Question

What do you understand by branch accounting? What are its

purposes? (5mark)​

Answer 1

Branch accounting is a bookkeeping system in which separate accounts are maintained for each branch or operating location of an organization. ... However, branch accounting usually refers to branches keeping their own books and later sending them into the head office to be combined with those of other units.

Answer 2

Explanation:

Branch accounting is a bookkeeping system in which separate accounts are kept for each branch or operating location of an organization. ... Branch accounting provides better accountability and control since profitability and efficiency can be closely tracked for each location.

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