The branch expenses paid by the head office is recorded in the books by debiting branch?
Take Free Practice Test On 2026 JAMB UTME, Post UTME, WAEC SSCE, GCE, NECO SSCE
Correct Answer: Option B
Explanation:
Branch current account; This account is maintained in the head office books to record all transactions between head office and branch. This account is debited with the following
Goods sent to branch
Expenses of the branch paid by the head office
Profit of the branch
From the above explanation, we would debit expenses account and crediting the bank account
Branch current account; This account is maintained in the head office books to record all transactions between head office and branch. This account is debited with the following
Goods sent to branch
Expenses of the branch paid by the head office
Profit of the branch
From the above explanation, we would debit expenses account and crediting the bank account