Top 1000+ Solved Financial Accounting MCQ Questions Answer
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
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 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. 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 Liability
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. Which of the following is not a statutory reserve?
a. General reserve
b. Development rebate reserve
c. Investment allowance reserve
d. Workmen compensation fund
Q. Realisation Account is a …………..
a. Real Account
b. Personal Account
c. Nominal Account
d. Suspense Account
Q. Banking companies are governed in India by ……….
a. Banking Regulation Act
b. Indian Companies Act
c. Reserve Bank of India Act
d. All of these
Q. CRR stands for …………
a. Current Reserve Ratio
b. Capital Reserve Ratio
c. Cash Reserve Ratio
d. Capital Redemption Ratio
Q. SLR stands for ……………
a. Savings Level Ratio
b. Statutory Liquidity Ratio
c. Standard Liquidity Ratio
d. None of these