Question

Q6. Branches may be classified into
2 points​

Answer 1

Answer:

dependent and independent branches

Explanation:

into 2 types

Answer 2

Answer:

1 Dependent Branches

The term dependent branch means a branch that does not maintain its own set of books. All records have to be maintained by the head office in case of a dependent branch.

Thus, The head office may keep accounts of the branch according to any of the following methods:

Debtors System.

Stock and Debtors system.

Final Accounting System.

Wholesale Branch system.

2. Independent Branch

An independent branch means a branch, which maintains its own set of books. Such a branch can either be a home branch or a foreign branch.