Goods stolen at the branch is debited to
-
Defalcations account
- Branch stock account
- Branch adjustment account
- Branch debtors account
The correct answer is: A
Explanation
Defalcation predominantly refers to the theft, misuse or misappropriation of money or funds held by an official trustee, or other senior-level fiduciary. In this regard a defalcation account will be opened to record the stolen goods.