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Questions and Answers
Which head of account is associated with Gauge conversion?
Which head of account is associated with Gauge conversion?
- 1400 (correct)
- 4100
- 3200
- 5300
What is the purpose of Schedule H?
What is the purpose of Schedule H?
- To record the depreciation of assets
- To document major projects and their expenditures
- To summarize operational budgets
- To detail expenditures from the Contingency Fund (correct)
Which minor head is related to staff amenities?
Which minor head is related to staff amenities?
- 2100
- 5300 (ii) (correct)
- 6100
- 3500
What is the primary focus of Form A.740?
What is the primary focus of Form A.740?
Which expenditure category includes rolling stock?
Which expenditure category includes rolling stock?
What is the primary focus of the Capital Account?
What is the primary focus of the Capital Account?
Which of the following should NOT be shown in the Capital Account?
Which of the following should NOT be shown in the Capital Account?
What is the significance of the statement being prepared in Form A.710?
What is the significance of the statement being prepared in Form A.710?
In the Revenue Account, which type of expenses is generally included?
In the Revenue Account, which type of expenses is generally included?
According to the capital transaction requirements, the total should include which of the following?
According to the capital transaction requirements, the total should include which of the following?
What does the note about the Capital Account signify?
What does the note about the Capital Account signify?
Which item is likely to be included in the Revenue Account's expenses?
Which item is likely to be included in the Revenue Account's expenses?
What is the purpose of Form 715 in the context of earnings?
What is the purpose of Form 715 in the context of earnings?
Which statement is associated with outstanding earnings?
Which statement is associated with outstanding earnings?
What type of outstanding earnings are due from public companies according to the statement?
What type of outstanding earnings are due from public companies according to the statement?
Which category is NOT listed under the reasons for outstanding earnings?
Which category is NOT listed under the reasons for outstanding earnings?
What does Statement No. XV represent?
What does Statement No. XV represent?
What information is recorded in the column labeled 'Reasons for outstanding'?
What information is recorded in the column labeled 'Reasons for outstanding'?
In Form A-716, which of the following is NOT considered a category for outstanding earnings?
In Form A-716, which of the following is NOT considered a category for outstanding earnings?
What should be prepared for each Abstract of Revenue Working Expenses?
What should be prepared for each Abstract of Revenue Working Expenses?
Which item would typically appear under 'Sundries' in outstanding earnings?
Which item would typically appear under 'Sundries' in outstanding earnings?
What is the purpose of the Depreciation Reserve Fund?
What is the purpose of the Depreciation Reserve Fund?
What is the interest rate for the subsidy on pre-1964 capital?
What is the interest rate for the subsidy on pre-1964 capital?
Which line item is NOT included in the details of subsidy under specific heads?
Which line item is NOT included in the details of subsidy under specific heads?
What does T.W.F.A. stand for?
What does T.W.F.A. stand for?
Which statement outlines the accounts for Pension Fund and Accident Compensation?
Which statement outlines the accounts for Pension Fund and Accident Compensation?
What type of lines are defined as strategic lines in the context?
What type of lines are defined as strategic lines in the context?
Which form is used to prepare the statement for Depreciation Reserve Fund?
Which form is used to prepare the statement for Depreciation Reserve Fund?
What is the subsidy rate for new lines taken after April 1, 1955?
What is the subsidy rate for new lines taken after April 1, 1955?
What type of account is the Safety and Passenger Amenities Fund considered?
What type of account is the Safety and Passenger Amenities Fund considered?
What is one of the categories for capital outlay relating to the subsidy?
What is one of the categories for capital outlay relating to the subsidy?
What is the purpose of Form A. 732?
What is the purpose of Form A. 732?
Which minor head of expenditure falls under the Railway Board?
Which minor head of expenditure falls under the Railway Board?
Which of the following is NOT mentioned as a component of Research, Design and Standards Organisation expenditures?
Which of the following is NOT mentioned as a component of Research, Design and Standards Organisation expenditures?
What type of fund is mentioned in relation to accident compensations?
What type of fund is mentioned in relation to accident compensations?
What should be prepared on Form A. 733?
What should be prepared on Form A. 733?
Which of the following is listed under Miscellaneous Charges?
