The head office of Emeka Stores maintains the financial accounts of all its branches. The branch store account in the head office serves as the branch?

The head office of Emeka Stores maintains the financial accounts of all its branches. The branch store account in the head office serves as the branch?

Answer Details

The branch store account in the head office of Emeka Stores serves as the branch's "cash account". This means that all financial transactions such as sales, purchases, expenses, and receipts made by the branch are recorded in the branch store account by the head office. The branch store account is a record of all financial activities of the branch, including its cash position, and is used to monitor the financial performance of the branch.