Advance Accounting MCQs
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Q 41. The method of Branch Accounting varies with the nature and the status of branch.
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Q 42. Actual petty expenses paid by branch from petty cash are to br shown separately in Branch Account.
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Q 43. The independent branches are autonomous as they are allowed to make their own purchases from open markers and pay for their expenses.
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Q 44. The branches which are totally dependent on head office are also termed as Agency Branches.
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Q 45. To fulfill the audit requirements under section of the company act 1956
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Q 46. Foreign Branch almost invariably trade independently and records their transaction in
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Q 47. All items of stock in Trading and Profit and loss Account are to be converted into cost price if these are given at an _
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Q 48. A……………..system of departmental account is more convenient where the number of department are very small
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Q 49. A ………………is generally a physical part of the business established under the same roof.
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