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JAMB Principles of Accounts 2009 Question 36

Question 36

Branch Accounts

One of the purposes of maintaining the account of a branch at the head office is to

  1. A.record charges in shareholdings
  2. B.record charges in liabilities
  3. C.check the excesses of customers
  4. D.check the excesses of members of staff.
Show the answer and explanation

Answer: D (check the excesses of members of staff.)

Explanation

Branch accounts kept at head office help control the branch and detect fraud or waste by its staff.