Virtual University Forum

on December 28, 2013 at 12:27am 1. What is the difference between Branch And Department Account. ANS: There is a vast difference between both of them. Both have literally the same meaning,may be you can call any as a "seperate division",but a branch can have a different geographical location but a department always exist within the organization and its location is internal to the organization.  2. Write the presentation of Contra items of financial statement In financial accounting, a contra asset account always relates to an asset account. Two of the most common examples of...

FIN611: Advanced Financial Accounting Dated: 26.12.2013 Total Marks: 41 MCQs: 22 Marks 3 marks Question: 9 marks 5 marks Questions: 10 Marks 3 Marks Questions: 1.       What is the difference between the Debenture and share? 2.       Pass journal entries in the books of ABC Company's head office who maintains its branch books under stock and debtor system , if the goods are: 1.       sent to the branch at invoice amounting to Rs. 5,000; 2.     returned by the branch to head office amounting to Rs. 2,000. 3. Particulars Rs. Subscription received during the year 2005      4,500 Subscription outstanding at the beginning of the year 2005                1,400 Subscription outstanding at the end of the year 2005           ...