The concept of 'Appropriation Accounts' in government accounting is to: MCQ with Answer and Explanation

Question

Share Report Error

The concept of 'Appropriation Accounts' in government accounting is to:

A. Record tax revenue

B. Audit public accounts

C. Show profit of government companies

D. Show actual expenditure against grants approved by Parliament

Answer: Option D

Solution (By JKSSB Mock Tests)

Appropriation Accounts compare the actual expenditure with the amounts granted by Parliament for each head.

This question belongs to: Accountancy and Statistics Accountancy and Book Keeping

Request complete Subject PDF

Discuss this Question (0)

No comments yet. Be the first to start the discussion!

Practice More Accountancy and Book Keeping Questions

Question #1

The 'Equalisation Levy' at 6% applies to:

A. E-commerce operators

B. All goods

C. All digital services

D. Specified services like online advertisement provided by non-residents

View Answer & Solution Discuss

Get Complete Subject PDF for Accountancy and Statistics

Correct Answer: Option D

Explanation:
Equalisation levy at 6% is on consideration for specified digital services by non-residents; a separate 2% levy on e-commerce supply.

This question belongs to: Accountancy and Statistics Accountancy and Book Keeping

Question #2

A company's debt-equity ratio is 1:1. If total assets are ₹10,00,000, the amount of debt is:

A. ₹4,00,000

B. ₹10,00,000

C. ₹5,00,000

D. ₹2,00,000

View Answer & Solution Discuss

Get Complete Subject PDF for Accountancy and Statistics

Correct Answer: Option C

Explanation:
Debt-equity 1:1 implies Debt = Equity. Total assets = Debt + Equity = 2x. So x = ₹5,00,000, hence debt ₹5,00,000.

This question belongs to: Accountancy and Statistics Accountancy and Book Keeping

Question #3

On dissolution of a firm, an asset taken over by a partner is credited to:

A. Asset Account

B. Partner's Capital Account

C. Bank Account

D. Realisation Account

View Answer & Solution Discuss

Get Complete Subject PDF for Accountancy and Statistics

Correct Answer: Option D

Explanation:
Asset taken over is recorded: Partner's Capital A/c Dr., To Realisation A/c. So Realisation A/c is credited.

This question belongs to: Accountancy and Statistics Accountancy and Book Keeping

Explore All Accountancy and Book Keeping MCQs