Top 150+ Solved Special Accounting MCQ Questions Answer
Q. ………………… in India is largely governed by the Banking Regulation Act 1949 .
a. Insurance busines
b. Banking business
c. Joint stock company
d. Co-operative society
Q. Banking business in India is governed by the ……………….. Act.
a. Partnership
b. Company
c. Insurance
d. Banking regulations
Q. A banking company should transfer 25% of its profit to a …………….
a. General Reserve
b. Capital Reserve
c. Statutory Reserve
d. Reserve fund
Q. Money at call and short notice is an ……………… of the banking company.
a. Liability
b. Asset
c. Income
d. Expense
Q. A demand loan is payable on ……………………………………..
a. Demand
b. At any time
c. after one yea
d. after six months
Q. Banks shown provision for income tax under the head ……………….
a. Other liabilitie
b. Contingent liabilities
c. Other liabilities and provisions
d. None of these
Q. No profit and loss appropriation account is prepared in case of a…………… company.
a. Co – operative society
b. Partnership
c. Banking company
d. None of these
Q. Banks are required to prepare final accounts for each ……….. year
a. Financial
b. Calendar
c. Previous
d. None of these
Q. A banking company required to prepare its profit & loss account according to ……………………… of the III schedule of the Banking Regulations Act.
a. Form A
b. Form B
c. Form C
d. Form D
Q. Rebate on bills discounted is shown on the liability side of the ……….
a. Profit & loss a/c
b. Income statement
c. Balance sheet
d. None of these
Q. Revenue reserve means any reserve other than ……………. Reserve
a. General
b. Capital
c. Other reserve
d. None of these
Q. A …………. Company required to prepare its balance sheet according To form A in the III schedule of the Banking Regulation Act
a. Insurance company
b. Joint stock company
c. Banking companies
d. None of the above
Q. A banking company required to prepare its ……………. According to Form B in the III schedule of the Banking Regulations Act
a. Balance sheet
b. Profit & loss appropriations account
c. Profit & loss account
d. Position statement