Which of this is not a feature of a
Joint Venture?
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Answer:
When Separate Books of Accounts are not kept for the Joint Venture. Separate Joint venture account and personal accounts of other co-venturers are opened under this method of accounting. Joint venture account is debited and bank account or creditor account is credited on the account of goods purchased or expensed.
Explanation:
When Separate Books of Accounts are not kept for the Joint Venture. Separate Joint venture account and personal accounts of other co-venturers are opened under this method of accounting. Joint venture account is debited and bank account or creditor account is credited on the account of goods purchased or expensed.
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