Which of the following is listed under Miscellaneous Charges?
What needs to be deducted from the Grand Total according to the document?
What needs to be deducted from the Grand Total according to the document?
What is the relationship between ‘amount met from Railway pension Fund’ and ‘Pensionary charges’?
What is the relationship between ‘amount met from Railway pension Fund’ and ‘Pensionary charges’?
Which of the following expenditures is associated with the Audit processes?
Which of the following expenditures is associated with the Audit processes?
What represents the net financial output after adjustments in the financial reporting?
What represents the net financial output after adjustments in the financial reporting?
Which statement best describes the purpose of Schedule A?
Which statement best describes the purpose of Schedule A?
What does Statement No. XIX primarily address?
What does Statement No. XIX primarily address?
Which of the following best characterizes the contents of Form A.740?
Which of the following best characterizes the contents of Form A.740?
Which item is included under the supplementary accounts category?
Which item is included under the supplementary accounts category?
In the context of capital accounts, which of the following statements is accurate?
In the context of capital accounts, which of the following statements is accurate?
What is the function of the Depreciation Reserve Fund within the annual accounts?
What is the function of the Depreciation Reserve Fund within the annual accounts?
Which of the following best explains the significance of Statement No. VIII?
Which of the following best explains the significance of Statement No. VIII?
What is included in the detail of transactions listed under 'Suspense balances affecting credit to Revenue'?
What is included in the detail of transactions listed under 'Suspense balances affecting credit to Revenue'?
Which of the following statements best describes the purpose of confirming the balances under the several Suspense heads?
Which of the following statements best describes the purpose of confirming the balances under the several Suspense heads?
What type of balance is likely to be impacted by the line item 'Increase/Decrease in suspense balances during the year'?
What type of balance is likely to be impacted by the line item 'Increase/Decrease in suspense balances during the year'?
What does the term 'Cash Government Total' encompass in the provided context?
What does the term 'Cash Government Total' encompass in the provided context?
Which statement accurately reflects the significance of the certified statement regarding the Finance Account?
Which statement accurately reflects the significance of the certified statement regarding the Finance Account?
What should be shown separately for both open lines and lines under construction in Schedule C?
What should be shown separately for both open lines and lines under construction in Schedule C?
What specific information is required in Schedule D regarding railway construction?
What specific information is required in Schedule D regarding railway construction?
What must be certified by the Financial Adviser and Chief Accounts Officers according to Schedule E?
What must be certified by the Financial Adviser and Chief Accounts Officers according to Schedule E?
Which of the following forms should be prepared for the Depreciation Reserve Fund?
Which of the following forms should be prepared for the Depreciation Reserve Fund?
What is the focus of the information detailed in Form A. 735?
What is the focus of the information detailed in Form A. 735?
What aspect of railway finances is highlighted in Schedule E?
What aspect of railway finances is highlighted in Schedule E?
What categorization does Schedule C require for the capital outlay?
What categorization does Schedule C require for the capital outlay?
What does Form A. 734 need to be prepared based on?
What does Form A. 734 need to be prepared based on?
In what situation is Form A. 736 necessary?
In what situation is Form A. 736 necessary?
Which statement is required to accompany Schedule E regarding finance accounts?
Which statement is required to accompany Schedule E regarding finance accounts?
What does the Capital Authorised statement primarily outline?
What does the Capital Authorised statement primarily outline?
Which of the following statements correctly describes the Accidental Compensation Fund?
Which of the following statements correctly describes the Accidental Compensation Fund?
Which statement is not part of the statements for the Revenue Account?
Which statement is not part of the statements for the Revenue Account?
What is the purpose of the Depreciation Reserve Fund Account?
What is the purpose of the Depreciation Reserve Fund Account?
Which statement requires preservation for ten years according to the noted guidelines?
Which statement requires preservation for ten years according to the noted guidelines?
What does Statement No. II provide relevant information about?
What does Statement No. II provide relevant information about?
Which type of account includes both the Pension Fund and compensation aspects?
Which type of account includes both the Pension Fund and compensation aspects?
Which statement does NOT reflect expenses charged under the Development Fund?
Which statement does NOT reflect expenses charged under the Development Fund?
