Q.2 : Following are the characteristics of joint venture except: A) No common firm name B) Contribution of funds C) Sharing of Profits/losses D) None of these

Q.3 : When unsold stock is taken away by a co-venturer, then ______account is debited: A) Joint Stock B) Joint Venture C) Joint Bank Account D) Co-venturers capital account

Q.4 : When co-ventures initially contribute for a joint venture which account should be debited in case when separate set of books are maintained: A) Purchases A/c B) Joint ventures A/c C) Ventures Capital A/c D) Joint bank A/c