A. Debited to the branch current account
B. Debited to the head office current account
C. Credited to the head office current account
D. Credited to the branch current account
Correct Answer:
Option B – Debited to the head office current account
Explanation
Branch’s current account is maintained in the head office books to record all transactions between the head office and the branch. This account is debited with the following:
i. Goods sent to branch
ii. Expenses of the branch paid by the head office
iii. Profit of the branch
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