Question

The Second National Bank of Guthrie has opened an office in Chile. This office offers a full line of services and is not a separate legal entity from the Second National Bank of Guthrie. What type of office did the Second National Bank of Guthrie open in Chile

Answer 1

The Second National Bank of Guthrie has opened an office in Chile. This office offers a full line of services and is not a separate legal entity from the Second National Bank of Guthrie. The type of  office the Second National Bank of Guthrie open in Chile is the Branch Office

Explanation:

A branch office is one that  :

• That offers a full line of services and is not a separate legal entity from the Second National Bank of Guthrie.

A branch office is a location, which is other  than the main office, where a business is conducted. A branch office consist of MANY smaller divisions of different DEPARTMENTS of the company such as human resources, marketing, and finance.

The main Difference between a branch office and a subsidiary is that a branch office   is not a separate legal entity of the parent corporation whereas  a subsidiary is a separate legal entity from the parent, although owned by the parent corporation.