A cash credit account is also called Current account Debit account Running account None of these Stion 22 vet ered A valuation of balance sheet is prepared by: ed out of Life insurance company Banking company General insurance company Joint stock company g on Question 23 Not yet Calculate the source of funds from the given information answered Marked out of 1.00 Particulars OMR Particulars OMR P Flag question Share capital 230,000 Creditors 115,000 Profit for the year 95,000 Bank loan 65,000 Bank 55,000 Outstanding expenses 750 Source of Fun OMR 390,000 OMR 230,000 OMR 325,000 OMR 160,750 on 25 Sara accepted a bill of exchange from Sharooq for OMR6,000 at ed 2% for 2 months. After the due date, how much should she pay? out of None of these OMR 5,980 OMR 6,000 OMR 6,020 -n 26 The life insurance fund at the beginning of the year is OMR ed 2,300,000. During the year outstanding interest on investment is OMR 10,000, bonus in reduction of premium is OMR 8,000 and out of reinsurance claim recoverable is OMR 7,000. Find the closing balance of life insurance fund after making the adjustments. OMR 2,317,000 OMR 2,371,000 OMR 2,137,000 None of these gestion 27 ot yet Identify the correct statement: swered I Slip system ensures smooth flow of accounting. rked out of O II Subsidiary books are avoided as posting is done from slips. Flag stion Correct answ None of these Il only 1 and 11 Tonly Question 28 Not yet Modern commercial banks secondary service include: answered Marked out of 1.00 Deposits Cash credit Remittance of funds Loans P Flag