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 - 5
Question 1:Â
Prepaid Expenses appear in a Company’s Balance Sheet under the Sub-head _____________ .
(A) Other Current Assets
(B) Short-term Loans & Advances
(C) Intangible Assets
(D) Other Non-Current Assets
Correct Answer – (A)
Question 2:Â
Expenses allowed on issue of shares appears in a Company’s Balance Sheet under :
(A) Share Capital
(B) Current Liability
(C) Unamortized Expenditure
(D) Contingent Liability
Correct Answer – (C)
Question 3:Â
Goodwill appears in a Company’s Balance Sheet under the Sub-head _________________ .
(A) Unamortized Assets
(B) Non-Current Investment
(C) Intangible Assets
(D) Tangible Assets
Correct Answer – (C)
Question 4:Â
Short-term Borrowings appear in a Company’s Balance Sheet under the head ______________.
(A) Current Assets
(B) Current Liabilities
(C) Non-Current Liabilities
(D) Non-Current Assets
Correct Answer – (B)
Question 5:Â
Calls in Arrears appear in a Company’s Balance Sheet under _________________.
(A) Reserve & Surplus
(B) Shareholder’s Funds
(C) Contingent Liabilities
(D) Short-term Borrowings
Correct Answer – (B)
MCQ Questions Class 12 Financial Statements of a Company With Answers
Question 6:Â
Securities Premium Reserve appears in a Company’s Balance Sheet under :
(A) Share Capital
(B) Long-term Provision
(C) Short-term Provision
(D) Reserve & Surplus
Correct Answer – (D)
Question 7:Â
Share Forfeiture Account appears in a Company’s Balance Sheet under the Sub-head _______________.
(A) Share Capital
(B) Reserve & Surplus
(C) Contingent Liability
(D) Commitments
Correct Answer – (A)
Question 8:Â
Fixed Deposits appear in a Company’s Balance Sheet under :
(A) Current Assets
(B) Current Liabilities
(C) Long-term Provisions
(D) Long-term Borrowings
Correct Answer – (D)
Question 9:Â
Calls in advance appear in a Company’s Balance Sheet under _______________ .
(A) Share Capital
(B) Current Liability
(C) Long-term Borrowings
(D) Reserve & Surplus
Correct Answer – (B)
Question 10:Â
In a Company’s Balance Sheet _________________ appear under the head ‘non-current assets’.
(A) Goodwill
(B) Patents
(C) Vehicles
(D) All of the above
