Equally
In accordance with an established
In proportion of current account balances
In proportion of weighted average of capital
Correct answer is A
Profit or loss are expected to be share equally in the absence of any agreement
17,500
38,200
20,700
27,200
Correct answer is C
No explanation has been provided for this answer.
The basis of accounting for public sector is
Accrual basis
Cost basis
Revenue basis
Cash basis
Correct answer is D
This is the basis for recording in government accounting where revenue are recorded when cash is received.
The following account are prepared when goods are sent to branch except
Branch stock
Goods set to branch account
Branch adjustment account
Branch debtors account
Correct answer is D
Branch debtors account is used to exercise control over branch debtors. It is maintained when the branch is allowed to sell goods on credit. This account records transactions with the branch debtors and is prepared like sundry debtors account.
Conversion
Control
Allocation
Analysis
Correct answer is B
No explanation has been provided for this answer.