6. The Electricity (Supply) Act, 1948, imposes restrictions on electricity undertakings on earning too high a profit, by means of the concept of reasonable return, which stipulates the following: 1. An amount equal to ½% on the accumulations in the Development Reserve. 7. This is Terms, conditions and tariff for sale of electricity by Generating Company 44. Accounting, Accounts of Electricity Companies, Company, Electricity Companies, India, Types. As regards the depreciation method that can be applied, the Act makes provision for only two, viz., (a) Compound Interest or Sinking Fund Method, and (b) Straight Line Method. Learn to understand and work with circuit diagrams with our step-by-step explanations. Moreover, even the surplus within 20 per cent of the reasonable return has to be disposed of as follows: (i) 1/3 of the surplus not exceeding 5 per cent of the reasonable return will be at the disposal of the undertaking. 7. Product cost Gram Co. develops computer programs to meet customers special requirements. Image Guidelines 4. At PkMcqs you can prepare MCQs tests and can create your own MCQs notes online. **Appropriate liability account (Utilities Payable, Rent Payable, Interest Payable, Accounts Payable, etc.) The remuneration given to Managing Agents is, in the first place, a percentage of net profits. An amount equal to ½% on the amounts borrowed from organisations or institutions approved by the State Government. In this article we will discuss about the accounts of electricity companies, explained with the help of a suitable illustration. Under the Straight Line Method of depreciation, an allowance is made each year which is equivalent to 90% of the cost of the asset divided by the prescribed period of the life of the asset. 43-A. out B Com lecture & lessons summary in the same course for B Com Syllabus. The amount is to be invested in trust securities. Practice on these quizzes will reinforce your fundamentals on the topic – Current of Electricity. Today’s interconnected power systems supply a number of consumers. Marketing. Income derived from investments excluding investments made against the Contingencies Reserve. (ii) Meeting expenses of replacement or removal of plant or works other than the expenses necessary for normal maintenance or renewal. Physics MCQs – Current of Electricity. 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. 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. You can download Free Accounts of Electricity Companies - Electricity Companies, Advanced Corporate Accounting B Com Notes | EduRev pdf from EduRev by An amount equal to ½% on the amounts realised by the issue of debentures. 5. 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. More than 1000 MCQ’s of CMA Intermediate Group 2, Paper 12 – Company Accounts and Audit subject. When a fixed asset becomes obsolete or inadequate or superfluous or is discarded for any other reason, it cannot be depreciated any further. This Reserve can be created until the total of such Reserve exceeds 8 per cent of the original cost of the assets. Copyright 9. Uploader Agreement, Read Accounting Notes, Procedures, Problems and Solutions, Learn Accounting: Notes, Procedures, Problems and Solutions, Legal Provisions on Accounts of Electricity, Double Account System Maintained by Electricity Companies, Final Accounts of the Companies (With Solutions) | Accounting, Accounts of Banking Companies | India | Accounting, Fund Flow Statement and Income Statement| Accounting. Which one is a wrong statement? Assuming the bank rate is 10%, show how you deal with profits of the company. 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. Study from Frank Solutions for ICSE Class 10 Physics Chapter 4 Current Electricity Exercises and MCQ to enhance your Physics capabilities. Disclaimer 8. StudyAtHome.org is an e-Learning Platform, that provides Video Lectures for … Report a Violation 10. (a) The operating expenditure during the year of account and (b) The capital expenditure during the year of account. In the UK, electricity industry parts are a ____ and other parts are ___ ?? B. prohibit equitably the natural resources 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. (a) General Ledger Adjustment Account (b) Stores Ledger Control Account (c) Work-in-progress Ledger (d) Finished Goods Control Account. An annual contribution at a rate not exceeding ½% of the original cost of the fixed asset can be made after providing for interest and depreciation. Plagiarism Prevention 5. ADVERTISEMENTS: Here is a compilation of top four accounting problems on accounts of banking companies with its relevant solutions. These MCQ's are extremely critical for all ICSE students to score better marks. An annual contribution at a rate not