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MCQs for Financial Statements of Companies
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MCQs for Financial Statements of Companies
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25 Questions

1. While preparing the Balance Sheet of a company ‘Underwriting Commission’ is shown under which head?
2. Prepaid Expenses appear in a Company’s Balance Sheet under the Sub-head ............
3. Which of the following items is shown under the head ‘Current Liabilities’ while preparing the Balance Sheet of a company?
4. Provision for Tax appears in a Company’s Balance Sheet under the Sub-head ................
5. 6% Debentures appear in a Company’s Balance Sheet under the Sub-head ...............
6. ‘Claims against the Company not acknowledged as debts’ is shown under the head .............
7. Expenses allowed on issue of shares appears in a Company’s Balance Sheet under :
8. Share Capital of a Company consists of 5,00,000 Shares of ₹10 each, ₹8 called up. All the shareholders have duly paid the called up amount. Share capital will be shown as :
9. ‘Accumulated Dividend Arrears’ on preference shares is shown in the Company’s Balance Sheet as :
10. While preparing the Balance Sheet of a company ‘Securities Premium’ is shown under :
11. Unclaimed dividend appears in a Company’s balance Sheet under the Sub-head ............
12. Interest accrued on Investments appear in a Company’s Balance Sheet under the Sub-head ...............
13. Short-term Borrowings appear in a Company’s Balance Sheet under the head ................
14. Share Forfeiture Account appears in a Company’s Balance Sheet under the Sub-head .............
15. Interest accrued but not due on loans appear in a Company’s Balance Sheet under the Sub-head ............
16. Bills Receivables appear in a Company’s Balance Sheet under the Sub-head ..................
17. While preparing the Balance Sheet of a Company which item is shown under the head ‘Long term Borrowings’?
18. Which one of the following is Commitment?
19. Fixed Deposits appear in a Company’s Balance Sheet under :
20. Trade Investments appear in a Company’s Balance Sheet under the Sub-head ...............
21. Which of the following items is shown under the head ‘Non-Current Assets’ while preparing the Balance Sheet of a company?
22. Change in Inventories means :
23. Securities Premium Reserve appears in a Company’s Balance Sheet under :
24. Which one of the following items is shown under the heading ‘current liabilities’ in the Balance Sheet of a company?
25. Under which heading the item ‘Bills Discounted but not yet matured’ will be shown in the Balance Sheet of a company?

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