Top 50+ Solved Final Accounts and Banking Companies MCQ Questions Answer
From 1 to 11 of 11
Q. Every banking company should prepare a balance sheet and profit and lossaccounts as on……………..each year.
a. 31st March
b. 31st July
c. 31st December
d. None
Q. Banking Companies in India are governed by Banking Regulation act 1952.
a. true
b. false
c. may be true
d. ma be false
Q. The main function of a banking company are to accept deposits of moneyfrom the public and to lend or invest these deposits.
a. true
b. false
c. only true
d. ma be false
Q. Non-Banking Assets must be shown in the Balance Sheet in scheduled 8.
a. true
b. may be false
c. may be true
d. false
Q. Acceptance, Endorsements and other obligations are a contingent liability of bank.
a. True
b. False
c. May be false
d. May be true
Q. Rebate of Bills discounted is an income received in advanced which is carried forward as other liability.
a. true
b. false
c. may be true
d. only true
Q. Transfer of money from one place to another i.e. mail transfer is an item to be excluded from bills payable.
a. True
b. False
c. May be false
d. May be true
Q. An assets become non-performing when it ceases to generate income for a Bank.
a. True
b. False
c. May be false
d. May be true
Q. Banks are to recognize their income on cash basis in respect of income on performing assets.
a. true
b. false
c. may be true
d. may be false
Q. Sub-standard assets is one which has been classified as non performing asset for a period not exceeding three years.
a. true
b. false
c. may be true
d. only true
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