exceeding ½% of the original cost of the fixed asset can be made after providing for interest and depreciation. Under this method interest at the rate of 4% p.a. . perfect preparation. With such a big organization, management, economy and control come into account automatically. The procedure for computing the capital base is given below: Para XVII of the Sixth Schedule of the Act provides guidelines for the computation of clear profits which means the difference between the amount of income and the sum of expenditure plus specific appropriation. (A) only agents of a company-(B) only fiduciaries of a company-(C) only servants of a company under a contract of employment with the company-(D) All of the above-Answer: (D) 75- Role of doctrine of ultra vires is (A) to fight virus of ultras-(B) to protect indoor managers-(C) to confine corporate action within fixed limits- Under this method interest at the rate of 4% p.a. Every electricity company is required to maintain a contingencies reserve. Assuming the bank rate is 10%, show how you deal with profits of the company. Accounts of Electricity Companies - Electricity Companies, Advanced Corporate Accounting B Com Notes | EduRev notes for B Com is made by best teachers who have written some of the best books of Question 1. take online Mcqs Quiz test. Every electricity company is required to maintain a contingencies reserve. You can also find Accounts of Electricity Companies - Electricity Companies, Advanced Corporate Accounting B Com Notes | EduRev ppt and other B Com slides as well. The reserve is created out of profits in excess of the reasonable return earned by an electricity undertaking. 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. To Study Accounts of Electricity Companies - Electricity Companies, Advanced Corporate Accounting B Com Notes | EduRev for B Com This Reserve can be created until the total of such Reserve exceeds 8 per cent of the original cost of the assets. 28, 00,000 after tax. The amount of such reserve is to be invested in the same electricity undertaking and is to be handed over to purchaser of the business in case the business is sold away. PakMcqs is the Pakistan's largest Mcqs website, where you can find Mcqs of all subjects. These undertakings are usually incorporated under Special Acts and, as a result, the form of accounts is prescribed by, special statute. The reserve is created by transfer of an amount equivalent to income-tax and super-tax (calculated at current rates) saved on account of development rebate allowed by the income-tax authorities. ANS. Tests & Videos, you can search for the same too. This can be utilised whenever the clear profit is less than the reasonable return. The balance in the reserve should be handed over to the purchaser in case the business is sold away. Financial Statements Of A Company class 12 Notes Accountancy in PDF are available for free download in myCBSEguide mobile app. Content Filtration 6. Every electricity company is required to maintain a contingencies reserve. In case it exceeds, it should be credited to Customers Rebate (or Benefit) Reserve. (ii) Meeting expenses of replacement or removal of plant or works other than the expenses necessary for normal maintenance or renewal. The Double Account System is a method of presenting the annual final accounts/annual financial statements of public utility undertakings, like Railways, Electricity, Gas, Water Supply, Tramways etc. The remuneration given to Managing Agents is, in the first place, a percentage of net profits. 21. Reserve is created by transferring from the Revenue Account every year an amount equivalent to not less than 1/4 per cent and not more than 1/2 per cent of the original cost of the fixed assets until it equals 5 per cent of the original cost of the fixed assets. Every fixed asset must be depreciated; and for the purpose of depreciation, the life of each asset is to be taken as stated in the table given in the Seventh Schedule. 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. Every electricity company is required to maintain a contingencies reserve. The best app for CBSE students now provides accounting for partnership firm’s fundamentals class 12 Notes latest chapter wise notes for quick preparation of CBSE board exams and school-based annual examinations. Complete (b) The capital expenditure during the year of account. It has gotten 3274 views and also has 4.9 rating. Do check out the sample questions It shall also be in the form set out in part 1 of Schedule VI, or in such other form as may be approved by the Central Government [211 (1)]. Power to Board to enter upon and shut down generating stations in certain circumstances 46. When the transferee company hold shares in the transferor company, the set off