Question

Which of the following statements is true? 

(A) When separate set of books is maintained, expenses paid by venturer will be credited to Joint Bank A/c. 

(B) When separate set of books is maintained, expenses paid by venturer will be credited to Venturer’s Capital A/c. 

(C) When separate set of books is maintained, expenses paid by venturer will be credited to Joint Venture A/c. 

(D) More than one of the above 

(E) None of the above

Answer 1

Correct option is (B) When separate set of books is maintained, expenses paid by venturer will be credited to Venturer’s Capital A/c.