Accounting · Double Account System
Under the Double Account System typically used by public utility undertakings, which of the following accounts are prepared instead of the standard Profit and Loss account? (i) Revenue Account (ii) Net Revenue Account (iii) Capital Account (Receipts and Expenditure on Capital Account) (iv) General Balance Sheet
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1Only (ii) and (iv)
- 2Only (i) and (ii)✓
- 3(i), (ii), (iii) and (iv)
- 4Only (i) and (iii)
Correct answer
Only (i) and (ii)
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