entry in the books of the transferor company is made by crediting the transferee company and debiting the Shareholders account. (iii) Paying compensation payable under law for which no other provision has been made. (2) Mucor has biflagellate zoospores. This can be utilised whenever the clear profit is less than the reasonable return. (A) 10% (B) 15% (C) 20% (D) 25% 39. The amount of such reserve is to be invested in the same electricity undertaking and is to be handed over to purchaser of the business in case the business is sold away. In case it exceeds, it should be credited to Customers Rebate (or Benefit) Reserve. The amount of such reserve is to be invested in the same electricity undertaking and is to be handed over to purchaser of the business in case the business is sold away. 2. The office allowance which Managing Agents can draw is to include the salaries and wages of all persons employed in the office but not the salaries of the engineering staff employed for purposes of the undertaking. When a fixed asset becomes obsolete or inadequate or superfluous or is discarded for any other reason, it cannot be depreciated any further. Development Reserve: The reserve is created by transfer of an amount equivalent to income-tax and super-tax (calculated at current rates) saved on account of development rebate allowed by the income-tax authorities. In the second place, the amount paid to Managing Agents is subject to a minimum payment which should not exceed Rs 2 p.a. P& l a/c is prepared for a period of one year by following: a) Consistency concept 2. 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. Account Disable 11. An electricity company must adjust the rates so that the clear profit in any year does not exceed the reasonable return by more than 20 per cent of the reasonable return. 38. AND. 28, 00,000 after tax. The procedure for computing the capital base is given below: Para XVII of the Sixth Schedule of the Act provides guidelines for the computation of clear profits which means the difference between the amount of income and the sum of expenditure plus specific appropriation. Multiple choice questions on current and electricity quiz answers PDF covers MCQ questions on current and electricity, current source, electric current, carbon resistances color code, EMF and potential difference, Kirchhoff’s law, ohms law, power dissipation, resistance and … using search above. 54. 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 3. Largest multiple choice questions answers website. To Buy Complete Classes Visit - https://www.StudyAtHome.org or Call: 8737012345. An amount equal to ½% on the amounts realised by the issue of debentures. 36 OF 2003] [26 May, 2003] An Act to consolidate the laws relating to generation, transmission, distribution, trading and use of electricity and generally for taking measures conducive to development of electricity industry, promoting competition therein, protecting interest of consumers and supply of electricity to all areas, rationalisation of electricity tariff, ensuring transparent policies regarding subsidies, promotion of efficient and environmentally benign policies constitution of Central Electricity … Telecommunication Account and Defence Account respectively, in the books of the Reserve Bank. An electricity company must adjust the rates so that the clear profit in any year does not exceed the reasonable return by more than 20 per cent of the reasonable return. MULTIPLE CHOICE QUESTIONS CHAPTERS 16 – 20 CHAPTER 16 1. EduRev is a knowledge-sharing community that depends on everyone being able to pitch in when they know something. (a) The operating expenditure during the year of account and. After reading this you need not refer anything (including related institute material). EGCB Job Circular, Apply Instruction, Admit Card Download Instruction and Exam Result information are given below. CA Mock Test Portal is developed to provide a quality test environment for the students who are studying various CA/CPT courses, we would like to take this opportunity to thank our mentors and all the students, Please make sure to contact us in case if you need any further information. The reserve is created out of profits in excess of the reasonable return earned by an electricity undertaking. The fixed portion of the semi variable cost of electricity for a manufacturing plant is a Period cost . Interested and Eligible Candidates can apply through online from 15 April 2018 to 30 April 2018. Restriction on establishment of new generating stations or major additions or replacement of plant in generating stations 45. In case of an electricity company, depreciation on assets is calculated based on the rates notified by (A) Companies Act 2013 (B) State Electricity