The transfer of money from one sub-head to another in the public sector is

Which of the following errors will affect the agreement of the trial balance? A Error of original entry B Error of commission C Error of transposition D Error of omission Answer is C

The financial statement which is an expression of the accounting equation is the A Trading account B Profit and loss account C Balance sheet D Statement of cash flow Answer is C

When a fixed asset is disposed off, the accounting entries to write off the asset are Debit A Profit and loss account; credit asset disposal account B Asset disposal account; credit profit and loss account C Asset disposal account, credit …