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DIFFERENCE BETWEEN JOINT VENTURE AND CONSIGNMENT The Difference between Joint Venture and Consignment is as follows: JOINT VENTURE Joint venture may be defined as temporary partnership between two or more persons without the use of firm’s name for a specific purpose and limited time period. In other words, two or more persons agree to undertake…
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The Difference between Normal and Abnormal loss is as follows: NORMAL LOSS Normal loss is the loss that occurs due to the nature of the goods consigned. Its nature is as follows: It occurs due to unavoidable reasons. It is due to natural causes such as losses due to evaporation, normal leakage, spoilage, breakdown, drying…
TREATMENT OF LOSS ON CONSIGNMENT In consignment, the goods are to be sent from one place to the other. There is always a possibility of some kind of loss of stock. The consignor has to bear the loss, not the consignee. The Treatment of loss on consignment is for two types of losses: NORMAL LOSS…
ACCOUNTING TREATMENT OF CONSIGNMENT Consignment is a specialized kind of transaction which involves the two parties i.e. Consignor and Consignee. In this the consignor dispatches the goods to the consignee and consignee is required to sell those goods. For this, the consignee gets a commission. Consignment is a nature of transaction that leads to the…
The Difference between Consignment and Sale is as follows: CONSIGNMENT Consignment is a specialized kind of transaction which involves the two parties i.e. Consignor and Consignee. In this the consignor dispatches the goods to the consignee and consignee is required to sell those goods. For this, the consignee gets a commission. Consignment is a nature…
MEANING Consignment is a specialized kind of transaction which involves the two parties i.e. Consignor and Consignee. In this the consignor dispatches the goods to the consignee and consignee is required to sell those goods. For this, the consignee gets a commission. Consignment is a nature of transaction that leads to the expansion of business….
METHODS OF RECORDING TRANSACTIONS IN JOINT VENTURE The Joint venture may be defined as temporary partnership between two or more persons without the use of firm’s name for a specific purpose and limited time period. In other words, two or more persons agree to undertake a particular venture and to share the profits and losses thereof in…
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SOURCES OF REDEMPTION OF DEBENTURES Redemption of debentures means the amount of repayment to the debenture holders of the debt due to them. The debentures are usually repaid after the expiry of certain time period. When debentures are redeemed, liability on account of debentures is discharged. Amount of funds required for redemption of debentures is…
Difference Between Joint Venture and Partnership is as follows: PARTNERSHIP Partnership business is a business where two or more persons agree to carry on commercial activity to earn profits. From legal point of view, partnership firm is not a separate legal entity. In other words, it has no existence separate from its partners. It means…
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MEANING Redemption of debentures means the amount of repayment to the debenture holders of the debt due to them. The debentures are usually repaid after the expiry of certain time period. When debentures are redeemed, liability on account of debentures is discharged. Amount of funds required for redemption of debentures is quite large and therefore…
