The 'Monetary Unit Sampling' (MUS) is a: MCQ with Answer and Explanation
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Question #1
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The 'National Pension System' (NPS) for government employees was made mandatory for those joining after:
Correct Answer: Option D
Explanation:
NPS replaced the old defined benefit pension for central government employees joining on or after 1/1/2004.
NPS replaced the old defined benefit pension for central government employees joining on or after 1/1/2004.
This question belongs to:
Accountancy and Statistics
Accountancy and Book Keeping
Question #2
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A: The Ledger is the book of final entry. R: All transactions from subsidiary books are posted to the Ledger. Choose the correct option.
Correct Answer: Option D
Explanation:
The Ledger is indeed the book of final entry (or principal book) where all transactions are ultimately classified. Transactions from subsidiary books are posted to it. Both are true, but R describes the process, not why it's called the book of final entry.
The Ledger is indeed the book of final entry (or principal book) where all transactions are ultimately classified. Transactions from subsidiary books are posted to it. Both are true, but R describes the process, not why it's called the book of final entry.
This question belongs to:
Accountancy and Statistics
Accountancy and Book Keeping
Question #3
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During dissolution of a partnership, realization expenses paid by a partner on behalf of the firm are:
Correct Answer: Option D
Explanation:
Because the firm owes the partner for this expense, it is charged to Realisation (Debit) and credited to the Partner's Capital account.
Because the firm owes the partner for this expense, it is charged to Realisation (Debit) and credited to the Partner's Capital account.
This question belongs to:
Accountancy and Statistics
Accountancy and Book Keeping
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