Practice Test

Q1) At present, Electricity Companies are governed by Show Answer

Q2) Electricity tariffs are fixed Show Answer

Q3) Security deposit from electricity consumers Show Answer

Q4) Interest on Security deposit from electricity consumers Show Answer

Q5) Balance of Security deposit from electricity consumers Show Answer

Q6) Balance of Accrued Interest on Security deposit from electricity consumers Show Answer

Q7) Deposit for service line contribution cum development charges may be accounted for Show Answer

Q8) Grant received under APDRP of Ministry of Power is accounted for Show Answer

Q9) In case of Electricity Companies, depreciation is charged as per Show Answer

Q10) In case of Electricity Companies, depreciation is charged as per Show Answer

Q11) In case of additional capital expenditures by Electricity companies during the year, depreciation rates should be applied on Show Answer

Q12) Formats of financial statements of Electricity Companies are laid down in Show Answer

Q13) Balance Sheet of Electricity Company is presented in Show Answer

Q14) Fixed Assets are shown at cost in Show Answer

Q15) Premium on issue of securities is retained as Show Answer

Q16) Depreciation is shown as a depreciation in Show Answer

Q17) Depreciation on fixed asset is credited to Show Answer

Q18) Operating result is shown by Show Answer

Q19) Preliminary Expenses are treated as Show Answer

Q20) Under Double A/c system old asset continues to appear at Show Answer

Q21) Book value of old asset is w/off under Show Answer

Q22) The Electricity Act, 2013 has replaced Show Answer

Q23) The authorities under the Electricity Act 2003 are Show Answer

Q24) Security Deposit is credited to Show Answer

Q25) Customer’s contribution for service line is disclosed in the balance sheet under Show Answer

Q26) For Capital expenditure purposes investment component has Show Answer

Q27) In special category states 100% of the project cost is provided. Show Answer

Q28) Depreciation is provided as per Show Answer

Q29) Rates of depreciation are determined by Show Answer

Q30) Depreciation is provided as per Show Answer

Q31) Depreciation is charged on Show Answer

Q32) Salvage value of asset shall be at least Show Answer

Q33) Loan repayment period is Show Answer

Q34) Debt equity ratio for financing capital expenditure is Show Answer

Q35) Return on equity allowed is Show Answer

Q36) Under Double Account System P & L A/c is prepared. Show Answer

Q37) Sale of energy is credited to P & L A/c. Show Answer

Q38) Law Charges are debited to P & L A/c. Show Answer

Q39) Balance of P & L statement is carried to Balance Sheet. Show Answer

Q40) Net Revenue A/c represents P & L Appropriation A/c. Show Answer

Q41) Preliminary Expenses on formation are treated as other current assets. Show Answer

Q42) Depreciation is shown in the P & L statement. Show Answer

Q43) Rental of meter is shown P & L statement. Show Answer

Q44) Balance Sheet is presented in schedule III format. Show Answer

Q45) Under Single Account System book value of old asset is written off. Show Answer

Q46) Under Double Account System the abandoned asset is not written off. Show Answer

Q47) Old asset continues to appear in the Balance sheet at original cost under Double Account system. Show Answer