Top 550+ Solved Corporate Accounting MCQ Questions Answer
Q. Revenue Account is also called ………….
a. Shareholders’ Account
b. Policyholders’ Account
c. Creditors’ Account
d. None of these
Q. Valuation balance sheet is prepared by ……………business.
a. Fire Insurance
b. Marine Insurance
c. Life Insurance
d. All of these
Q. The commission earned by insurance companies from others for giving them business underreinsurance is called …………………
a. Commission on reinsurance accepted
b. Agents’ commission
c. Commission on reinsurance ceded
d. None of these
Q. The commission given by insurance companies to others for receiving business underreinsurance is called …………………
a. Commission on reinsurance accepted
b. Agents’ commission
c. Commission on reinsurance ceded
d. None of these
Q. The principle of subrogation is applicable to……………
a. Fire Insurance
b. Marine Insurance
c. Burglary Insurance
d. All of these
Q. ……….is an agreement between two insurance companies whereby one transfers a part of risk to other.
a. Reinsurance
b. Sub insurance
c. Shared Policy
d. None of these
Q. The commission given by insurance companies to others for receiving business under reinsurance is called …………………
a. Commission on reinsurance accepted
b. Agents’ commission
c. Commission on reinsurance ceded
d. None of these
Q. When 4,000 equity shares of Rs.10 each is bought back at Rs.20 per share,the amount to be transferred to Capital Redemption Reserve is
a. 80,000
b. 40,000
c. 4,000
d. none
Q. A contract that evidences a residual interest in the assets of an undertakingafter deducting all its liabilities is called
a. bilateral contract
b. equity instrument
c. standard instrument
d. none
Q. Bonus shares can be issued only on getting approval of
a. articles of the company
b. board of directors
c. shareholders
d. all
Q. Unsecured debentures are otherwise known as……. Debentures
a. simple
b. mortgage
c. complex
d. none
Q. Ind AS 28 deal with……..
a. investments in association and joint ventures
b. investment in parent company
c. investment in subsidiary company
d. investment in foreign company