CBSE Class 12 Financial Statements of a Company Multiple Choice Questions with Answers. MCQ Questions Class 12 Financial Statements of a Company with Answers Is Prepared Based on Latest Exam Pattern. Students can solve NCERT MCQ questions Class 12 Financial Statements of a Company with Answers to know their preparation level.
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MCQ Questions Class 12 Financial Statements of a Company with Answers - Set - 4
Question 1:
According to prescribed order of assets in a Company’s Balance Sheet _________________ assets should be shown first of all.
(A) Non-Current Assets
(B) Current Assets
(C) Current Investments
(D) Loans and Advances
Correct Answer – (A)
Question 2:
As per Companies Act, the Balance Sheet of a company is required to be presented in ________________.
(A) Horizontal Form
(B) Vertical Form
(C) Either Horizontal or Vertical Form
(D) Neither ofthe above
Correct Answer – (B)
Question 3:
The prescribe from the Balance Sheet has given in the Schedule:
(a) VI Part I
(b) VI Part II
(c) III Part I
(d) VII Part IV
Correct Answer – (C)
Question 4:
Amount set aside to meet losses due to bad debts is called:
(a) Reserve
(b) Provision
(c) Liability
(d) None of these
Correct Answer – (B)
Question 5:
Debentures are shown in the Balance Sheet under the head of:
(a) Short-term Loan
(b) Secured Loan
(c) Current Liability
(d) Share Capital
Correct Answer – (B)
MCQ Questions Class 12 Financial Statements of a Company With Answers
Question 6:
Which of the following is not required to be prepared under the Companies Act
(A) Statement of Profit and Loss
(B) Balance Sheet
(C) Report of Director’s and Auditor’s
(D) Funds Flow Statement
Correct Answer – (D)
Question 7:
Share capital is shown in Balance Sheet under. the head ?
(a) Authorised Capital
(b) Issued Capital
(c) Paid-up Capital
(d) Shareholders’ Funds
Correct Answer – (D)
Question 8:
Which Section of the Companies Act, 2013 requires that the Balance Sheet to be prepared in prescribed form ?
(a) Section 128
(b) Section 130
(c) Section 129
(d) Section 212
Correct Answer – (C)
Question 9:
Divident is usually paid :
(a) On Authorised Capital
(b) On Ussued Capital
(c) On Paid-up Capital
(d) On Called-up Capital
Correct Answer – (C)
Question 10:
Securities Premium Account is shown on the liabilities side in the Balance Sheet Under heading
(a) Reserves and Surplus
(b) Current Liabilities and Provisions
(c) Share Capital
(d) Contingent Liabilities
