Top 1000+ Solved Financial Accounting MCQ Questions Answer
Q. A charge created not on specific assets but generally on all assets is known as………….
a. Fixed charge
b. Floating charge
c. Mortgage
d. None of these
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. Discount or loss on issue of debenture is a ………….
a. Capital Profit
b. Revenue Receipt
c. Capital Loss
d. Revenue Expense
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