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Reconciliation of branch and head office books - Jamb Accounts - Principles of Accounts Past Questions and Answers

Jamb Accounts - Principles of Accounts Past Questions

Jamb Past Questions and Answers on Reconciliation of branch and head office books

Question 6:

JAMB 2018

In reconciling the branch and head office accounts, remittance in transit in the branch books is treated as a_____________

A. Debit entry
B. Contra entry
C. Credit entry
D. Reversal entry

View Answer & Explanation

Question 7:

JAMB 2018

Which of the following is a common cause of a discrepancy between head office and branch trial office________

A. Stock and repayment
B. Creditors and cash in transit
C. Stock and cash in transit
D. Debtors and cash in transit

View Answer & Explanation

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