_____ A control feature in a decentralized accounting system is
A) The balance in the Investment in Branch account must equal the balance in the Home Office Capital account.
B) The balance in the Investment in Branch account must equal the balance in the Home Office Capital account less the branch's cumulative unremitted profits.
C) The intracompany accounts are eliminated in preparing combined financial statements.
D) The balance in the Investment in Branch account must equal the balance in the Branch Income account.
E) None of the above.
Correct Answer:
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Q77: Income taxes can be allocated to a
Q78: Branch fixed assets can be carried on
Q79: If branch fixed assets are recorded on
Q80: _ Which of the following accounts is
Q81: _ In preparing combined financial statements, which
Q83: _ Which of the following would explain
Q84: _ A home office, month-end allocation of
Q85: _ A home office, month-end allocation of
Q86: _ For 2004 a branch reported $18,000
Q87: _ For 2004 a branch reported $18,000
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