Q1 : Rent paid OMR 650 was debited into cash a/c and credited into Rental expenses a/c. It is an error of A. Omission B.Principle C. Commission D.Compensation

Q2:

15) A hotel purchases an air-conditioning system for OMR 100,000 with an installation cost of OMR 15,000 on 1st October 2022 . The useful life of the air-conditioning system is 10 years and with a residual value of OMR 15,000 . Assume that the company uses straight-line method for calculating depreciation, the depreciation amount for Year 1 will be: A. OMR 10,000 B. OMR2,500 C. OMR 11,500 D. OMR 13,000