Branch Accounting

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Branch Accounting

23 Que, 23 Marks

Your Name *

Address *

Contact No *

Mail id *

1- Branch which does not maintain its own set of books is............. *

1 point

dependent branch

independent branch

foreign branch

local branch

2- The business policies and the administration of a branch are wholly controlled by the head office the type of branch is.......... *

1 point

independent branch

dependent branch

foreign branch

local branch

3- A branch set up merely for booking orders which are executed by head office is................. *

1 point

independent branch

dependent branch

foreign branch

local branch

4- Dependent branch make.............. *

1 point

only cash sales

only credit sales

cash and credit sales

instalment sales.

5- All branch expenses such as rent, salary, are paid by the head office in case of................ *

1 point

independent branch

local branch

foreign branch

dependent branch

6- Under stock and debtors system the head office opens............. *

1 point

branch adjustment account

branch debtors account

branch creditors account

branch cash account

7- Branches not keeping full system of accounting are........... *

1 point

Independent branch

dependent branch

local branch

foreign branch

8- Which of the following is to be recorded in an income and expenditure account? *

1 point

purchase of a fixed asset

Capital expenditure incurred on a fixed asset

profit on the sale of a fixed asset

sale of a fixed asset

9- Under branch accounts debtors system, the depreciation of an asset is................. *

1 point

show in debtors account

shown in debit side of branch account

not shown in branch account

shown in credit side of branch account

10- Under branch accounts debtors system, opening balance of assets are recorded in.................of Branch A/c. *

1 point

credit side

debit side

first credit and debit side

first debit and credit side

11- Under stock and debtors system the branch account is what type of account? *

1 point

Real account

Nominal account

Personal account

None of these

12- Under stock and debtors system, the cash sales are........... *

1 point

debited to the branch account

credited to the branch account

debited to debtors account

credited to creditors account

13- In branch account, goods sent by branch X to branch Y, Will be debited to................... *

1 point

branch k

branch x

branch z

branch y

14- In which side goods sent to branch applicable by Branch account *

1 point

debit

credit

both the sides

none of the above

15- Under stock and debtors system of branch account, the account prepared to record all the transaction relating to branch debtors is recorded in................ *

1 point

branch expenses account

branch adjustment account

branch debtors account

branch creditors account

16- Under stock and debtors system of branch account, branch adjustment account is opened when goods sent to branch is at........................ *

1 point

cost price

invoice price

market price

normal price

17- The difference between goods sent by head office and received by the branch is known as .......................... *

1 point

goods in transit.

goods in go down

goods in production

goods in warehouse

18- Under branch accounts debtors system, credit sales is........... *

1 point

shown in debit side

shown in credit side

shown in asset side

not shown

19- Under branch accounts debtors system, bad debts, discount allowed to debtors is...................of Branch account *

1 point

shown in debit side

shown in credit side

shown in asset side

not shown

20- Under branch accounts debtors system, goods sent to branch account is recorded in................of Branch account *

1 point

debit side

credit side

asset side

liabilities side

21- Under branch accounts debtors system, closing balance of liabilities are recorded in...............of Branch account *

1 point

first credit and debit side

first debit and credit side

credit side

debit side

22- Under branch accounts debtors system, opening balance of liabilities are recorded in........................... *

1 point

first credit and debit side

first debit and credit side

credit side

debit side

23- Under branch accounts debtors system, closing balance of assets are recorded in ............of Branch account *

1 point

first credit and debit side

first debit and credit side

credit side

debit side

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