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The branch current account records

The branch current account records
Take Free Practice Test On 2026 JAMB UTME, Post UTME, WAEC SSCE, GCE, NECO SSCE
  • A Head office transactions with the branch
  • B Branch transactions with the head office
  • C Goods sent to branch at selling price
  • D Cash received from branch as sales
Correct Answer: Option A
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

This account is credited with the following

Cash received from the branch
Goods returned by the branch

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