Which of the following methods of invoicing goods to bran...
Which of the following methods of invoicing goods to branches facilitate easy checks on the activities of branches?
Cost price
Fixed percentage on cost
Selling price
Invoice price
Correct answer is D
Invoice Price Method Branch Accounting. In branch accounting, head office sends the goods to branch on the invoice price instead of cost price because with this, company can hide his profit margin from branch employees. In the invoice price, there are two prices will be included on is cost price and second is profit %.
Bank reconciliation statement is prepared to reconcile the differences between ...
Find the average stock for the period ...
Goods returned to branch by customers is recorded in the head office books be debiting? ...
Which of the following bases of accounting does not make allowance for depreciation? ...
Which of the these entries is wrong PURCHASES ACCOUNT \(\begin{array}{c|c} & N & &...
\(\begin{array}{c|c} & N \\ \hline sales & 45,000 \\ \text{Opening stock} & 20,000 \\ \t...
What is the net profit made by department S? ...
\text{Capital} & 12,700 & \text{Purchases} & 7,100 \\ \hline \text{Debtors} & 4,...
Changes can occur in partnership when: i. Partnership is dissolved ii. There is amalga...