In a cash flow statement, interest paid on debentures is classified under: MCQ with Answer and Explanation

Explanation:
Start with Pass Book overdraft: -15,000. Add unpresented cheques (+8,000) = -7,000. Less deposits in transit (-5,000) = -12,000? Wait, correct logic: Starting from Pass Book overdraft, to get Cash Book overdraft: Unpresented cheques: Cash Book already reduced, Pass Book not. So Cash Book overdraft would be lower (less negative)? Let's derive: Pass Book balance = -15,000. Unpresented cheques mean cash book recorded payment, so Cash Book balance = -15,000 - 8,000 = -23,000? Let's do properly: If we want Cash Book balance (Dr/Cr). Overdraft as per Pass Book = credit balance ₹15,000. Cheques issued not presented: Cash Book already credited ₹8,000, so Cash Book credit balance = 15,000 + 8,000 = 23,000 overdraft. Deposits in transit: Cash Book already debited ₹5,000, so Cash Book debit reduces overdraft: Cash Book overdraft = 23,000 - 5,000 = 18,000. So ₹18,000 overdraft as per Cash Book. Option B ₹18,000.

Explanation:
Faceless appeal scheme was introduced in 2020 to impart transparency.

Explanation:
Revaluation Account records expenses (decreases in asset values) and incomes (increases in liability values), making it a nominal account. Its purpose is to calculate the net effect of revaluation on partners' capital. Both are correct.