Accounting for Branches

Accounting for Branches

Assessment

Flashcard

Other

University

Practice Problem

Hard

Created by

Accounting Dept KPM Bandar Penawar

FREE Resource

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15 questions

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1.

FLASHCARD QUESTION

Front

Identify relationships between the head office & its branches.

Back

Understanding the connections and interactions between the main office and its subsidiary locations.

2.

FLASHCARD QUESTION

Front

Prepare the accounting treatment of specific transactions using 2 methods for branches.

Back

Learn how to handle financial transactions for branches using two distinct accounting methods.

3.

FLASHCARD QUESTION

Front

Liability of the foreign parent company

Back

The foreign parent company is liable and responsible for all the debts incurred by the branch in Malaysia.

4.

FLASHCARD QUESTION

Front

Selling Agency control

Back

HQ has direct control over the branch

5.

FLASHCARD QUESTION

Front

Autonomous Branch control

Back

HQ has no direct control over the branch

6.

FLASHCARD QUESTION

Front

Staff management in Autonomous Branch

Back

Involves large branch places under charge of manager

7.

FLASHCARD QUESTION

Front

Entity status of Autonomous Branch

Back

Treated as a separate entity

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