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WAEC Financial Accounting 2026 Question 45

Question 45

Branch Accounts

One of the accounts prepared for a branch includes

  1. A.profit and loss account
  2. B.capital account
  3. C.subscription account
  4. D.receipts and payments account
Show the answer and explanation

Answer: A (profit and loss account)

Explanation

A branch prepares its own profit and loss account (and trading account) to show how it performed.