Top 150+ Solved Advance Accounting MCQ Questions Answer
Q. Banking companies in India are governed by …………………..
a. As per act 1932
b. Income Tax act
c. AS-23
d. Banking Regulation Act 1949
Q. An assets becomes non performing when it to generate income for bank.
a. lease
b. ceases
c. computerized
d. easy.
Q. Banks are to recognize their income on…………….basis in respect ofincome on performing asset.
a. Accrual
b. cash
c. credit
d. none.
Q. Banks are to recognize their income on……………… basis in respect ofincome on non performing asset.
a. Accrual
b. cash
c. credit
d. none.
Q. Sub standard asset are certain loan asset of a bank which are classified as………….assets for a period not exceeding two year.
a. non –performing
b. performing
c. Current
d. Fluctuating.
Q. The main function of………………company are accepts deposits money
a. Private
b. Public
c. Banking
d. Capital marketing
Q. …………….asset is one which has been classified as non-performing asset forperiod not exceeding than………….years
a. Fixed – 13
b. Fluctuating – 11
c. Intangible – 1
d. Substandard – 2
Q. Every banking company should prepare a balance sheet and profit and lossaccounts as on……………..each year.
a. 31st March
b. 31st July
c. 31st December
d. None
Q. Banking Companies in India are governed by Banking Regulation act 1952.
a. true
b. false
c. may be true
d. ma be false
Q. The main function of a banking company are to accept deposits of moneyfrom the public and to lend or invest these deposits.
a. true
b. false
c. only true
d. ma be false
Q. Non-Banking Assets must be shown in the Balance Sheet in scheduled 8.
a. true
b. may be false
c. may be true
d. false
Q. Acceptance, Endorsements and other obligations are a contingent liability of bank.
a. True
b. False
c. May be false
d. May be true
Q. Rebate of Bills discounted is an income received in advanced which is carried forward as other liability.
a. true
b. false
c. may be true
d. only true