JAMB Accounting 2014 Objective — Question 13

Question 13 of 50 from the Joint Admissions and Matriculation Board (JAMB) Accounting 2014 Objective paper, with the correct answer and a full explanation.

A major way by which the headquarters guard against fraud in branches on cash remittance is through the introduction of

A. an imprest system only
B. direct purchase by branch
C. separate accountant for the branch
D. credit sales by only the headquartersCorrect

Explanation

If the head office allows credit sales, the money will be paid directly into the company's account, this will reduce fraud on cash remittance.

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