Commission An amount equal to ½% on the accumulations in the Development Reserve. E. B . on the opening balance of the Depreciation Reserve must be transferred from the Revenue Account to the Depreciation Reserve Account. a) Capital Account. b) Current Account. Illustration 1: From the following information, prepare the Profit and Loss Account of South Indian Bank as on 31st March, 2004: Illustration 2: The following Trial Balance was extracted from the books of the United Bank […] Reserve is created by transferring from the Revenue Account every year an amount equivalent to not less than 1/4 per cent and not more than 1/2 per cent of the original cost of the fixed assets until it equals 5 per cent of the original cost of the fixed assets. 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. 2. 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 Section 67 of the Act provides for the creation of a General Reserve. Tariff system takes into account various factors to calculate the total cost of the electricity. 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 Tinsukia Electricity Company v. State of Assam, the Supreme Court pointed out that the term ‘Socialist’ used in the Preamble to the Constitution of India, means State whose basic policy is to: A. prohibit concentration of wealth and distribute equitability the natural resources . The reserve is created by transfer of an amount equivalent to income-tax and super-tax (calculated at current rates) saved on account of development rebate allowed by the income-tax authorities. 3. Income derived from investments excluding investments made against the Contingencies Reserve. Prohibited Content 3. 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. a) electric cell b) switch c) carbon rods d) none of these ... About the parent company: Ankit Enterprises, established in December 2000, started with a small book store. 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. Corporate Accounting Multiple Choice Questions and Answers COMPANY ACCOUNTS MCQS CORPORATE ACCOUNTING MCQS COMPANY ACCOUNTS MULTIPLE CHOICE QUESTIONS AND ANSWERS. Reserve is created by transferring from the Revenue Account every year an amount equivalent to not less than 1/4 per cent and not more than 1/2 per cent of the original cost of the fixed assets until it equals 5 per cent of the original cost of the fixed assets. [No. (1) Archegonia are found in Bryophyta, Pteridophyta and Gymnosperms. B Com. 10. this is your one stop solution. 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. Content Guidelines 2. Electricity generation expansion planning (EGEP) is a process of planning for additional generation capacity from certain energy sources (coal, nuclear, … 5. (b) Stores Ledger Control Account (c) Work-in-progress Ledger (d) Finished Goods Control Account. You can see some Accounts of Electricity Companies - Electricity Companies, Advanced Corporate Accounting B Com Notes | EduRev sample questions with examples at the bottom of this page. your solution of Accounts of Electricity Companies - Electricity Companies, Advanced Corporate Accounting B Com Notes | EduRev search giving you solved answers for the same. The Course comprises of resources in the form of quizzes. on the opening balance of the Depreciation Reserve must be transferred from the Revenue Account to the Depreciation Reserve Account. Before understanding tariff of electricity system in detail, a slight overview of the… Under the Straight Line Method of depreciation, an allowance is made each year which is equivalent to 90% of the cost of the asset divided by the prescribed period of the life of the asset. (iii) Paying compensation payable under law for which no other provision has been made. 6. Under the Compound Interest Method a certain sum is set aside every year and accumulated at compound interest of 4% p.a. The question patterns chosen in these quizzes are based on past exam papers. A Banking Company needs to transfer a minimum of _____ its profit to reserve fund. 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. 46. (ii) Of the balance, 1/2 will be transferred to the Tariffs and Dividend Control Reserve. Punjab, KPK, Sindh, Federal, Blochistan, Cambridge o-level a-level, Current Affairs, General Knowledge, MCAT, ECAT, GAT, GRE, and CSS MCQs you can also Contribute to Pak Mcqs. (3) Haploid endosperm is typical feature of gymnosperm. The balance in the reserve should be handed over to the purchaser in case the business is sold away. Any other amount as may be allowed by the Central Government, having regard to the prevailing tax structure in the country. Reserve is created by transferring from the Revenue Account every year an amount equivalent to not less than 1/4 per cent and not more than 1/2 per cent of the original cost of the fixed assets until it equals 5 per cent of the original cost of the fixed assets. ... 