state gov Kerala (കേരളം) PSC Divisional Accountant Test Series 2025 Accountancy Self Balancing Ledger System
With respect to double account system, which one of the following statements is incorrect?
1
Normally, no adjustment is made to the asset in the capital account.
2
Debentures, shares and stocks are considered as capital goods.
3
Discount and premium are permanently treated as revenue items.
4
Depreciation is not deducted from the related asset but is shown as a liability through a fund.