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  5. To account for expen...

To account for expenses paid by head office on behalf of the branch, the branch...

Accounts - Principles of Accounts
JAMB 2001
To account for expenses paid by head office on behalf of the branch, the branch should?
  • A. debit head office account and credit cash
  • B. debit profit and loss account and credit headoffice account
  • C. credit cash and debit profitand loss account
  • D. credit profit and loss account and debit head office account
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Correct Answer: Option B
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Post-UTME Past Questions - Original materials are available here - Download PDF for your school of choice + 1 year SMS alerts
WAEC and NECO CBT App for Mobile Devices - Candidates, Schools, Centres, Resellers - 100% Offline -Download Now
WAEC and NECO CBT Software for Computers and Laptops - Candidates, Schools, Centres, Resellers - 100% Offline -Download Now
Your School's Whatsapp Group - Join Us now
Post UTME Past Questions Agent
WAEC and NECO CBT App for Mobile Devices - Candidates, Schools, Centres, Resellers - 100% Offline -Download Now
Your School's Whatsapp Group - Join Us now
Post UTME Past Questions Agent
WAEC and NECO CBT Software for Computers and Laptops - Candidates, Schools, Centres, Resellers - 100% Offline -Download Now