Name the systems of maintaining the accounts of a dependent branch and describe how profit is ascertained under each system.
In financial accounting, the accounts of a dependent branch can be maintained using two primary systems: the Debtors System and the Stock and Debtors System.
1. Debtors System: In this system, the branch operates as a separate entity regarding its sales and collections, but all expenses and inventory are recorded in the head office's books. The branch maintains a record of sales made on credit and the corresponding debtors. At the end of the accounting period, the head office calculates the ____ _________ ___ __________ ___ ________ __________ ____ _____ _____.
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