When credit sales of Rs 5,000 to Ram are wrongly posted as Rs 500 in his account, it is an error of: MCQ with Answer and Explanation

Explanation:
Provision for Doubtful Debts is a contra asset to Debtors, Bank/Cash is a contra account in the cash book, and Accumulated Depreciation is a contra asset to Fixed Assets.

Explanation:
The Union Budget is presented by the Finance Minister.

Explanation:
A Fixed Budget is prepared for a single, predetermined level of activity. A Flexible Budget is designed to change with the level of activity and is prepared for a range of activity levels. S1 is incorrect, S2 is correct.