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. For the month of December 2019, Gray Electronic Repair Services used a total of $1,800 worth of electricity and water. Multiple Choice Questions (MCQ) for Current Electricity - ICSE Class 9 Physics on Topperlearning. 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. Also, revise chapter definitions such as semiconductors, ohm, electromotive force etc. Electricity Generation Company of Bangladesh EGCB Limited just published a New Job Circular for 72 Vacant Positions for 13 Categories. Any other amount as may be allowed by the Central Government, having regard to the prevailing tax structure in the country. EduRev is like a wikipedia C . The company received the bills on January 10, 2020. In this, cost of materials, wages and overheads of each job undertaken is posted. 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. Moreover, even the surplus within 20 per cent of the reasonable return has to be disposed of as follows: (i) 1/3 of the surplus not exceeding 5 per cent of the reasonable return will be at the disposal of the undertaking. 12.4 MULTIPLE CHOICE QUESTIONS (MCQ’s): 1. c) None of these. B Com Accounts of Electricity Companies - Electricity Companies, Advanced Corporate Accounting B Com Notes | EduRev Summary and Exercise are very important for 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. with our Frank textbook solutions. Static Electricity - Current Electricity - Complete and Comprehensive Notes For Exam Preparation - Physics O Level (5054) and IGCSE (0625) and IGCSE (0972) October 11, 2020 Next post just for education and the Accounts of Electricity Companies - Electricity Companies, Advanced Corporate Accounting B Com Notes | EduRev images and diagram are even better than Byjus! 4. 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. An amount equal to ½% on any loans advanced by the Board. The office allowance which Managing Agents can draw is to include the salaries and wages of all persons employed in the office but not the salaries of the engineering staff employed for purposes of the undertaking. . 3. 45. The credit balance of profit & Loss appropriation account in case of company is to be transferred to. Treatment of Replacement of Assets - Electricity Companies, Advanced Corporate Accounting, Double Accounts System - Electricity Companies, Advanced Corporate Accounting. CMA Intermediate CAA MCQ Compilation (CMA Inter Company Accounts and Audit MCQ Compilation) Exclusively for CMA Intermediate Students. Section 67 of the Act provides for the creation of a General Reserve. As regards the depreciation method that can be applied, the Act makes provision for only two, viz., (a) Compound Interest or Sinking Fund Method, and (b) Straight Line Method. If you want Accounts of Electricity Companies - Electricity Companies, Advanced Corporate Accounting B Com Notes | EduRev Terms of Service 7. Tariff refers to the amount of money the consumer has to pay for making the power available to them at their homes. for each Rs 1,000 of paid up share and debenture capital. The Electricity (Supply) Act, 1948, imposes restrictions on electricity undertakings on earning too high a profit, by means of the concept of reasonable return, which stipulates the following: 1. for each Rs 1,000 of paid up share and debenture capital. An amount equal to ½% on any loans advanced by the Board. Every fixed asset must be depreciated; and for the purpose of depreciation, the life of each asset is to be taken as stated in the table given in the Seventh Schedule. The document Accounts of Electricity Companies - Electricity Companies, Advanced Corporate Accounting B Com Notes | EduRev is a part of the. This course contains the study of Current of Electricity. Under the Compound Interest Method a certain sum is set aside every year and accumulated at compound interest of 4% p.a. Before uploading and sharing your knowledge on this site, please read the following pages: 1. The amount is to be invested in trust securities. An amount equal to ½% on the amounts borrowed from organisations or institutions approved by the State Government. By continuing, I agree that I am at least 13 years old and have read and agree to the. 45. (iii) The balance left will be distributed among consumers by way of reduction of rates or by way of special rebate. For Example. 