Accounting · Joint Venture Accounts
When separate books are maintained for recording Joint Venture transactions, which of the following accounts is opened in the individual ledger books of each co-venturer?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1Joint Venture Investment Account
- 2Personal Account of each Co-venturer✓
- 3Joint Venture Account
- 4Joint Bank Account
Correct answer
Personal Account of each Co-venturer
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