CA Foundation Exam  >  CA Foundation Questions  >  When co-ventures initially contribute for a j... Start Learning for Free
When co-ventures initially contribute for a joint venture which account should be debited in case when separate set of books are maintained:
  • a)
    Purchases A/c 
  • b)
    Joint ventures A/c 
  • c)
    Venture’s Capital A/c 
  • d)
    Joint bank A/c 
Correct answer is option 'D'. Can you explain this answer?
Verified Answer
When co-ventures initially contribute for a joint venture which accoun...
A joint account is a type of bank account that allows more than one person to own and manage it. There is no restriction regarding who can be an owner, which can include spouses, friends and business partners, among others. Everyone named on the account has equal access to funds, regardless of who deposited the money.
View all questions of this test
Most Upvoted Answer
When co-ventures initially contribute for a joint venture which accoun...
In case when separate sets of books are maintained for a joint venture, the account that should be debited when co-ventures initially contribute for the joint venture is the "Venture" account. This account is used to record all transactions related to the joint venture, including the initial contributions made by the co-ventures.
Explore Courses for CA Foundation exam
When co-ventures initially contribute for a joint venture which account should be debited in case when separate set of books are maintained:a)Purchases A/cb)Joint ventures A/cc)Venture’s Capital A/cd)Joint bank A/cCorrect answer is option 'D'. Can you explain this answer?
Question Description
When co-ventures initially contribute for a joint venture which account should be debited in case when separate set of books are maintained:a)Purchases A/cb)Joint ventures A/cc)Venture’s Capital A/cd)Joint bank A/cCorrect 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 When co-ventures initially contribute for a joint venture which account should be debited in case when separate set of books are maintained:a)Purchases A/cb)Joint ventures A/cc)Venture’s Capital A/cd)Joint bank A/cCorrect 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 When co-ventures initially contribute for a joint venture which account should be debited in case when separate set of books are maintained:a)Purchases A/cb)Joint ventures A/cc)Venture’s Capital A/cd)Joint bank A/cCorrect answer is option 'D'. Can you explain this answer?.
Solutions for When co-ventures initially contribute for a joint venture which account should be debited in case when separate set of books are maintained:a)Purchases A/cb)Joint ventures A/cc)Venture’s Capital A/cd)Joint bank A/cCorrect answer is option 'D'. Can you explain this answer? in English & in Hindi are available as part of our courses for CA Foundation. Download more important topics, notes, lectures and mock test series for CA Foundation Exam by signing up for free.
Here you can find the meaning of When co-ventures initially contribute for a joint venture which account should be debited in case when separate set of books are maintained:a)Purchases A/cb)Joint ventures A/cc)Venture’s Capital A/cd)Joint bank A/cCorrect answer is option 'D'. Can you explain this answer? defined & explained in the simplest way possible. Besides giving the explanation of When co-ventures initially contribute for a joint venture which account should be debited in case when separate set of books are maintained:a)Purchases A/cb)Joint ventures A/cc)Venture’s Capital A/cd)Joint bank A/cCorrect answer is option 'D'. Can you explain this answer?, a detailed solution for When co-ventures initially contribute for a joint venture which account should be debited in case when separate set of books are maintained:a)Purchases A/cb)Joint ventures A/cc)Venture’s Capital A/cd)Joint bank A/cCorrect answer is option 'D'. Can you explain this answer? has been provided alongside types of When co-ventures initially contribute for a joint venture which account should be debited in case when separate set of books are maintained:a)Purchases A/cb)Joint ventures A/cc)Venture’s Capital A/cd)Joint bank A/cCorrect answer is option 'D'. Can you explain this answer? theory, EduRev gives you an ample number of questions to practice When co-ventures initially contribute for a joint venture which account should be debited in case when separate set of books are maintained:a)Purchases A/cb)Joint ventures A/cc)Venture’s Capital A/cd)Joint bank A/cCorrect answer is option 'D'. Can you explain this answer? tests, examples and also practice CA Foundation tests.
Explore Courses for CA Foundation exam

Top Courses for CA Foundation

Explore Courses
Signup for Free!
Signup to see your scores go up within 7 days! Learn & Practice with 1000+ FREE Notes, Videos & Tests.
10M+ students study on EduRev