Exam 6: Branch Accounting and Single Entry System

……………system of book keeping is the only scientific method to record farming transaction.

To fulfill the audit requirements under section of the company act 1956

Actual petty expenses paid by branch from petty cash are to br shown separately in Branch Account.

The independent branches are autonomous as they are allowed to make their own purchases from open markers and pay for their expenses.

In…………………entry system no records are kept for real or nominal Account.

The branches which are totally dependent on head office are also termed as Agency Branches.

All items of stock in Trading and Profit and loss Account are to be converted into cost price if these are given at an _

Under statement of affairs method which is also termed as .

Single entry constitutes incomplete records rather than single entry

A……………..system of departmental account is more convenient where the number of department are very small

If the closing capital is more than the opening capital it's shows an increase in capital which means a ……………

In single entry system it's difficult to exercise control over .

A ………………is generally a physical part of the business established under the same roof.

The removal of loading from the items of branch stock is adjusted through branch……………..Account

In single entry system it's difficult to detect

The method of Branch Accounting varies with the nature and the status of branch.

Under the………………… entry system personal accounts, cashbook and other subsidiary books are kept separately.

Under…………… entry system, Personal Accounts and Cash Book are kept separately.

Accounting is mainly concerned with the future management planning.

Most of the farming transactions are transacted on ……………..basis.