NABTEB Accounting 2023 Objective — Question 28

Question 28 of 50 from the National Business and Technical Examinations Board (NABTEB) Accounting 2023 Objective paper, with the correct answer and a full explanation.

Memorandum branch account is prepared to determine (a) credit sales (b) gross profit (c) closing stock (d) opening stock

A. credit sales
B. gross profitCorrect
C. closing stock
D. opening stock

Explanation

The memorandum branch account is prepared by the head office to determine the profit (or loss) made by a branch.

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