Top 50+ Solved Final Accounts Of Cooperative Societies MCQ Questions Answer
Q. A society which as proclaimed as its objective the………….of economic interestof its member
a. Promotion
b. Demotion
c. Recession
d. none of these
Q. The word………..Is working together for common purpose.
a. Co-operation
b. co-education
c. Interest
d. enactment
Q. All sums of…………….received and expended by the Society and the matters inrespect of which receipts and expenditure take place.
a. Money
b. Profit
c. Interest
d. Income
Q. Managing committee of every Society shall prepare annual statement ofaccounts within…………… days.
a. 42
b. 45
c. 2 yrs.
d. 48
Q. Transactions involving receipt in……………..are recorded on receipt side of cashbook.
a. Cash
b. Profit
c. Interest
d. loss
Q. Interest paid and payable comes to the……………side of the profit and lossaccount.
a. Expenditure
b. Receipt
c. Interest
d. income
Q. Dividend received on shares is comes to the……………. side of profit and lossaccount.
a. Income
b. Profit
c. Interest
d. loss
Q. The investment on hand at the end of the period are valued at cost price ormarket whichever is …………
a. Less
b. included
c. Addd
d. excluded
Q. …………….is mentioned in the balance sheet as foot note.
a. Contingent liability
b. preliminary expenses
c. debtors
d. closing stock
Q. …………….fund is for the purpose of construction of building for the business ofthe Society.
a. building fund
b. Reserve fund
c. Education Fund
d. Loans and advances
Q. The………………Fund cannot be utilized for payment of dividend as bonus.
a. building fund
b. Reserve fund
c. Education Fund
d. Loans and advances
Q. A co-operative Society may createout of its net profit for payment of bonus toperson who are not its members.
a. bonus equalization fund
b. Reserve fund
c. Education Fund
d. Loans and advances