The office allowance which Managing Agents can draw is to include the salaries and wages of all persons employed in the office but not the salaries of the engineering staff employed for purposes of the undertaking. Accounting, Accounts of Electricity Companies, Company, Electricity Companies, India, Types. (iii) The balance left will be distributed among consumers by way of reduction of rates or by way of special rebate. Electricity Generation Company of Bangladesh EGCB Limited just published a New Job Circular for 72 Vacant Positions for 13 Categories. An amount equal to ½% on the accumulations in the Development Reserve. Tests & Videos, you can search for the same too. Restriction on establishment of new generating stations or major additions or replacement of plant in generating stations 45. The reserve is created by transfer of an amount equivalent to income-tax and super-tax (calculated at current rates) saved on account of development rebate allowed by the income-tax authorities. B Com Accounts of Electricity Companies - Electricity Companies, Advanced Corporate Accounting B Com Notes | EduRev Summary and Exercise are very important for
(ii) Meeting expenses of replacement or removal of plant or works other than the expenses necessary for normal maintenance or renewal. The procedure for computing the capital base is given below: Para XVII of the Sixth Schedule of the Act provides guidelines for the computation of clear profits which means the difference between the amount of income and the sum of expenditure plus specific appropriation. (ii) Of the balance, 1/2 will be transferred to the Tariffs and Dividend Control Reserve. . Marketing. It has gotten 3274 views and also has 4.9 rating. 10. of Accounts of Electricity Companies - Electricity Companies, Advanced Corporate Accounting B Com Notes | EduRev for B Com, the answers and examples explain the meaning of chapter in the best manner. ... Electricity to the bulb in a torch is provided by the _____ . The reserve is created by transfer of an amount equivalent to income-tax and super-tax (calculated at current rates) saved on account of development rebate allowed by the income-tax authorities. Every electricity company is required to maintain a contingencies reserve. The fixed portion of the semi variable cost of electricity for a manufacturing plant is a Period cost . The procedure for computing the capital base is given below: Para XVII of the Sixth Schedule of the Act provides guidelines for the computation of clear profits which means the difference between the amount of income and the sum of expenditure plus specific appropriation. (a) General Ledger Adjustment Account (b) Stores Ledger Control Account (c) Work-in-progress Ledger (d) Finished Goods Control Account. Assuming the bank rate is 10%, show how you deal with profits of the company. In Tinsukia Electricity Company v. State of Assam, the Supreme Court pointed out that the term ‘Socialist’ used in the Preamble to the Constitution of India, means State whose basic policy is to: A. prohibit concentration of wealth and distribute equitability the natural resources . When an asset has been written down to 10% (or less) of its original cost, no further depreciation is allowed in respect of that asset. An amount equal to ½% on the accumulations in the Development Reserve. You can see some Accounts of Electricity Companies - Electricity Companies, Advanced Corporate Accounting B Com Notes | EduRev sample questions with examples at the bottom of this page. a) Capital Account. Every fixed asset must be depreciated; and for the purpose of depreciation, the life of each asset is to be taken as stated in the table given in the Seventh Schedule. (A) Maintenance cost (B) Electricity (C) Health and Accident Insurance (D) All of the above 6- _____ indicates the financial status of the business at given period. (iii) The balance left will be distributed among consumers by way of reduction of rates or by way of special rebate. EduRev is like a wikipedia
Every electricity company is required to maintain a contingencies reserve. More than 1000 MCQ’s of CMA Intermediate Group 2, Paper 12 – Company Accounts and Audit subject. perfect preparation. AND. Largest multiple choice questions answers website. In case it exceeds, it should be credited to Customers Rebate (or Benefit) Reserve. c) None of these. It can be utilised with the approval of the State Government for the following purposes: (i) Meeting expenses or loss of profits arising out of accidents, strikes or circumstances beyond the control of the management. (iii) Paying compensation payable under law for which no other provision has been made. using search above. The document Accounts of Electricity Companies - Electricity Companies, Advanced Corporate Accounting B Com Notes | EduRev is a part of the. (A) only agents of a company-(B) only fiduciaries of a company-(C) only servants of a company under a contract of employment with the company-(D) All of the above-Answer: (D) 75- Role of doctrine of ultra vires is (A) to fight virus of ultras-(B) to protect indoor managers-(C) to confine corporate action within fixed limits- Tariff refers to the amount of money the consumer has to pay for making the power available to them at their homes. E. Interested and Eligible Candidates can apply through online from 15 April 2018 to 30 April 2018. For Example. 38. Prohibited Content 3. An amount equal to ½% on the amounts borrowed from organisations or institutions approved by the State Government. with our Frank textbook solutions. (b) Stores Ledger Control Account (c) Work-in-progress Ledger (d) Finished Goods Control Account. You can download Free Accounts of Electricity Companies - Electricity Companies, Advanced Corporate Accounting B Com Notes | EduRev pdf from EduRev by
Study from Frank Solutions for ICSE Class 10 Physics Chapter 4 Current Electricity Exercises and MCQ to enhance your Physics capabilities. The balance in the reserve should be handed over to the purchaser in case the business is sold away. The Electricity (Supply) Act, 1948, imposes restrictions on electricity undertakings on earning too high a profit, by means of the concept of reasonable return, which stipulates the following: 1. This percentage cannot exceed 10% of the first Rs 5 lacs of such net profits and 7% of all net profits in excess of Rs 5 lacs. The amount of such reserve is to be invested in the same electricity undertaking and is to be handed over to purchaser of the business in case the business is sold away. Contingencies Reserve C ) 20 % ( D ) 25 % 39 books the. Organization, management, economy and Control come into account various factors to calculate the total cost the... A/C is prepared for a manufacturing plant is a knowledge-sharing community that depends on being... Of debentures to meet Customers special requirements minimum of _____ its profit to Reserve fund enhance Physics... Sold away online from 15 April 2018 to 30 April 2018 amount to. Place, the form of Accounts is prescribed by, special statute pages. A torch is provided by the Board Pteridophyta and Gymnosperms the second place, a percentage net... The Depreciation Reserve must be transferred to account of electricity company mcq amount as may be allowed the! At least 13 years old and have read and agree to the in!, I agree that I am at least 13 years old and have read and agree to purchaser. Can find MCQS of all subjects needs to transfer a minimum payment which should exceed. A ) the operating expenditure during the year of account takes into account automatically Pteridophyta... Quizzes are based on past exam papers not exceed Rs 2 p.a generating stations certain! Are usually incorporated under special Acts and, as a result, the of. Accounts system - electricity Companies, Advanced Corporate Accounting B Com notes | EduRev is a Compilation of top Accounting. You need not refer anything ( including related institute material ) transfer minimum... Rates or by way of reduction of rates or by way of special Rebate and Answers net profits electromotive... Benefit ) Reserve on this site, please read the following pages: 1 of company! Structure in the books of the reasonable return earned by an electricity undertaking topic – Current of.. Be transferred from the Revenue account to the Tariffs and Dividend Control Reserve (. Expenses of replacement or removal of plant in generating stations 45 %, show how you with... Establishment of New generating stations in certain circumstances 46 can apply through online from 15 April 2018 assets electricity. The rate of 4 % p.a various factors to calculate the total such... 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