Top 550+ Solved Corporate Accounting MCQ Questions Answer

From 31 to 45 of 596

Q. In the case of marine insurance reserve for unexpired risk is …..

a. 50%

b. 100%

c. 40%

d. none of these

  • b. 100%

Q. Valuation balance sheet is prepared by a life insurance company to find out

a. Profit or loss

b. financial position

c. surplus or deficiency

d. net liability

  • c. surplus or deficiency

Q. Insurance Regulatory and Development Authorities Act came in to effect in

a. 2001

b. 2004

c. 1999

d. none of these

  • c. 1999

Q. Bonus payable on maturity of the policy is termed as

a. cash bonus

b. capital bonus

c. reversionary bonus

d. none of these

  • c. reversionary bonus

Q. Insurance Act came in to effect in….,

a. 1956

b. 1972

c. 1938

d. none of these

  • c. 1938

Q. Legal expenses in respect of claims of an insurance company is shown in -----------

a. P&L a/c

b. Revenue a/c

c. Balance sheet

d. Surplus a/c

  • b. Revenue a/c

Q. Bonus in reduction of premium appears in the revenue a/c as ----------

a. an income

b. an expense

c. no where

d. profit

  • b. an expense

Q. ……………… is an artificial person created by law

a. Firm

b. Sole trader

c. Company

d. None of these

  • c. Company

Q. The liability of shareholders of a company is ………………..

a. Limited

b. Unlimited

c. Uncertain

d. None of these

  • a. Limited

Q. A company is managed by its…………….

a. Partners

b. Auditor

c. Board of Directors

d. Debenture holder

  • c. Board of Directors

Q. ………….company Is a company created by a special Act in Parliament

a. Government

b. Registered

c. Chartered

d. Statutory

  • d. Statutory

Q. A company registered with Registrar of Companies under Indian Companies Act is calledas………..

a. Government

b. Registered

c. Chartered

d. Statutory

  • b. Registered

Q. The company in which the liability of members is liable to pay the agreed amount at thetime of winding up is called as …………..

a. Unlimited Company

b. Company limited by shares

c. Company limited by guarantee

d. Liquidating Company

  • c. Company limited by guarantee

Q. A company in which the transferability of share is restricted is called as …………..

a. Government Company

b. Private Company

c. Public Company

d. Foreign Company

  • b. Private Company

Q. ……….is the first stage in the formation of a public company

a. Promotion

b. Incorporation

c. Capital Subscription

d. Commencement

  • a. Promotion
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