Wages paid for the erection of a new boiler should be debited to: MCQ with Answer and Explanation

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Wages paid for the erection of a new boiler should be debited to:

A. Repairs Account

B. Trading Account

C. Boiler (Machinery) Account

D. Wages Account

Answer: Option C

Solution (By JKSSB Mock Tests)

Capitalizing erection costs is required under standard accounting principles, so it is debited to the specific asset account.

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

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The 'Comptroller and Auditor General' (CAG) is appointed by:

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Correct Answer: Option D

Explanation:
CAG is appointed by the President under Article 148.

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Which of the following is a 'Voucher' in a manual accounting system?

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