The branch current account records
Take Free Practice Test On 2026 JAMB UTME, Post UTME, WAEC SSCE, GCE, NECO SSCE
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
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