ABC Company has a branch operation located in Antipolo. The Investment in Antipolo Branch in the books of the home office is lower than the Home Office Current in the books of the branch. Which of the following statements would explain the difference?

a. The home office may have assigned an expense allocation to the branch.

b. Cash may be in transit from the branch to the home office.

c. Cash may have been collected by the home office for the branch but such is not yet reported to the branch.

d. Inventories may be in transit from the home office to the branch.