GENERAL ACCOUNTING PRINCIPLES (GENERAL STUDIES) Part-2

Discussion Forum: GENERAL ACCOUNTING PRINCIPLES (GENERAL STUDIES) Part-2 - Q.No: 25

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25. When co-ventures initially contribute for a joint venture which account should be debited in case when separate set of books are maintained: []

  1. (a) Purchases A/c
  2. (b) Joint ventures A/c
  3. (c) Ventures Capital A/c
  4. (d) Joint bank A/c

Correct Answer: (d) Joint bank A/c

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