explain the role of head office in branch accounts?
Answers
Explanation:
The result of the operation, i.e., profit or loss, is ascertained by Head Office. In other words Head Office maintains and opens a Branch Account in its book in order to find out the result of the operation. Branches supply some related information to the Head Office, i.e., position of cash, debtors stocks, etc
Answer:
The result of the operation, i.e., profit or loss, is ascertained by Head Office.
Explanation:
In other words, Head Office maintains and opens a Branch Account in its book in order to find out the result of the operation. Branches supply some related information to the Head Office, i.e., the position of cash, debtors stocks, etc.
Branch accounting is an accounting system in which separate accounts are maintained for each branch or location of an organization. Technically, a branch account is a
temporary or nominal general ledger account that exists in a given accounting period.
The primary purpose of store accounting is to determine store income, store expenses, store assets, and store liabilities. Branch accounts help H.O. Determine if a particular industry should be profitable and continue.
To know more about this concept, you can go through following links:
https://brainly.in/question/49399747
https://brainly.in/question/49131199
#SPJ3