Multiple choice

Goods which are purchased for the joint venture out of joint bank a/c, the amount is debited to

  1. joint bank account

  2. joint venture account

  3. purchase account

  4. co venturer's account
Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

 Accounting entry for expenses incurred out of Joint Bank a/c

Joint Venture A/c      Dr      To Joint Bank a/c

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