define branch account
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Branch account is a book keeping system in which separate accounts are maintained in different branches
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• Branch accounting is a bookkeeping system in which separate accounts are maintained for each branch or operating location of an organization.
• Technically, the branch account is a temporary or nominal ledger account, lasting for a designated accounting period.
• The primary objectives of branch accounting are better accountability and control since profitability and efficiency can be closely tracked for individual locations.
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