(A) UK
(B) Canada
(C) Germany
(D) All the three
Tag: Accounting Mcqs
Professional bodies of which of the following countries is not a founding member of IASC __.
(A) Australia
(B) India
(C) Japan
(D) USA
Profit or loss on joint venture business is shared by the co-venturers __.
(A) Equally
(B) In the ratio of capital contributed
(C) In the agreed upon ratio
(D) A per seniority
Which of these accounts are not opened in a joint venture?
(A) Stock reserve
(B) Joint bank A/c
(C) Joint venture A/c
(D) Co-venturers personal A/c
Which of these is not a feature of a Joint venture?
(A) Continuing business
(B) No firm name
(C) Partners called co-venturer
(D) Partnership for limited purpose
Joint Venture with__(another co-venturer) A/c is a.
(A) Personal A/c
(B) Nominal A/c
(C) Real A/c
(D) Memorandum A/c
Joint Venture is a __.
(A) Personal A/c
(B) Nominal A/c
(C) Real A/c
(D) Memorandum A/c
Joint Bank A/c is a __.
(A) Nominal A/c
(B) Personal A/c
(C) Real A/c
(D) Dummy A/c