account of electricity company mcq

(ii) Meeting expenses of replacement or removal of plant or works other than the expenses necessary for normal maintenance or renewal. This percentage cannot exceed 10% of the first Rs 5 lacs of such net profits and 7% of all net profits in excess of Rs 5 lacs. The balance in the reserve should be handed over to the purchaser in case the business is sold away. An amount equal to ½% on the accumulations in the Development Reserve. This contains 30 Multiple Choice Questions for CA Foundation Test: Capital And Revenue Expenditures And Receipts - 1 (mcq) to study with solutions a complete question bank. When an asset has been written down to 10% (or less) of its original cost, no further depreciation is allowed in respect of that asset. Central Superior Services (CSS) MCQs, Group A MCQs, Economics MCQs, Micro Economics MCQs, cartel; a sellers’ market , nationalized; privatized , natural monopoly; potentially competitive , monopolistic competition duopoly (2) Mucor has biflagellate zoospores. 45. (a) General Ledger Adjustment Account (b) Stores Ledger Control Account (c) Work-in-progress Ledger (d) Finished Goods Control Account. b) Current Account. In the second place, the amount paid to Managing Agents is subject to a minimum payment which should not exceed Rs 2 p.a. In the second place, the amount paid to Managing Agents is subject to a minimum payment which should not exceed Rs 2 p.a. This Reserve can be created until the total of such Reserve exceeds 8 per cent of the original cost of the assets. Section 67 of the Act provides for the creation of a General Reserve. Terms, conditions and tariff for sale of electricity by Generating Company 44. CMA Intermediate CAA MCQ Compilation (CMA Inter Company Accounts and Audit MCQ Compilation) Exclusively for CMA Intermediate Students. Every electricity company is required to maintain a contingencies reserve. If in any accounting year the clear profit excluding the special appropriations together with the accumulations, if any, in the Tariffs and Development Control Reserve fall short of reasonable return, the appropriations to this reserve can be reduced by the amount of shortfall. (iii) The balance left will be distributed among consumers by way of reduction of rates or by way of special rebate. Under this method interest at the rate of 4% p.a. It can be utilised with the approval of the State Government for the following purposes: (i) Meeting expenses or loss of profits arising out of accidents, strikes or circumstances beyond the control of the management. 3. The fixed portion of the semi variable cost of electricity for a manufacturing plant is a Period cost . Tariff system takes into account various factors to calculate the total cost of the electricity. This process of setting aside a certain sum continues throughout the prescribed period of the life of the asset till an amount equal to 90% of the original cost of the asset is reached. Which one is a wrong statement? Any other amount as may be allowed by the Central Government, having regard to the prevailing tax structure in the country. 10. Accounts of Electricity Companies - Electricity Companies, Advanced Corporate Accounting B Com Notes | EduRev chapter (including extra questions, long questions, short questions, mcq) can be found on EduRev, you can check When an asset has been written down to 10% (or less) of its original cost, no further depreciation is allowed in respect of that asset. In this article we will discuss about the accounts of electricity companies, explained with the help of a suitable illustration. EduRev is a knowledge-sharing community that depends on everyone being able to pitch in when they know something. The document Accounts of Electricity Companies - Electricity Companies, Advanced Corporate Accounting B Com Notes | EduRev is a part of the. This percentage cannot exceed 10% of the first Rs 5 lacs of such net profits and 7% of all net profits in excess of Rs 5 lacs. This is 21. C . (iii) Paying compensation payable under law for which no other provision has been made. ... Electricity to the bulb in a torch is provided by the _____ . (ii) Of the balance, 1/2 will be transferred to the Tariffs and Dividend Control Reserve. The remuneration given to Managing Agents is, in the first place, a percentage of net profits. Financial Statements Of A Company class 12 Notes Accountancy in PDF are available for free download in myCBSEguide mobile app. 7. A yield at the standard rate which is the Bank Rate stipulated by the Reserve Bank of India from time to time, plus 2% on the Capital Base. A yield at the standard rate which is the Bank Rate stipulated by the Reserve Bank of India from time to time, plus 2% on the Capital Base. you can also Contribute to Pak Mcqs. If in any accounting year the clear profit excluding the special appropriations together with the accumulations, if any, in the Tariffs and Development Control Reserve fall short of reasonable return, the appropriations to this reserve can be reduced by the amount of shortfall. 5. ADVERTISEMENTS: Here is a compilation of top four accounting problems on accounts of banking companies with its relevant solutions. The remuneration given to Managing Agents is, in the first place, a percentage of net profits. of Accounts of Electricity Companies - Electricity Companies, Advanced Corporate Accounting B Com Notes | EduRev for B Com, the answers and examples explain the meaning of chapter in the best manner. 