure take place.

The Maharashtra co-operative Society Rules Act ……….

The word………..Is working together for common purpose.

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