RENT OWED BY A DEPARTMENT IS TREATED IN THE BALANCE SHEET AS
A. asset of the business B. asset of the department C. liability of the business ✓ D. liability of the department The answer to the question is: C. liability of the business Rent owed by a department represents an obligation of the business to…
DISTINGUISH BETWEEN A BRANCH AND A DEPARTMENT
A branch and a department are both organizational units within an institution or organization, but they have distinct characteristics and functions. A branch refers to a unit or division of an organization that operates in a separate location from its…
Study Guide
