::: vuaskari.com ::: Answer required with logic

 
Answer with logic is required
 
 
 
Which of the following is not the feature of branch expense account, under the stock and debtor system?
(A)It is debited with the cash sent to branch
(B)It is debited with the discount allowed to branch creditors
(C) It is debited with the depreciation of branch fixed assets 
(D) It is debited with the branch had debt during the year
 
While preparing the profit and loss account, advertisement expenses are allocated and appointed to the different departments on the basis of:
(a)   Sales by each department
(b)   Number of employees
(c)    Purchase of goods by each department 
(d)   Area /floor space occupied
 
 
While preparing profit and loss account, depreciation of building is allocated and appointed the different departments on the basis of:
(a)Number of employees by each department
(b)Area occupied by department 
(c)Number of departments
(d) Sale by each department
 
 
Which of the following is/are the feature of branch stock account, under the stock and debtor system?
(a)    It controls branch stock
(b)   It is maintained at invoice price 
(c)    The balance of this account shows the actual stock with the branch
(d)   All of the given options
 
 
 
Which of the following is NOT TRUE about the journal entry of the Cash-in-transit?
(a)    It is recorded when cash is on the way
(b)   It is recorded by both Head office and the Branch 
(c)    It is recorded by either of the parties
(d)   All of the given options                                                                                                                                                                                                                                                                      
Which of the following items should NOT be entered in Receipt and Payment Account of a club?
(a)    Sale of old newspapers
(b)   Loss on sale of furniture
(c)    Subscription received in advance
(d)   Expense paid for the previous year
 
Which of the following is not appeared in the books of the head office, under stock and debtor system?
(a)    Branch sales account
(b)   Branch debtor account
(c)    Branch stock account
(d)   Branch cash account
 
Under single entry system, if the capital at the end of the year is less than the capital at the beginning of the year, the difference will represent 
(a)    Net Profit
(b)    Net loss
(c)    Gross loss
(d)   Gross profit
 
If incoming partner brings the goodwill in cash and it is paid by the old partners privately in the ratio of the sacrifice? What accounting entry would be passed in the books of firm?
(a)    Bank a/c debit and Goodwill a/c credit
(b)   Goodwill a/c debit and old partner's capital a/c credit
(c)    Goodwill a/c debit and cash a/c credit
(d)   No entry