9. The account prepared in the same way asthat when goods are invoice at cost, exceptthat all entries are made at invoice price istermed as(a) Branch adjustment account(b) Branch stock account(c) Goods sent to branch account(d) Branch debtor account

Name: 9. The account prepared in the same way asthat when goods are invoice
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Description: 9. The account prepared in the same way asthat when goods are invoice at cost, exceptthat all entries are made at invoice price istermed as(a) Branch adjustment account(b) Branch stock account(c) Goods sent to branch account(d) Branch debtor account

Branch accounting involves managing and reporting the financial activities of separate operating…

Answered: 9. The account prepared in the same way…

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Accounting

9. The account prepared in the same way as that when goods are invoice at cost, except that all entries are made at invoice price is termed as

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Concept explainers

Inventory Valuation

Before discussing the topic inventory valuation let’s discuss the meaning of inventory. In accounting, inventory is also known as stock. Inventory means all the finished goods, materials, merchandise that a business holds for the purpose of selling it in the market with the motive of earning profit.

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Question

9. The account prepared in the same way as
that when goods are invoice at cost, except
that all entries are made at invoice price is
termed as
(a) Branch adjustment account
(b) Branch stock account
(c) Goods sent to branch account
(d) Branch debtor account

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