Exam 5: Accounting and Financial Terms and Concepts

Loading on surplus in stock is………….to Branch Adjustment Account.

…………….collected by central government on an Intra state sale.

The closing balance of book debts account is ascertained by preparing branch ………………Account.

……….and will share revenue equally between the central and State.

The primary objective in the formation of Co-operative credit Society is ………

……………is the motive given to the parliament and legislation of every state

Under Stock and Debtors System general income is credited to ………..account

In Branch Accounting the balance on stock reserved Account at the end of the period is shown in the balance sheet by the way of deduction from

………….Collected by the State Government on an Intra state sale.

…………..is the source of Government to increase their revenue.

on…………………..the GST law came into the force.

The………………Fund cannot be utilized for payment of dividend as bonus.

………….Collected by the Central Maharashtra for Inter state sale.

The normal and abnormal stock of goods doesn't appear in branch account as the closing stock is at the…………….figure.

A co-operative Society may createout of its net profit for payment of bonus to person who are not its members.

…………….are not formed for earning profit.

…………….fund is for the purpose of construction of building for the business of the Society.

Reserve for doubtful debts is stands for …………

Stock and Debtors method of branch accounting is generally used where branch turnover is substantially

The online version of collecting tax was introduced in the year…………