Corporate Accounting Set 13

Bachelor of Business Administration (BBA),

Bachelor of Commerce (B Com)

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This set of Corporate Accounting Multiple Choice Questions & Answers (MCQs) focuses on Corporate Accounting Set 13

Q1 | …………..debentures can be transferred only with the knowledge of the company.
  • Naked
  • Mortgage
  • Registered
  • Bearer
Answer: Registered
Q2 | ………..debentures are transferable by mere delivery
  • Naked
  • Mortgage
  • Registered
  • Bearer
Answer: Bearer
Q3 | …………debentures are secured by the assets of the company
  • Naked
  • Mortgage
  • Registered
  • Bearer
Answer: Mortgage
Q4 | Unsecured debentures are called as ……………….debentures
  • Naked
  • Mortgage
  • Registered
  • Bearer
Answer: Naked
Q5 | FCD stands for ……………
  • Fixed Charge Debentures
  • Floating Charge Debentures
  • Fully Convertible Debentures
  • None of these
Answer: Fully Convertible Debentures
Q6 | When debentures are issued as a consideration of purchase of assets …………. Is debited.
  • Debenture Account
  • Cash Account
  • Assets Account
  • Creditor Account
Answer: Assets Account
Q7 | Discount or loss on issue of debenture is a ………….
  • Capital Profit
  • Revenue Receipt
  • Capital Loss
  • Revenue Expense
Answer: Capital Loss
Q8 | Discount or loss on issue of debenture is shown in the balance sheet under the head ……..
  • Reserves & Surplus
  • Secured loans
  • Current liabilities
  • Miscellaneous expenditure
Answer: Miscellaneous expenditure
Q9 | Debentures can be redeemed out of ……….
  • Fresh issue
  • Capital
  • Profit
  • All of these
Answer: All of these
Q10 | Interest on debenture is ……….
  • Adjustment of profit
  • Appropriation of Profit.
  • Charge on profit
  • None of these
Answer: Charge on profit
Q11 | Debentures are shown in the balance sheet under the head ………..
  • Secured loans
  • Unsecured loans
  • Provisions
  • Current liabilities
Answer: Secured loans
Q12 | After realizing all the investments, the balance in the sinking fund account is transferred to…………
  • Profit and Loss A/c
  • Debenture Account
  • Sinking fund A/c
  • Capital reserve
Answer: Capital reserve
Q13 | When own debentures are cancelled, any profit on cancellation is transferred to ……..
  • General Reserve
  • Capital Reserve
  • Profit and Loss A/c
  • Debenture A/c
Answer: Capital Reserve
Q14 | If the purchase price of debentures includes interest for the expired period, the quotation issaid to be …………..
  • Ex‐interest
  • Cum‐interest
  • Co‐interest
  • None of these
Answer: Cum‐interest
Q15 | If the purchase price of debentures excluding interest for the expired period, the quotationis said to be …………..
  • Ex‐interest
  • Cum‐interest
  • Co‐interest
  • None of these.
Answer: Ex‐interest
Q16 | As per ………..it is the statutory obligation of companies to prepare their final accounts.
  • Sec 210
  • Sec 211
  • Sec 212
  • Sec 214
Answer: Sec 210
Q17 | The Balance sheet of Companies are prepare in the form ……….
  • Part I of Schedule V
  • Part I of Schedule VI
  • Part II of Schedule V
  • Part II of Schedule VI
Answer: Part I of Schedule VI
Q18 | The Profit and Loss Account of companies is prepared in the form ………….
  • Part I of Schedule V
  • Part I of Schedule VI
  • Part II of Schedule V
  • Part II of Schedule VI
Answer: Part II of Schedule VI
Q19 | The dividend declared between two annual general meeting is called ……….
  • Proposed Dividend
  • Final Dividend
  • Interim Dividend
  • None of these
Answer: Interim Dividend
Q20 | The net profit available for dividend distribution is called …………
  • Net Profit
  • Surplus
  • Divisible Profit
  • Capital Profit
Answer: Divisible Profit
Q21 | Dividend in the form of shares is called ………..
  • Interim Dividend
  • Scrip Dividend
  • Final Dividend
  • None of these
Answer: Scrip Dividend
Q22 | ………is the dividend declared in the annual general meeting of shareholders.
  • Proposed Dividend
  • Final Dividend
  • Interim Dividend
  • None of these
Answer: Final Dividend
Q23 | The dividend recommended by the Board of Directors is called………
  • Proposed Dividend
  • Final Dividend
  • Interim Dividend
  • None of these
Answer: Proposed Dividend
Q24 | Unclaimed dividend is shown in the balance sheet under the head ……..
  • Reserves and Surplus
  • Current Liabilities
  • Loans and Advances
  • Current Assets
Answer: Current Liabilities
Q25 | ……..is a charge against profit of the company
  • Provision
  • Reserves
  • Surplus
  • All of these
Answer: Provision
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