Home › CA Inter › accounting › Branch Classification › From an accounting perspective, branches are typ…
From an accounting perspective, branches are typically classified as:
AUrban branches and Rural branches
BOwned branches and Leased branches
CDependent branches and Independent branches
DProfit branches and Loss branches
Answer & Solution
Correct answer: C. Dependent branches and Independent branches
1. Step 1: Per Ch 15 learning outcomes, branches are classified as dependent or independent for accounting purposes.
2. Step 2: Dependent branches don't maintain separate books; independent ones do.
3. Step 3: Hence (A).
_Source: ICAI BoS CA Inter Paper 1, Ch 15 "Accounting for Branches including Foreign Branches"_