Multiple choice

Directions: Choose the correct option for the given question.

Which account will be debited, when materials are purchased under joint venture?

  1. Joint bank account

  2. Joint venture account

  3. Co-ventures account

  4. None of these
Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

When materials are purchased for a joint venture, the Joint Venture Account is debited because it represents the venture itself as a separate business entity. All expenses and purchases related to the joint venture are recorded in this account to track the total investment and costs of the joint business operation.

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