Notes, Exercises, Videos, Tests and Things to Remember on Security Deposit, Loan and Budget Transfer
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Security deposit is concerned with the amount deposited by a contractor or supplier against the tender of supplying goods and services. Generally, 5% of the contract amount is required to be deposited as security deposit by the contractor. Such deposit will be refunded after the completion of the concerned job. The journal vouchers relating to security deposit are as follows:
The government office can receive a loan from other offices. It can also provide a loan to other offices by taking the approval from the treasury and comptroller's office. The journal vouchers for receiving and granting loans are as follows:
The budget transfer is the act of transferring an amount from one budget head to another. Sometimes, there may be a shortage of budget in one budget head and a surplus in another budget head. The surplus amount of the budget can be transferred with the permission of the Ministry of Finance in another budget head. The budget transfer is of two types:
Generally, ______ of the contract amount is required to be deposited as security deposit by the contractor.
______ is the act of transferring an amount from one budget head to another.
The surplus amount of the budget can be transferred with the permission of the ______ in another budget head.
Ministry of Sport
Office of the Auditor General
Ministry of Education
Ministry of Finance
If the budget head is transferred from one office to another office, then it is called ______.
intra-office budget transfer
inter-office budget transfer