In order to keep on the transaction account only the income that can be spent on fortnightly items, one should transfer to other accounts the money intended for ______________.You can select more than one answer.A.petrol for the carB.groceries and take awaysC. retirementD. future expensive durable goodsE.future holidays

Consider money is transferred from (1)account-A to account-B and (2) account-B to account-C and (3)account-C to account-A. Which of the following form a transaction

Current AccountWhich of the following would not appear under the current account in the balance of payments?Export and import of servicesExport and import of goodsCapital payments

Select the spending item(s) that are assets.You can select more than one answer.A.CarB.RentC.Insurance billD.Dinner outE.DeskF.Petrol

Multiple Choice QuestionThe capital account and financial account sections of the balance-of-payments statement summarizes which of the following?Multiple choice question.International asset transactionsInternational service transactionsInternational currency exchange ratesInternational loan guarantees

Which of the following statements relating to an asset revaluation surplus ...Which of the following statements relating to an asset revaluation surplus account is correct?Question 2Answera.An entity is able to use this surplus for the payment of future dividends.b.An entity can transfer the surplus to current period profit or loss when the asset is disposed of.c.An entity is not able to use this surplus for the payment of future dividends.d.An entity is not able to transfer this surplus to any other reserve account.