MCQGeeks
0 : 0 : 1
CBSE
JEE
NTSE
NEET
English
UK Quiz
Quiz
Driving Test
Practice
Games
CBSE
Class 12 Accountancy
Financial Statements Of A Company
Quiz 1
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
Which of the following is the element of financial statements?
0%
Balance Sheet
0%
Profit & Loss A/c
0%
Both (a) and (b)
0%
None of these
Explanation
Both (a) and (b)
Which of the following is not required to be prepared under the Companies Act:
0%
Statement of Profit & Loss
0%
Balance Sheet
0%
Anditor’s Report
0%
Fund Flow Statement
Explanation
Anditor’s Report
Equity ₹ 90,000 Liabilities ₹ 60,000 Profit of the year ₹ 20,Then total assets will be :
0%
₹ 1.70,000
0%
₹ 1,50,000
0%
₹1,10,000
0%
₹ 80,000
Explanation
₹ 1.70,000
The reserve which is created for a particular (specific) purpose and which is a charge against revenue is called:
0%
Capital Reserve
0%
General Reserve
0%
Secret Reserve
0%
Specific Reserve
Explanation
Specific Reserve
An Annual Report is issued by a company to its:
0%
Directors
0%
Authors
0%
Shareholders
0%
Management
Explanation
Shareholders
The profit and loss disclosed by the accounts of a company is:
0%
Transferred to share capital account
0%
Shown under the head of ‘Current liabilities’ and provisions
0%
Shown under the head ‘Reserves and Surplus
0%
None of these
Explanation
Shown under the head ‘Reserves and Surplus
The assets of a business can be classified as :
0%
Fixed and Non-fixed Assets
0%
Tangible and Intangible Assets
0%
Non-Current and Current Asset
0%
None of these
Explanation
Non-Current and Current Asset
The term financial statements includes :
0%
Statement of Profit & Loss
0%
Balance Sheet
0%
Statement of Profit & Loss and Balance Sheet
0%
None of these
Explanation
Statement of Profit & Loss and Balance Sheet
Balance Sheet is a :
0%
Account
0%
Statement
0%
Both (a) and (b)
0%
All the above
Explanation
Statement
Financial statements are the product of accounting process.
0%
First
0%
Second
0%
End
0%
None of these
Explanation
End
Financial statements disclose :
0%
Monetary information
0%
Qualitative information
0%
Non-monetary information
0%
All the above
Explanation
Monetary information
Statement of Profit & Loss is also called………:
0%
Operating Profit
0%
Balance Sheet
0%
Income Statement
0%
Trading Account
Explanation
Income Statement
Preliminary expenses are shown in the Balance Sheet under the head:
0%
Non-current assets
0%
Current assets
0%
Non-current liabilities
0%
Deducted from securities premium reserve
Explanation
Deducted from securities premium reserve
Debit Balance of Profit & Loss Statement will be shown on:
0%
Assets Side of Balance Sheet
0%
Liabilities Side of Balance Sheet
0%
Under the head Reserve & Surplus
0%
Under the head Reserves and Surplus as a negative item
Explanation
Under the head Reserves and Surplus as a negative item
Patents and copyrights fall under the category of:
0%
Current Assets
0%
Liquid Assets
0%
Intangible Assets
0%
None of these
Explanation
Intangible Assets
Goodwill falls under which category of assets:
0%
Current Assets
0%
Tangible Assets
0%
Intangible Assets
0%
None of the above
Explanation
Intangible Assets
Contingent Liabilities are exhibited under the heading:
0%
Fixed Liabilities
0%
Current Liabilities
0%
As a footnote
0%
None of these
Explanation
As a footnote
Provision for Provident Funds is shown in the Balance Sheet of a company under the head :
0%
Reserves and Surplus
0%
Non-current Liabilities
0%
Provision
0%
Contingent Liabilities
Explanation
Non-current Liabilities
Preliminary Expenses are shown in the Balance Sheet under which head ?
0%
Fixed Assets
0%
Reserves and Surplus
0%
Loans & Advances
0%
None of these
Explanation
None of these
Financial Statements are :
0%
Anticipated facts
0%
Recorded facts
0%
Estimated facts
0%
None of these
Explanation
Recorded facts
0 h : 0 m : 1 s
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
0
Answered
0
Not Answered
0
Not Visited
Correct : 0
Incorrect : 0
Report Question
×
What's an issue?
Question is wrong
Answer is wrong
Other Reason
Want to elaborate a bit more? (optional)
Support mcqgeeks.com by disabling your adblocker.
×
Please disable the adBlock and continue.
Thank you.
Reload page