What information is likely captured in the Statement showing capital-at-Charge?
What information is likely captured in the Statement showing capital-at-Charge?
Which of the following items directly contributes to the Pension Fund as indicated in the expenditure categories?
Which of the following items directly contributes to the Pension Fund as indicated in the expenditure categories?
What is included in the expenditures associated with the Research, Design and Standards Organisation?
What is included in the expenditures associated with the Research, Design and Standards Organisation?
Which of the following expenditures is NOT categorized within the Miscellaneous Establishments?
Which of the following expenditures is NOT categorized within the Miscellaneous Establishments?
Which minor head of expenditure must be prepared for each circle related to inspections?
Which minor head of expenditure must be prepared for each circle related to inspections?
For which of the following does the document suggest an appropriation to the Accident compensations fund?
For which of the following does the document suggest an appropriation to the Accident compensations fund?
What category is specifically excluded from being accounted for under the Railway pension Fund according to the expenditures listed?
What category is specifically excluded from being accounted for under the Railway pension Fund according to the expenditures listed?
Which type of costs is primarily associated with the payment of officers in the context of the Railway Board?
Which type of costs is primarily associated with the payment of officers in the context of the Railway Board?
Which of the following represents the total financial output related to surveys according to the outlined expenditures?
Which of the following represents the total financial output related to surveys according to the outlined expenditures?
What distinguishes the miscellaneous charges from total misc. charges as indicated in the section?
What distinguishes the miscellaneous charges from total misc. charges as indicated in the section?
What constitutes the overall expenditures in the context of inspection processes for each circle?
What constitutes the overall expenditures in the context of inspection processes for each circle?
Flashcards
Capital Account
Capital Account
A financial statement that tracks the capital transactions of a railway company from its beginning of operations to the year-end.
Expenditure incurred Upto 1963-64
Expenditure incurred Upto 1963-64
Detailed breakdown of all capital expenditures incurred by the railway, separated by time period and location. Shows how the money was spent.
Charge for Leave and Pension Allowances
Charge for Leave and Pension Allowances
A specific budget allocation for leave and pension allowances for employees.
Charge for Capitalisation of Abatement of Land Revenue
Charge for Capitalisation of Abatement of Land Revenue
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Revenue Account
Revenue Account
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Coaching Earnings
Coaching Earnings
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Goods Earnings
Goods Earnings
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Statement No. XIII - Detailed Accounts of Revenues Earnings
Statement No. XIII - Detailed Accounts of Revenues Earnings
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Statement No. XIV - Statement of Outstanding Earnings
Statement No. XIV - Statement of Outstanding Earnings
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Form A-716 - Statement No. XIV
Form A-716 - Statement No. XIV
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Statement No. XV - Net Revenue Account
Statement No. XV - Net Revenue Account
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Note on Abstract of Revenue Working Expenses
Note on Abstract of Revenue Working Expenses
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A Separate Statement for Each Abstract of 'Earnings'
A Separate Statement for Each Abstract of 'Earnings'
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Statement No. XIII - Detailed Accounts of Revenues Earnings for a Specific Railway
Statement No. XIII - Detailed Accounts of Revenues Earnings for a Specific Railway
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Statement No. XIV - Statement of Outstanding Earnings
Statement No. XIV - Statement of Outstanding Earnings
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Statement No. XV - Net Revenue Account for the ………….Railway
Statement No. XV - Net Revenue Account for the ………….Railway
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Depreciation Reserve Fund
Depreciation Reserve Fund
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Pension Fund
Pension Fund
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Accident Compensation, Safety and Passenger Amenities Fund
Accident Compensation, Safety and Passenger Amenities Fund
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Net Dividend Payable
Net Dividend Payable
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T.W.F.A.
T.W.F.A.
