JAMB Accounting 2014 Objective — Question 41

Question 41 of 50 from the Joint Admissions and Matriculation Board (JAMB) Accounting 2014 Objective paper, with the correct answer and a full explanation.

The profit of a branch is usually credited to the

A. adjustment account
B. head office sales account
C. branch office goods account
D. head office current accountCorrect

Explanation

The profit of the branch is treated as Dr Head office current a/c, Cr Branch adjustment account.

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