Memoradum branch account is prepared to determine
FINANCIAL
WAEC 2023
Memoradum branch account is prepared to determine
- A. gross profit
- B. credit sales
- C. closing stock
- D. opening stock
Correct Answer: A. gross profit
Explanation
Memorandum branch account or double column method is prepared to determine the gross profit. They are purely memoradum entries and do not form part of the double entries.
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