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    Business
  3. Study Set
    Modern Advanced Accounting
  4. Exam
    Exam 4: Accounting for Branches; Combined Financial Statements
  5. Question
    In a Combined Balance Sheet for Home Office and Branch
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In a Combined Balance Sheet for Home Office and Branch

Question 23

Question 23

True/False

In a combined balance sheet for home office and branch, the balance of the Allowance for Overvaluation of Inventories: Branch ledger account is deducted from the balance of the Investment in Branch account.

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