The difference between the closure of the books of a branch and those of a...

Accounts - Principles of Accounts

JAMB 1998

The difference between the closure of the books of a branch and those of a separate company is that?

A. there is retained earnings account on the branch books
B. the revenue and expenses account is closed to branch current account
C. there is no retained earnings account on the branch
D. the revenue and expenses account is not closed to the home office current account

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Correct Answer: Option A

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