Top 550+ Solved Corporate Accounting MCQ Questions Answer
Q. Alteration of shares of smaller amounts into shares of larger amount is called ……….
a. Subdivision of shares
b. Consolidation of shares
c. Cancellation of shares
d. None of these
Q. In case of consolidation of share capital, the total number of shares ………….
a. Increases
b. Decreases
c. Does not change
d. None of these
Q. Banking companies are governed in India by ……….
a. Banking Regulation Act
b. Indian Companies Act
c. Reserve Bank of India Act
d. All of these
Q. CRR stands for …………
a. Current Reserve Ratio
b. Capital Reserve Ratio
c. Cash Reserve Ratio
d. Capital Redemption Ratio
Q. SLR stands for ……………
a. Savings Level Ratio
b. Statutory Liquidity Ratio
c. Standard Liquidity Ratio
d. None of these
Q. The method of rapidly posting entries in the books of banks is called as ……….
a. Single Entry
b. Cash Method
c. Slip System
d. None of these
Q. The P&L A/c of Banking Companies are prepared as per ………….of Banking Regulation Act.
a. Form A of Schedule III
b. Form B of Schedule III
c. Form A of Schedule VI
d. Form B of Schedule VI
Q. Banks show the provision for income tax under the head ……….
a. Contingent liabilities
b. Deposits
c. Other liabilities and provisions
d. Borrowings
Q. Rebate on bills discounted is ………..
a. An income accrued but not received
b. A liability
c. An expense
d. Income received in advance
Q. Schedule 1 is concerned with ………….
a. Cash and balance with RBI
b. Capital
c. Reserves and Surplus
d. Investments
Q. ………… is shown under Schedule 15.
a. Interest earned
b. Profit
c. Interest Expended
d. Appropriations
Q. Acceptance, endorsements and other obligations come under the head…
a. Provisions and Contingencies
b. Contingent liabilities
c. Deposits
d. Borrowings
Q. Assets are NPAs for a period not exceeding 12 months are called ………….
a. Standard Assets
b. Substandard Assets
c. Doubtful Assets
d. Loss Assets