CMA Foundation Dec 2026 | Paper 2 FFCA — Joint Venture ALL MCQs Solved

CMA Foundation December 2026 students — this video covers ALL MCQs on Joint Venture from Paper 2 (FFCA), solved one by one with clear reasoning for each option. 📌 What's covered in this video: ✅ Joint Venture Account — journal entries for purchases, goods received, and takeovers ✅ Profit/Loss on Joint Venture — how it's distributed to co-venturers ✅ Joint Bank Account — capital contribution in profit-sharing ratio ✅ Discount received treated as income in joint venture ✅ Accounts maintained vs not maintained (Stock Reserve, Joint Bank, Co-venturer) ✅ Memorandum Joint Venture Account — nature and treatment ✅ Features of joint venture business (profit sharing vs capital ratio) ✅ Nature of Joint Venture with Co-venturer Account (personal account) ✅ Commission on purchases and sales — profit calculation ✅ Free downloadable PDF with all solved MCQs 🎯 Joint Venture is a short but scoring chapter in CMA Foundation FFCA once you're clear on the Joint Venture Account entries — this video covers every question pattern the institute repeats. 📥 FREE PDF DOWNLOAD: Link available in the description box below and pinned as the first comment. 💬 Got doubts on any question? Drop them in the comments — I'll help you out. ⏱️ TIMESTAMPS: 0:01 Intro — Joint Venture MCQs 0:07 Goods Purchased for Joint Venture — Debit Entry 0:21 Joint Venture Account — Nominal Account 0:33 Profit Calculation with Goods Taken Over 1:51 Loss on Joint Venture — Co-venturer Debited 2:39 Goods Received from Co-venturer — Debit Entry 3:02 Joint Bank Account — Capital Contribution Ratio 3:54 Discount Received Treated as Income 4:21 Accounts Not Opened in Joint Venture (Stock Reserve) 4:36 Memorandum Joint Venture Account — Nominal Account 4:47 Not a Feature of Joint Venture (Capital Ratio) 5:17 Nature of Joint Venture with Co-venturer Account 5:26 Goods Taken Over by Venturer — Credit Value 6:05 Accounts Maintained with Separate Set of Books 6:28 Commission on Purchases and Sales — Profit Calculation 👉 Subscribe for more CMA Foundation Paper 2 FFCA chapter-wise MCQ solving, free study material, and exam strategy. --- 🔗 Useful Links: Free PDF (Joint Venture MCQs Solved): [link in description/pinned comment] Full ICMAI Question Bank Playlist: Must Do Kit For December 2026: ❓ FREQUENTLY ASKED QUESTIONS Q1. What is the journal entry when goods are purchased for a joint venture? A. The entry is Joint Venture Account Debit, To Joint Bank Account (or to the co-venturer, if no joint bank is maintained). Q2. What is the nature of the Joint Venture Account? A. The Joint Venture Account is a nominal account, since it records expenses and incomes to determine the profit or loss of the venture. Q3. How is a loss on a joint venture treated? A. A loss on joint venture is debited to the respective co-venturer's accounts in their agreed profit-sharing ratio. Q4. What is the nature of the "Joint Venture with Co-venturer" account? A. The Joint Venture with Co-venturer account is a personal account, since it represents the amount due to or from the co-venturer. Q5. Which accounts are maintained when a separate set of books is kept for a joint venture? A. Three accounts are maintained: the Joint Bank Account, the Joint Venture Account, and the Co-venturer's (Capital) Account. Q6. Which account is NOT opened in a joint venture? A. A Stock Reserve account is not opened in a joint venture — it is used in consignment and branch accounting, not joint venture accounting. Q7. Is profit or loss on a joint venture shared in the capital contribution ratio? A. No — profit or loss on a joint venture is shared in the agreed profit-sharing ratio, not necessarily the capital contribution ratio. These can be different unless stated otherwise. Q8. How is a discount received on payment to a supplier treated in a joint venture with a separate set of books? A. The discount received is treated as income and is credited to the Joint Venture Account. Q9. At what value is goods taken over by a co-venturer recorded? A. Goods taken over by a co-venturer are recorded at the value at which they were actually taken over (not necessarily the original cost) — the Joint Venture Account is credited with that value. 📚 Join Our CA/ CMA Foundation & Intermediate Classes 👉 Modes: Face-to-Face (Kolkata), Live Online, Google Drive, and Pendrive 📞 𝐖𝐡𝐚𝐭𝐬𝐀𝐩𝐩: / 🌐 𝐕𝐢𝐬𝐢𝐭: ‎🌐 𝐖𝐡𝐚𝐭𝐬𝐀𝐩𝐩 𝐂𝐡𝐚𝐧𝐧𝐞𝐥: 🌐 𝐓𝐞𝐥𝐞𝐠𝐫𝐚𝐦: 🌐 𝐈𝐧𝐬𝐭𝐚𝐠𝐫𝐚𝐦: #CMAFoundation #FFCA #JointVenture #CMAFoundationDecember2026