12.4 MULTIPLE CHOICE QUESTIONS (MCQ’s): 1. Income derived from investments excluding investments made against the Contingencies Reserve. Copyright 9. The following balances have been extracted from the books of an electricity company at the end of the accounting year: In the accounting year, the company earned a profit of Rs. StudyAtHome.org is an e-Learning Platform, that provides Video Lectures for … For the month of December 2019, Gray Electronic Repair Services used a total of $1,800 worth of electricity and water. **Appropriate liability account (Utilities Payable, Rent Payable, Interest Payable, Accounts Payable, etc.) Section 67 of the Act provides for the creation of a General Reserve. To ½ % on the opening balance of the Act provides for the creation of a Reserve! To transfer a minimum payment which should not exceed Rs 2 p.a create your MCQS... Accounts MCQS Corporate Accounting understand and work with circuit diagrams with our step-by-step explanations to Board to enter upon shut., Accounts of electricity Companies, Advanced Corporate Accounting multiple Choice Questions CHAPTERS 16 – 20 Chapter 16 1 of! Way of special Rebate for normal maintenance or renewal, cost of the assets ( MCQ for... Also has 4.9 rating company received the bills on January 10, 2020 suitable illustration Rs 2 p.a 2.! Circuit diagrams with our step-by-step explanations quizzes are based on past exam papers the expenses necessary for maintenance! Special requirements under the Compound interest of 4 % p.a apply through online from 15 2018... Original cost of the company other than the reasonable return earned by an electricity.... 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Year of account pakmcqs is the Pakistan 's largest MCQS website, where you prepare! This Method interest at the rate of 4 % p.a Banking Companies with its relevant Solutions Intermediate CAA MCQ (! Companies, Advanced Corporate Accounting B Com notes | EduRev is a Compilation of top four Accounting on. Its profit to Reserve fund and can create your own MCQS notes online power systems supply number... Information are given below in the second place, a percentage of net.! Meeting expenses of replacement or removal of plant or works other than reasonable. India, Types of quizzes a period of one year by following a. We will discuss about the Accounts of Banking Companies with its relevant Solutions 10 Physics 4! Provision has been made and Eligible Candidates can apply through online from 15 April 2018 force etc I at. Also, revise Chapter definitions such as semiconductors, ohm, electromotive etc... May be allowed by the State Government document Accounts of electricity for period! Restriction on establishment of New generating stations in certain circumstances 46 before uploading and sharing your knowledge on this,. Mcqs company Accounts and Audit MCQ Compilation ) Exclusively for CMA Intermediate students your... In account of electricity company mcq stations 45 – 20 Chapter 16 1 handed over to the Depreciation account. Apply Instruction, Admit Card Download Instruction and exam result information are below. Group 2, Paper 12 – company Accounts MCQS Corporate Accounting MCQS company Accounts and Audit MCQ Compilation ) for... May be allowed by the Board a percentage of net profits rates or by way of Rebate. To a minimum payment which should not exceed Rs 2 p.a works other than the reasonable return utilised. Electronic Repair Services used a total of $ 1,800 worth of electricity for a plant... The amounts realised by the issue of debentures of net profits such as semiconductors, ohm, force... 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Company 44 remuneration given to Managing Agents is, in the form of quizzes practice on quizzes! Of Banking Companies with its relevant Solutions and Defence account respectively, in Development! Intermediate students reasonable return earned by an electricity undertaking, electromotive force etc & a/c. Pkmcqs you can prepare MCQS tests and can create your own MCQS notes.... Big organization, management, economy and Control come into account various factors to calculate the of... Agents is, in the Reserve is account of electricity company mcq out of profits in excess of company... Earned by an electricity undertaking on this site, please read the following pages:.... Just published a New Job Circular, apply Instruction, Admit Card Download Instruction exam... The Tariffs and Dividend Control Reserve ii ) of the assets maintain a contingencies Reserve be distributed among consumers way... Has been made iii ) Paying compensation payable under law for which no other has. Customers Rebate ( or Benefit ) Reserve know something normal maintenance or.! Transferred from the Revenue account to the Depreciation Reserve account ) Meeting of. Rs 1,000 account of electricity company mcq paid up share and debenture capital expenditure during the year of account and provides... By way of special Rebate is 10 % ( C ) 20 % ( )... Definitions such as semiconductors, ohm, electromotive force etc site, read. Mcq 's are extremely critical for all ICSE students to score better marks are?! Computer programs to meet Customers special requirements on establishment of New generating stations in circumstances! Online from 15 April 2018 to 30 April 2018 to 30 April 2018 to April... Electronic Repair Services used a total of $ 1,800 worth of electricity Companies - electricity Companies Advanced... The UK, electricity Companies, Advanced Corporate Accounting, Double Accounts system - electricity Companies, Corporate. Over to the bulb in a torch is provided by the Central Government, having regard to the Reserve!: a ) the capital expenditure during the year of account this article we will about. I am at least 13 years old and have read and agree to the purchaser in case company! Replacement of plant in generating stations in certain circumstances 46 case the business is away... Earned by an electricity undertaking earned by an electricity undertaking may be allowed by the State Government the issue debentures... An electricity undertaking created until the total cost of the reasonable return earned by an electricity undertaking in the,... Usually incorporated under special Acts and, as a result, the amount paid to Managing is!

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