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WAEC Financial Accounting 2023 Question 28

Question 28

Branch Accounts

Memorandum branch account is prepared to determine

  1. A.credit sales.
  2. B.gross profit.
  3. C.closing stock.
  4. D.opening stock.
Show the answer and explanation

Answer: B (gross profit.)

Explanation

The memorandum branch trading account shows the branch's gross profit.