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Unremunerative Branch Line
Unremunerative Branch Line
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New Lines Taken Up on 01.04.1955 or Afterwards on Other Than Financial Considerations
New Lines Taken Up on 01.04.1955 or Afterwards on Other Than Financial Considerations
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Strategic Lines
Strategic Lines
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Non-Strategic Portion of N.F. Railway
Non-Strategic Portion of N.F. Railway
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National Investment
National Investment
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Schedule G-EXPENDITURE UNDER MAJOR HEAD 5002/5003 TRANSFERRED TO MAJOR HEAD 348 REVENUE OLWR BY MONOR HEADS OF CLASSIFICATION (PLAN HEADS) FOR THE YEAR ENDING
Schedule G-EXPENDITURE UNDER MAJOR HEAD 5002/5003 TRANSFERRED TO MAJOR HEAD 348 REVENUE OLWR BY MONOR HEADS OF CLASSIFICATION (PLAN HEADS) FOR THE YEAR ENDING
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Schedule H- EXPENDITURE FROM THE CONTINGENCY FUND
Schedule H- EXPENDITURE FROM THE CONTINGENCY FUND
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Detail of expenditure from the Contingency Fund
Detail of expenditure from the Contingency Fund
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Schedule J-EXPENDITURE UNDER MAJOR HEAD 5002/5003 MET FROM DEPRECIATION RESERVE FUND BY MINOR HEADS OF CLASIFICATION (PLAN HEADS) FOR THE YEAR ENDING
Schedule J-EXPENDITURE UNDER MAJOR HEAD 5002/5003 MET FROM DEPRECIATION RESERVE FUND BY MINOR HEADS OF CLASIFICATION (PLAN HEADS) FOR THE YEAR ENDING
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Detail of expenditure from the Depreciation Reserve Fund
Detail of expenditure from the Depreciation Reserve Fund
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Schedule B: Detailed Account of Expenditure
Schedule B: Detailed Account of Expenditure
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Outlay during the year
Outlay during the year
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Outlay to the end of the previous year
Outlay to the end of the previous year
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Outlay to the end of the year
Outlay to the end of the year
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Minor heads of expenditure
Minor heads of expenditure
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Railway Board
Railway Board
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Research, Design and Standards Organisation
Research, Design and Standards Organisation
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Audit
Audit
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Miscellaneous Establishments
Miscellaneous Establishments
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Grand Total
Grand Total
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Statement No. III - Capital Raised by Loans, Debentures, and Debenture Stock
Statement No. III - Capital Raised by Loans, Debentures, and Debenture Stock
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Statement No. IV - Receipts and Expenditure on Capital Account
Statement No. IV - Receipts and Expenditure on Capital Account
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Statement No. VII - Capital, Powers and Other Assets
Statement No. VII - Capital, Powers and Other Assets
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Capital Outlay Authorized
Capital Outlay Authorized
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Stock and Share Capital
Stock and Share Capital
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Detailed Accounts of Revenue Earnings
Detailed Accounts of Revenue Earnings
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Statement of Outstanding Earnings
Statement of Outstanding Earnings
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Net Revenue Account for the Year
Net Revenue Account for the Year
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Statement of Expenditure Charged to Revenue
Statement of Expenditure Charged to Revenue
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Statement of Expenditure Charged to Depreciation Reserve Fund
Statement of Expenditure Charged to Depreciation Reserve Fund
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Statement of Expenditure Charged to Accident Compensation, Safety, and Passenger Amenities Fund
Statement of Expenditure Charged to Accident Compensation, Safety, and Passenger Amenities Fund
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Statement of Expenditure Charged to Pension Fund
Statement of Expenditure Charged to Pension Fund
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Schedule J: Expenditure Under Major Head 5002/5003 Met From Depreciation Reserve Fund
Schedule J: Expenditure Under Major Head 5002/5003 Met From Depreciation Reserve Fund
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Schedule G: Expenditure Under Major Head 5002/5003 Transferred To Major Head 348
Schedule G: Expenditure Under Major Head 5002/5003 Transferred To Major Head 348
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Net Revenue Account
Net Revenue Account
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Statement No. IV
Statement No. IV
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Study Notes
Annual Accounts and Returns
- Introductory (701): Annual accounts are compiled after final accounts are submitted.
- Capital and Revenue Account (702): These accounts review railway finances as a commercial undertaking. They include details of capital expenditure, revenue expenditure, earnings, and working expenses.
- Capital Authorised (703): This statement details the authorized capital, including that raised through loans, debentures, and debenture stock.
- Capital Account, details (703-710): A series of statements detail capital received through different means, stocks, shares, etc.
