Top 550+ Solved Corporate Accounting MCQ Questions Answer
Q. The accounting concept that is principally used to classify leases intooperating and finance is…….
a. substance over from
b. prudence
c. neutrality
d. completeness
Q. Buy back of equity shares is a process of capital ……..
a. reduction
b. restructuring
c. control
d. none
Q. Assets are NPAs for a period exceeding 12 months are called ………….
a. Standard Assets
b. Substandard Assets
c. Doubtful Assets
d. Loss Assets
Q. ………is a form of agreement between two parties in which one partyagrees to make good for loss of another.
a. Contract
b. Insurance
c. Banking
d. Mutual fund
Q. The buy back of shares is also known as ……..
a. corporate redemption
b. corporate equity repurchase
c. corporate equity valuation
d. none
Q. Interest on debenture is ….
a. adjustment of profit
b. appropriation of profit
c. charge on profit
d. none
Q. After all the debentures are redeemed the balance in the sinking fund is transferred to
a. General reserve
b. statutory reserve
c. both A and B
d. none
Q. When own debentures are cancelled, any profit on cancellation is transferredto
a. general reserve
b. capital reserve
c. p&laccount
d. none
Q. Profit not available for dividend includes
a. CRR
b. P&L account credit balance
c. security premium
d. None
Q. All the …… profits are not available for the purpose of redemption ofpreference shares
a. revenue
b. capital
c. Both A and B
d. none
Q. The principle of subrogation is applicable to……………
a. Fire Insurance
b. Marine Insurance
c. Burglary Insurance
d. All of thes
Q. The shares firstly offered to the existing shareholders are called as …………
a. Right shares
b. Bonus shares
c. Ordinary shares
d. None of these
Q. The security premium account is shown in the balance sheetunder the head……….
a. Share capital
b. Reserves & Surplus
c. Secured loans
d. Current liabilit