Which of the following statement is correct about the head office current account and the…

Accounts - Principles of Accounts JAMB 1995

Which of the following statement is correct about the head office current account and the branch current account?

  • Both always have debit balances
  • both always have credit balances
  • the head office current account has a credit balance while the branch current account has a debit balance
  • the head office current account has a debit balance while the branch current account has a credit balance checkmark

The correct answer is: D

Explanation

No official explanation is available for this question at this time. Please check contributions posted by others below. If you can provide an explanation to help other student learn.
Previous Question Next Question

Leave A Comment