Cash stolen from branch-taking s is recorded in the Head Office books by debiting

Cash stolen from branch-taking s is recorded in the Head Office books by debiting
  • A.
    defalcations account and crediting branch stock acccount
  • B.
    mark-up account and crediting branch stock account
  • C.
    defalcations account and crediting profit and loss account
  • D.
    cash account and crediting branch stock account
  • E.
    branch stock account and crediting defalcations account
Correct Answer: Option A
Explanation
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