JAMB Accounting 2010 Objective — Question 37

Question 37 of 50 from the Joint Admissions and Matriculation Board (JAMB) Accounting 2010 Objective paper, with the correct answer and a full explanation.

The branch expenses paid by the head office are recorded in the books by debiting branch

A. bad debt account and crediting branch debtors account
B. expenses account and crediting bank accountCorrect
C. profit and loss account and crediting branch stock account
D. discount allowed account and crediting branch debtors' account

Explanation

When head office pays for branch expenses, the recording is: Dr Expenses A/c; Cr Bank A/c.

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