Top 550+ Solved Corporate Accounting MCQ Questions Answer
Q. Internal reconstruction can be done by ----------
a. Alteration of share capital
b. reduction of share capital
c. issue of share capital
d. all of these
Q. Which of the following is not a case of combination?
a. external reconstruction
b. internal reconstruction
c. amalgamation
d. absorption
Q. The term banking is defined in section ….
a. section 5 of banking regulation Act
b. section 4
c. section 7
d. none of these
Q. A bank can open a branch only at the permission of the…
a. SBI
b. RBI
c. Government.
d. none of these
Q. Schedule 16 relates to….
a. interest earned
b. interest expended
c. operating expenses
d. none of these
Q. Banks are required to transfer ….. of their profits to statutory reserve
a. 20%
b. 25%
c. 10%
d. none of these
Q. Assets acquired by a bank in satisfaction of a claim are known as…
a. non-banking assets
b. performing assets
c. standard assets
d. none of these
Q. Assets which do not carry more than normal credit risk is known as….
a. loss asset
b. risk asset
c. standard asset
d. none of these
Q. ------ represents that part of discount received during the year by a bank whichrelates to the next accounting year.
a. trade discount
b. normal discount
c. unexpired discount
d. cash discount
Q. A scheduled bank is required to maintain with RBI --------- at a prescribedpercentage of their total time and demand deposit.
a. SLR
b. CRR
c. statutory reserve
d. branch adjustment
Q. Every bank is required to maintain ----- with RBI in the form of cash, gold andsecurities an amount not less than 25% of their demand and time liabilities.
a. CRR
b. SLR
c. statutory reserve
d. branch adjustment
Q. Which of the following is not an advance given by a bank?
a. loan
b. overdraft
c. deposit
d. cash credit
Q. ------ is a liability which may or may not arise in future depending on happening ofsome uncertain future event.
a. contingent liability
b. bills for collection
c. non-banking liability
d. bills payable