Accountancy MCQ Questions with Answer part 3

Categories: MCQ Accountancy

Accountancy MCQ Questions with Answer part 3

 

Q1. The term current assets include:

  1. Stock
  2. Debtors
  3. Cash
  4. All of these

Answer: (d) 

 

Q2. Which of the following is not a part of financial statement of a company?

  1. Profit & Loss A/c
  2. Balance Sheet
  3. Ledger Account
  4. Cash Flow Statement

Answer: (c) 

 

Q3. Under which heading of Balance Sheet is general reserve shown:

  1. Miscellaneous Expenditure
  2. Share Capital
  3. Reserves & Surplus
  4. None of these

Answer: (c)

 

Q4. Current Assets on the Assets side of Balance Sheet of a Company includes:

  1. Sundry Debtors
  2. Cash in hand
  3. Stock
  4. All of these

Answer: (d) 

 

Q5. As per provisions of Companies Act, 2013 under which Section, the final accounts of a company is prepard :

  1. 128
  2. 210
  3. 129
  4. 212

Answer: (c)

 

Q6. According to which part of Schedule III of the Indian Companies Act, 2013, Indian companies have to prepare Balance Sheet:

  1. Part 1
  2. Part 2
  3. Part 3
  4. Part 4

Answer: (a) 

 

Q7. Balance sheet of companies is now prepared in :

  1. Horizontal Form
  2. Vertical Form
  3. Either (a) or (b) Form
  4. None of these

Answer: (b)

 

Q8. Goodwill of a company is shown on the assets side of the Balance Sheet under the head.

  1. Current Assets
  2. Non-current Assets
  3. Miscellaneous Expenditure
  4. None of these

Answer: (b)

 

Q9. The form of Balance Sheet as per Companies Act, 2013 is:

  1. Horizontal
  2. Horizontal or Vertical
  3. Vertical
  4. None of these

Answer: (c)

 

Q10. Which of the following assets is not shown undeer the head ‘Fixed Asset’ in the Balance Sheet?

  1. Goodwill
  2. Bills Receivable
  3. Buildings
  4. Vehicle

Answer: (b)

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