Top 550+ Solved Corporate Accounting MCQ Questions Answer
Q. …………..debentures can be transferred only with the knowledge of the company.
a. Naked
b. Mortgage
c. Registered
d. Bearer
Q. …………debentures are secured by the assets of the company
a. Naked
b. Mortgage
c. Registered
d. Bearer
Q. Unsecured debentures are called as ……………….debentures
a. Naked
b. Mortgage
c. Registered
d. Bearer
Q. FCD stands for ……………
a. Fixed Charge Debentures
b. Floating Charge Debentures
c. Fully Convertible Debentures
d. None of these
Q. When debentures are issued as a consideration of purchase of assets …………. Is debited.
a. Debenture Account
b. Cash Account
c. Assets Account
d. Creditor Account
Q. Discount or loss on issue of debenture is a ………….
a. Capital Profit
b. Revenue Receipt
c. Capital Loss
d. Revenue Expense
Q. Discount or loss on issue of debenture is shown in the balance sheet under the head ……..
a. Reserves & Surplus
b. Secured loans
c. Current liabilities
d. Miscellaneous expenditure
Q. Interest on debenture is ……….
a. Adjustment of profit
b. Appropriation of Profit.
c. Charge on profit
d. None of these
Q. Debentures are shown in the balance sheet under the head ………..
a. Secured loans
b. Unsecured loans
c. Provisions
d. Current liabilities
Q. After realizing all the investments, the balance in the sinking fund account is transferred to…………
a. Profit and Loss A/c
b. Debenture Account
c. Sinking fund A/c
d. Capital reserve
Q. When own debentures are cancelled, any profit on cancellation is transferred to ……..
a. General Reserve
b. Capital Reserve
c. Profit and Loss A/c
d. Debenture A/c
Q. As per ………..it is the statutory obligation of companies to prepare their final accounts.
a. Sec 210
b. Sec 211
c. Sec 212
d. Sec 214
Q. The Balance sheet of Companies are prepare in the form ……….
a. Part I of Schedule V
b. Part I of Schedule VI
c. Part II of Schedule V
d. Part II of Schedule VI