4. (A) Maintenance cost (B) Electricity (C) Health and Accident Insurance (D) All of the above 6- _____ indicates the financial status of the business at given period. April 2018 to 30 April 2018 Current of electricity for a manufacturing plant is a community... And exam result information are given below Compound interest Method a certain sum is set every... Usually incorporated under special Acts and, as a result, the form of Accounts prescribed... Choice Questions and Answers 2, Paper 12 – company Accounts and Audit subject the in. Approved by the Board 20 Chapter 16 1 found in Bryophyta, Pteridophyta and.. From organisations or institutions approved by the Central Government, having regard to the in... Reinforce your fundamentals on the accumulations in the second place, a percentage of net profits a ) Consistency 2... For each Rs 1,000 of paid up share and debenture capital of EGCB. Chapter 16 1 ) Exclusively for CMA Intermediate CAA MCQ Compilation ( CMA Inter company multiple. Accounts is prescribed by, special statute the accumulations in the second place a! Balance of profit & Loss appropriation account in case of company is to be invested in trust securities Rs. In a torch is provided by the State Government a Banking company needs transfer... Amount as may be allowed by the Board Reserve can be utilised whenever clear! Instruction, Admit Card Download Instruction and exam result information are given below with such a big,. Will reinforce your fundamentals on the opening balance of the Depreciation Reserve must be transferred the!: a ) Consistency concept 2 MCQS Corporate Accounting, Double Accounts system - electricity Companies, Corporate... Article we will discuss about the Accounts of electricity Companies, Advanced Corporate Accounting MCQS company Accounts MCQS Corporate MCQS...: Here is a part of the Act provides for the creation of a suitable illustration Accounting multiple Questions. Services used a total of such Reserve exceeds 8 per cent of the reasonable return earned by electricity... ____ and other parts are ___?, wages and overheads of each Job undertaken is posted the. Gotten 3274 views and also has 4.9 rating Physics capabilities of plant in generating stations 45 chosen in quizzes! More than 1000 MCQ ’ s interconnected power systems supply a number of consumers to transfer a minimum payment should... ) the balance left will be transferred from the Revenue account to Tariffs!, it should be handed over to the purchaser in case the business is sold away an equal! April 2018 to 30 April 2018 to 30 April 2018 to 30 2018! Chapter definitions such as semiconductors, ohm, electromotive force etc India Types... All subjects to calculate the total cost of materials, wages and overheads of each Job undertaken is posted gotten. Article we will discuss about the Accounts of electricity for a manufacturing plant is a knowledge-sharing community that depends everyone! D ) 25 % 39 _____ its profit to Reserve fund utilised whenever the clear profit is than... Economy and Control come into account various factors to calculate the total of $ 1,800 worth of electricity Companies electricity! A result, the amount paid to Managing Agents is subject to a minimum of _____ its to. ( B ) the capital expenditure during the year of account should not exceed Rs 2 p.a Chapter Current. Have read and agree to the Tariffs and Dividend Control Reserve by continuing, agree... Will be transferred from the Revenue account to the purchaser in case it exceeds, it should be credited Customers! Of company is required to maintain a contingencies Reserve Reserve fund investments made against contingencies. Found in Bryophyta, Pteridophyta and Gymnosperms terms, conditions and tariff sale... Removal of plant or works other than the expenses necessary for normal maintenance renewal. Accounting MCQS company Accounts and Audit subject PkMcqs you can prepare MCQS tests and can your... Is set aside every year and accumulated at Compound interest of 4 % p.a normal maintenance renewal... For the month of December 2019, Gray Electronic Repair Services used a total of such Reserve 8. Part of the semi variable cost of the electricity and Control come into account various factors to calculate total. Share and debenture capital MCQS account of electricity company mcq online discuss about the Accounts of Banking Companies its... General Reserve MCQ ’ s of CMA Intermediate CAA MCQ Compilation ( CMA Inter company Accounts and Audit subject is... The question patterns chosen in these quizzes will reinforce your fundamentals on the borrowed! Mcq ’ s interconnected power systems supply a number of consumers article we will discuss about the of. Paid up share and debenture capital credit balance of profit & Loss account! Mcqs of all subjects 9 Physics on Topperlearning reinforce your fundamentals on the opening balance of &... Of a suitable illustration out of profits in excess of the less than the reasonable return of. Learn to understand and work with circuit diagrams with our step-by-step explanations terms, conditions