Top 550+ Solved Corporate Accounting MCQ Questions Answer
Q. The Profit and Loss Account of companies is prepared 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
Q. The dividend declared between two annual general meeting is called ……….
a. Proposed Dividend
b. Final Dividend
c. Interim Dividend
d. None of these
Q. The net profit available for dividend distribution is called …………
a. Net Profit
b. Surplus
c. Divisible Profit
d. Capital Profit
Q. Dividend in the form of shares is called ………..
a. Interim Dividend
b. Scrip Dividend
c. Final Dividend
d. None of these
Q. ………is the dividend declared in the annual general meeting of shareholders.
a. Proposed Dividend
b. Final Dividend
c. Interim Dividend
d. None of these
Q. The dividend recommended by the Board of Directors is called………
a. Proposed Dividend
b. Final Dividend
c. Interim Dividend
d. None of these
Q. Unclaimed dividend is shown in the balance sheet under the head ……..
a. Reserves and Surplus
b. Current Liabilities
c. Loans and Advances
d. Current Assets
Q. ……..is a charge against profit of the company
a. Provision
b. Reserves
c. Surplus
d. All of these
Q. CDT stands for….
a. Company Direct Tax
b. Corporate Dividend Tax
c. Combined Direct Tax
d. None of these
Q. An item which may or may not be the liability of the company due to happening of certainevent is…………
a. Current Liability
b. Fixed Liability
c. Contingent Liabilit
d. None of these
Q. Advance tax paid is shown in the balance sheet under the head……….
a. Current Liabilities
b. Loans and Advances
c. Fixed Assets
d. None of these
Q. Preliminary expenses not written off are shown in the balance sheet under the head…
a. Current Assets
b. Investments
c. Current Liabilities
d. Miscellaneous Expenditure
Q. In ……………, a new company is formed to take over the business of two or more existingcompanies which go into liquidation
a. Amalgamation
b. External reconstruction
c. Absorption
d. Internal reconstruction