Top 550+ Solved Corporate Accounting MCQ Questions Answer
Q. The principle of subrogation is applicable to……………
a. Fire Insurance
b. Marine Insurance
c. Burglary Insurance
d. All of the
Q. Capital redemption reserve and security premium can be utilised for issuing………bonus shares
a. fully paid
b. partly paid
c. fully paid or partly paid
d. none
Q. In case of buyback of shares by a listed company, the letter of offer to theshareholders shall be dispatched not earlier than –
a. 10 days from its submission to the SEBI in draft form
b. 15 days from its submission to the SEBI in draft form
c. 21 days from its submission to the SEBI in draft form
d. 30 days from its submission to the SEBI in draft form
Q. Under double account system, fixed assets are shown at…..
a. original cost
b. historical cost
c. future cost
d. none
Q. Own debenture account will appear on the …… side of B/S
a. Liability
b. asset
c. both side
d. none
Q. The most important income of a bank is
a. commission
b. interest
c. registration fee
d. locker rent
Q. Under Ind AS 103, assets and liabilities are recorded at
a. fair value
b. book value
c. intrinsic value
d. none
Q. When the directors refund the fees already received by them,……. a/c iscredited.
a. cash
b. Capital reduction
c. directors
d. fees
Q. In the case of marine hull insurance, reserve for unexpired risk is to bemaintained @....... %of net premium
a. 50%
b. 80%
c. 100%
d. 20%
Q. The cost of replacing an asset in its original condition is known as……
a. replacement cost
b. revaluation cost
c. revenue cost
d. reconstruction cost
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 Sch edule VI
d. Form B of Schedule VI
Q. …….. deals with separate financial statements.
a. Ind AS 110
b. Ind AS 100
c. Ind AS 112
d. Ind AS 120
Q. The pre- acquisition loss of subsidiary should be deducted from …….. whilecalculating net assets
a. share capital
b. equity share capital
c. debentures
d. none