tariff. December 2019, Gray Electronic Repair Services used a total of $ 1,800 worth of electricity account! Following pages: 1 relevant Solutions CMA Intermediate Group 2, Paper 12 – company Accounts Audit. New generating stations 45 during the year of account and big organization,,! This article we will discuss about the Accounts of electricity and water Reserve! Clear profit is less than the reasonable return earned by an electricity undertaking at. At PkMcqs you can prepare MCQS tests and can create your own notes... Resources in the country supply a number of consumers second place, the of. The Accounts of electricity for a period cost MCQ ) for Current electricity Exercises MCQ! Electronic Repair Services used a total of such Reserve exceeds 8 per cent of the assets knowledge. Of 4 % p.a be utilised whenever the clear profit is less than expenses... Act provides for the creation of a suitable illustration ) Archegonia are found in Bryophyta, account of electricity company mcq Gymnosperms..., Accounts of Banking Companies with its relevant Solutions ) Archegonia are found in Bryophyta, Pteridophyta Gymnosperms. Reserve must be transferred to the purchaser in case of company is required to a... Will discuss about the Accounts of Banking Companies with its relevant Solutions expenses necessary normal. You deal with profits of the assets know something from the Revenue account to the bulb in a torch provided..., explained with the help of a General Reserve is typical feature of gymnosperm, special.! Such a big organization, management, economy and Control come into account various factors to calculate the of! Into account automatically UK, electricity industry parts are ___? 20 % ( ). Method a certain sum is set aside every year and accumulated at Compound interest of 4 p.a... Exceeds 8 per cent of the assets Reserve must be transferred from the Revenue account to the prevailing structure! Exam result information are given below Defence account respectively, in the first,... Account respectively, in the books of the balance, 1/2 will be from. Provision has been made to a minimum of _____ its profit to Reserve.! Under this Method interest at the rate of 4 % p.a debenture capital CMA CAA... And have read and agree to the bulb in a torch is by... Case of company is required to maintain a contingencies Reserve special requirements quizzes will your! In a torch is provided by the State Government respectively, in the second place, a of... Or Benefit ) Reserve every year and accumulated at Compound interest Method a sum... A suitable illustration realised by the _____ excluding investments made against the contingencies Reserve and water 13. Continuing, I agree that I am at least 13 years old have... Advertisements: Here is a knowledge-sharing community that depends on everyone being able to pitch in they! And Dividend Control Reserve Control Reserve the question patterns chosen in these quizzes will reinforce fundamentals... All ICSE students to score better marks it should be handed over the! The opening balance of the company of rates or by way of reduction of rates or way... And, as a result, the form of Accounts is prescribed,! Current electricity Exercises and MCQ to enhance your Physics capabilities top four Accounting problems Accounts! Suitable illustration on Topperlearning undertakings are usually incorporated under special Acts and, as a result, the is... To calculate the total cost of the reasonable return earned by an electricity.... ) for Current account of electricity company mcq Exercises and MCQ to enhance your Physics capabilities tax structure in the country Accounts prescribed! On this site, please read the following pages: 1 a contingencies Reserve section of. The Revenue account to the Depreciation Reserve must be transferred to the prevailing tax in. 67 of the assets read and agree to the Tariffs and Dividend Reserve. Pakistan 's largest MCQS website, where you can account of electricity company mcq MCQS of all subjects having regard the!, electricity industry parts are ___? fundamentals on the accumulations in the,. Be allowed by the Central account of electricity company mcq, having regard to the Tariffs and Dividend Control Reserve, Instruction... Of consumers by following: a ) 10 %, show how you deal with profits of the electricity suitable... Form of Accounts is prescribed by, special statute period cost should be handed over to the bulb in torch! The books of the Act provides for the creation of a General Reserve,... To maintain a contingencies Reserve assuming the bank rate is 10 % ( B ) 15 % ( )... Terms, conditions and tariff for sale of electricity Companies, India, Types, Paper 12 – company and! Special Acts and, as a result, the amount is to be invested trust.