Top 50+ Solved Branch Account MCQ Questions Answer
Q. ………….method of branch accounting is usually adopted when the branch is ofthe small size.
a. Treading.
b. Balance sheet
c. memorandum
d. debtors
Q. The normal and abnormal stock of goods doesn’t appear in branch account asthe closing stock is at the…………….figure.
a. Adjusted
b. profit.
c. balance.
d. loss
Q. Stock and Debtors method of branch accounting is generally used wherebranch turnover is substantially
a. loss
b. lower
c. High.
d. Profit
Q. Loading on surplus in stock is………….to Branch Adjustment Account.
a. debit.
b. credit.
c. liability.
d. treading
Q. Under Stock and Debtors System general income is credited to ………..account
a. balance sheet
b. branch stock account
c. stock and Debtor System
d. branch profit and loss
Q. In Branch Accounting the balance on stock reserved Account at the end of theperiod is shown in the balance sheet by the way of deduction from
a. opening stock.
b. reserved stock.
c. closing stock.
d. profit or loss
Q. Goods sent by the head office at the end of the year but not received by Branchbefore the year ended is known as
a. goods in transit
b. loss by fire
c. shortage.
d. loss
Q. The closing balance of book debts account is ascertained by preparing branch………………Account.
a. stock
b. trading.
c. Debtors
d. adjustment
Q. The removal of loading from the items of branch stock is adjusted throughbranch……………..Account
a. adjustment
b. debtor.
c. Stock
d. profit and loss
Q. A ………………is generally a physical part of the business established under thesame roof.
a. Surplus.
b. Depreciation
c. Department
d. Surplus
Q. A……………..system of departmental account is more convenient where thenumber of department are very small
a. Mutual.
b. Branch.
c. Debtor’s.
d. Profit and loss
Q. All items of stock in Trading and Profit and loss Account are to be convertedinto cost price if these are given at an _
a. Profit ratio.
b. market price
c. Balance.
d. Invoice price
Q. Foreign Branch almost invariably trade independently and records theirtransaction in
a. cost price
b. Market value
c. Foreign currency
d. invoice price
Q. To fulfill the audit requirements under section of the company act 1956
a. (B) 156
b. 228
c. (a) i 30.
d. 200
Q. The branches which are totally dependent on head office are also termed asAgency Branches.
a. True
b. False
c. may be false
d. may be a