In the context of accounting for branch operations, the head office and branch maintain reciprocal accounts to record transactions between them. 

When the head office sends goods or cash to the branch, it records these as debits in the branch account (because the branch owes the head office for these assets).

Correspondingly, the branch records these as credits in the head office account (because it owes the head office for these assets).

Conversely, when the branch remits cash or returns goods to the head office, it records these as debits in the head office account (because the head office owes the branch for these assets).

The head office records these as credits in the branch account (because it owes the branch for these assets).

Therefore, D. the head office current account has a debit balance while the branch current account has a credit balance is the correct answer.