Accounting · Joint Venture Accounts
When a separate set of books is maintained for a Joint Venture, any expenses paid directly by a co-venturer out of their private funds will be credited to which account?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1Profit and Loss Account
- 2Joint Venture Account
- 3Co-venturer's Capital Account✓
- 4Joint Bank Account
Correct answer
Co-venturer's Capital Account
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