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The following account are prepared when goods are sent to branch except

Accounts - Principles of Accounts
JAMB 2015

The following account are prepared when goods are sent to branch except

  • A. Branch stock
  • B. Goods set to branch account
  • C. Branch adjustment account
  • D. Branch debtors account
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Correct Answer: Option D
Explanation

Branch debtors account is used to exercise control over branch debtors. It is maintained when the branch is allowed to sell goods on credit. This account records transactions with the branch debtors and is prepared like sundry debtors account.

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Post-UTME Past Questions - Original materials are available here - Download PDF for your school of choice + 1 year SMS alerts
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Post-UTME Past Questions - Original materials are available here - Download PDF for your school of choice + 1 year SMS alerts
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