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Which of the following statement is true:
  • a)
    In case of separate sets of books method of Joint Venture, co-venture’s contribution of goods is debited in Joint Bank A/c 
  • b)
    Co-venturer’s contribution in cash is debited in venturer’s personal account 
  • c)
    Discount on discounting of B/R is debited to Venturer’s personal account 
  • d)
    Contract money received is credited to Joint Venture account.
Correct answer is option 'D'. Can you explain this answer?
Most Upvoted Answer
Which of the following statement is true:a)In case of separate sets of...
Accounts are opened
b)In case of separate sets of books method of Joint Venture, co-venture accounts are not opened

a) In case of separate sets of books method of Joint Venture, co-venture accounts are opened.
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Which of the following statement is true:a)In case of separate sets of books method of Joint Venture, co-venture’s contribution of goods is debited in Joint Bank A/cb)Co-venturer’s contribution in cash is debited in venturer’s personal accountc)Discount on discounting of B/R is debited to Venturer’s personal accountd)Contract money received is credited to Joint Venture account.Correct answer is option 'D'. Can you explain this answer?
Question Description
Which of the following statement is true:a)In case of separate sets of books method of Joint Venture, co-venture’s contribution of goods is debited in Joint Bank A/cb)Co-venturer’s contribution in cash is debited in venturer’s personal accountc)Discount on discounting of B/R is debited to Venturer’s personal accountd)Contract money received is credited to Joint Venture account.Correct answer is option 'D'. Can you explain this answer? for CA Foundation 2024 is part of CA Foundation preparation. The Question and answers have been prepared according to the CA Foundation exam syllabus. Information about Which of the following statement is true:a)In case of separate sets of books method of Joint Venture, co-venture’s contribution of goods is debited in Joint Bank A/cb)Co-venturer’s contribution in cash is debited in venturer’s personal accountc)Discount on discounting of B/R is debited to Venturer’s personal accountd)Contract money received is credited to Joint Venture account.Correct answer is option 'D'. Can you explain this answer? covers all topics & solutions for CA Foundation 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Which of the following statement is true:a)In case of separate sets of books method of Joint Venture, co-venture’s contribution of goods is debited in Joint Bank A/cb)Co-venturer’s contribution in cash is debited in venturer’s personal accountc)Discount on discounting of B/R is debited to Venturer’s personal accountd)Contract money received is credited to Joint Venture account.Correct answer is option 'D'. Can you explain this answer?.
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