Top 550+ Solved Corporate Accounting MCQ Questions Answer
Q. Activities that result in changes in the size and composition of the equity capital andborrowings of an entity are called
a. financing activities
b. operating activities
c. investing activities
d. none of these
Q. The principal revenue-producing activities of an entity are called
a. investing activities
b. operating activities
c. financing activities
d. none of these
Q. Cash payments to and on behalf of employees is an example of cash flows from
a. operating activities
b. financing activities
c. investing activities
d. none of these
Q. Which of the following is not a heading for cash flows under Ind AS 7?
a. cash flows from normal activities
b. cash flows from operating activities
c. cash flows from investing activities
d. cash flows from financing activities
Q. In the case of railway companies rent on leased lines is shown on
a. debit side of revenue A/c
b. credit side of revenue A/c
c. debit side of net revenue A/c
d. credit side of net revenue A/c
Q. The acquiree in a business combination is also called a….. company
a. subsidiary
b. parent
c. holding
d. controlling
Q. When 8,00,000 shares of Rs.10 each is converted in to 80,000 shares ofRs.100 each, it is a case of ………
a. sub division
b. capital reduction
c. consolidation
d. none
Q. Which of the following not the uses of share premium.
a. Issue of partly paid bonus shares
b. Issue of fully paid bonus shares
c. Write off preliminary expense
d. Write off expenses on the issue of shares.
Q. Once the share premium account is credited the same, if the premium is not received.
a. Cannot be debited
b. Cannot be credited
c. Can be debited
d. Can be credited
Q. Dividend declared between two Annual General Meetings.
a. Final dividend
b. Proposed dividend
c. Unclaimed dividend
d. Interim dividend
Q. Companies have a statutory obligation to prepare required by section 210 of the companies Act
a. Trading account
b. Profit and loss account
c. Balance sheet
d. Final accounts
Q. Banks show provision for income tax under the head
a. Contingency Account
b. Other liabilities
c. Contingent liabilities
d. None of these.
Q. Financial accounting is concerned with –
a. Recording of business expenses and revenue
b. Recording of costs of products and services
c. Recording of day to day business transactions
d. None of the above