The major point of agreement carried by the partnership deed is?
5% interest annum on any loan
An oral agreement among the partners
Method of inhertance by the partners' children
The profit and loss sharing ratio of the partners
Correct answer is D
No explanation has been provided for this answer.
Goods invoiced to a branch can be sent using?
Cost price, selling price and fixed percentage on selling price
Cost price, selling price and fixed percentage on cost price
Cost price and fixed percentage on cost price
Cost price and fixed percentage on selling price
Correct answer is B
No explanation has been provided for this answer.
Branch supplies and branch receipts
Branch stock account and goods sent to branch accounts
Goods sent to brannch account and branch receipt account
Goods sent to branch accounts and branch supplies
Correct answer is B
No explanation has been provided for this answer.
The correct entries to record goods transferred to branch from head office is to debit?
Branch stock account and credit goods sent to branch account
Branch supplies account and credit branch stock account
Branch stock account and credit purchases account
Goods sent to branch account and credit branch stock account
Correct answer is A
No explanation has been provided for this answer.
The cost method of charging goods to branch is used where?
Branch stock adjustment account is in use
The retention of branch trading account is in addition to the cost of goods sold
Goods are sent without invoice or any source documents
Goods are of a perishable nature on which a pre-determined price is inapplicable
Correct answer is A
No explanation has been provided for this answer.