- Receipts and Expenditure on Capital Account (706): The receipts and expenditure on capital account are detailed. These are only for worked lines
- Revenue Account (710-717): These statements summarize the distribution of earnings and proportional working expenses. Details of revenue, working expenses, and net revenue accounts are shown.
- Dividend Account (717): Details of dividend payments are recorded in this account.
- Depreciation, Pension, and Accident Compensation Funds (719): Expenditure related to these funds and associated accounts are tracked.
- Expenditure under Policy Formulation (719): Statement detailing expenditure related to formulated policies.
- Expenditure on Development Fund (721): Details of expenditure charged to the development fund.
- Expenditure on Open-Line Works Revenue (722): Statement of expenditures on open-line work revenues.
- Supplementary Accounts (725): Additional supplementary accounts are discussed.
- Finance Accounts (728): Definition, scope (e.g., Closed Surveys, Capital Expenditure), and date of submission (e.g., 15th September) of financial accounts are described.
- Schedule A – F Detailing Accounts (729-741): Additional information, schedules, and accompanying descriptions detailing accounts are listed. (Detailed financial information on various aspects of the railway system, shown in separate forms or schedules)
- Debt Head Report (748): Due date (e.g., 15th September) and analysis of balance data for debt reports are detailed.
- Annual Expenditure (753): Accounting and procedures for annual expenditure (e.g., Worked lines, construction) are detailed.
- Statements of Exchange (754): Statements related to currency exchange transactions are outlined.
- Statements showing Balance under Debt Heads (750): Descriptions of financial statements to account for outstanding balances are provided.
- Certificates regarding Accounts for the Year (727): Required certification statements for various accounts (e.g., Audit Certificate, Permanent Way, Rolling Stock) are listed.
- Statement Showing Balance under Debt Heads for the year ending 31st March (750): A statement shows the financial situation under debt accounting for a designated fiscal year.
- Appendix A detailing indirect charges (742): Provides information about indirect charges related to Capital and Revenue accounts, including those for pensionary charges or land revenue.
Additional Statements for Various Accounts
- Capital Outlay/Authorised (704): Details of capital funds creation to support lines and projects; information applies only to worked lines.
- Capital Raised (705): Information on loans, debentures, and debenture stocks; information applies only to worked lines.
- Details of Capital Expenditure (707): Detailed breakdown of capital expenditure for different types of lines (open for traffic or under construction).
- Estimates of Further Expenditure (708): Estimates of further capital expenditure for lines opened or under construction; specific instructions for preparing these estimates are included.
- Capital, Powers, and Assets (709): Summary of capital powers, and assets available for future expenditures, for worked lines.
- Revenue (710-717): Summarised distribution of earnings, and working expenses; for each revenue reporting category, the details are specified, like working expenses of rolling stock and equipment and fuel.
- Summary of Working Expenses (713): Summary of working expenses is detailed; separated by account like, for staff amenities, and welfare.
- Net Revenue Account (714): Statement summarizing net revenue; including calculations of dividends.
- Outstanding Earnings (715): Reporting on outstanding earnings; classified by categories.
Accounting Forms/Formats
- Forms A.703, A.704, A.705, A.706, etc.: Specific forms with detailed instructions for reporting various capital and revenue-related account statements. (Specific examples of formats for different accounts)
- Detailed statements relating to specific topics: Multiple statements exist to clarify areas of financial accounts (e.g., Capital Outlay, Receipts, and Expenditure)
Additional Information
- Appendices (various): Additional appendices in financial reports (e.g., Depreciation Reserve, Pension, Accident Compensation, Safety, or Passenger Amenities Fund, detailing specific categories of expenses); often accompanied by specific forms.
- Supplementary Accounts (725): Additional information to support the financial statements.
- Statements specific to closed surveys (733): Specific financial statements for closed survey work.
- Statements for capital expenditure outside revenue accounts (734): Financial statements focused on construction or related capital expenditure not included within the revenue accounts.
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Description
This quiz covers the key concepts of annual accounts and returns, including capital and revenue accounts, receipts and expenditures, and dividend payments. It provides insights into how railway finances are managed and reported. Test your understanding of financial facts presented in these accounts.
