7-Musanah City has established an agency fund to account for employees share of health insurance benefits. During the year 2019, total of OMR 4,000 was deducted from the employees pay cheques, and OMR 2,100 was paid to the insurance company in 2020. The remaining will be paid to the insurance company in the first quarter of 2020. The amount due to insurance company and the cash balance in the Agency fund will be:

a. Cash balance is RO 1,900 and due to insurance company is RO 1,900

b. Cash balance is RO 4,000 and due to insurance company is RO 4,000

c. Cash balance is RO 2,100 and due to insurance company is RO 2,100

d. Cash balance is RO 1,900 and due to insurance company is RO 4,000

8-Which among the following data reports the accomplishments of a government college?

a. All the options listed

b. Test scores

c. Graduation rates

d. Number of drop outs from the college

12-Which among the following is not true about Receipts and payments account?

a. It records all capital and revenue items

b. Receipts and payments account is a summary of cash book

c. The difference between two sides of Receipts and Payments account represents the cash balance at the end

d. Receipts and payments account is part of double entry