Question on: JAMB Accounting - 2023
The following are importance of branch account except
A
it allows fraud and wastage of resources
B
it assist the organization to determine the performance of a branch manager
C
it enable the organization to determine the branch that is making either profit or loss
D
it allows proper control over the branch by the head office
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Correct Option: A
The importance of branch accounts includes options B, C, and D. It assists the organization in determining the performance of a branch manager (B), enables the organization to determine the branch that is making either a profit or loss (C), and allows proper control over the branch by the head office (D). Option A, 'it allows fraud and wastage of resources,' is not an importance of branch accounts but rather a potential issue if proper control is not maintained.
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