SSC CGL Tier-2 28th January 2022 Assistant Audit Officer

Only (ii)

Only (i)

Only (i) and {ii)

(i), ( ii) and ( iii)

Legal fees to acquire property is capital expenditure .

Overhaul expenses of a second-hand machine purchased are revenue expenditure

Amount spent for the replacement of a worn-out pa1i of a machine is capital expenditure

Expenses in connection with obtaining a license for running a cinema are revenue expenditure.

₹10,000 in both the receipt & payment account and income & expenditure account

₹12,000 in both the receipt & payment account and income & expenditure account

₹10,000 in the receipt & payment account ₹12,000 in the income & expenditure account

₹12,000 in the receipt & payment account ₹10,000 in the income & expenditure account

The main sources of income of such organisations are: (i) subscriptions from members. (ill donations. (iii) gram-in-aid,etc .

The income and expenditure account lists both the revenue and capital receipts and payments (for past. current and future periods).

Final accounts for not-for-profit organisations comprise receipts and payment account: income and expenditure account; and balance sheet at the end of the year.

Not-for-profit organisations are organised as trusts/societies and have members, not owners.

Debit balance of ₹1,143

Debit balance of ₹1,235

Credit balance of ₹705

Credit balance of ₹1,189

Opening stock - Purchases - Closing stock + Direct expenses

Opening stock + Purchases - Closing stock + Direct expenses

Opening stock + Purchases - Closing stock - Direct expenses

Opening stock + Purchases + Closing stock + Direct expenses

only raw materials

raw materials and work in progress

work in progress and finished goods

only finished goods

Only (i) and {ii)

Only (ii)

(i), (ii) and (iii)

Only (i)

(i) - (a), (ii) - (b) , (iii) - (c)

(i) - (b), (ii) - (a) , (iii) - (c)

(i) - (c), (ii) - (b) , (iii) - (a)

(i) - (c), (ii) - (a) , (iii) - (b)

Carriage of ₹7,500 spent on machinery purchased and installed.

Wages paid to own employees for building the foremen's offices.

Materials pmchased for extension to foremen's offices in the facto1y.

Incurred expenditure of ₹25.000 on varied advertisement campaigns undertaken yearly, on a regular basis, during the peak festival season.