⭐ Important points (exam-critical)
- ⭐In Debtors Method, branch P&L not prepared separately — overall HO P&L absorbs.
- ⭐Goods in transit shown in HO books if branch did not receive by year-end.
- ⭐Wholesale Branches: distinguish between wholesale and retail profit.
- ⭐Insurance claim adjustment when branch stock destroyed must include loading.
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