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Question-1
Which of them are recorded in the debit side of profit & loss Appropriation Account?
(A)
Interim Dividend
(B)
Balance of profit of the last year brought forward
(C)
Net profit of the current year
(D)
Transfer from such reserves which are in excess than normal requirements
Question-2
Dividend proposed by the directors is declared by shareholders at the annual general meeting. After the declaration the proposed dividend is termed as -----------------
(A)
Interim Dividend
(B)
Proposed Dividend
(C)
Final Dividend
(D)
Corporate Dividend
Question-3
Identify the current liabilities from the following items.
(A)
Bills receivable
(B)
Sundry debtors
(C)
Loans & Advances
(D)
Bills payable
Question-4
--------------------- is prepared in order to indicate the Financial position of the company as on the last data of the trading period.
(A)
Lost Accounting
(B)
Trading Account
(C)
Profit & Loss A/C
(D)
Balance Sheet
Question-5
Assets which are acquired for permanent use in the business and are not meant for resale are called________________.
(A)
Authorized capital
(B)
Issued capital
(C)
Fluctuating asset
(D)
Fixed asset
Question-6
Which one of the item appeared on the liabilities side of the Balance Sheet?
(A)
Authorized capital
(B)
Goodwill
(C)
Land
(D)
Buildings
Question-7
Which item are recorded in the debit side of profit & loss Appropriation A/C?
(A)
Balance of profit of the last year brought forward
(B)
Net profit of current year
(C)
Transfer from such reserves which are (i) excess than normal requirement
(D)
Net loss of the current year
Question-8
Every company must prepare Final accounts ----------------------- year.
(A)
Half Yearly
(B)
Quarterly
(C)
Two
(D)
Every
Question-9
Which of the items are recorded in the credit side of profit & Loss Appropriation Account?
(A)
Balance of loss of the last year brought forward (if any)
(B)
Net loss of the current year
(C)
Transfer to various reserve such as General reserve.
(D)
Balance of profits of the last year brought forward (if any)
Question-10
Which of them are recorded in the debit side of profit & loss Appropriation Account?
(A)
Transfer to various reserves such as General Reserve
(B)
Balance of profit of the last year brought forward
(C)
Net profit of the current year
(D)
Transfer from such reserves which are in excess than normal requirement
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Plus 2 Commerce
ICSE/ISC
Practice in Related Chapters
Partnership Accounts : Distribution of Profits
Goodwill - Concept and Mode its Valuation
Partnership Accounts : Admission of Partner
Capital Adjustment of Change of Profit Sharing Ratio
Admission of a Partner
Final Accounts of Companies
Joint Stock Company Accounts: Issue of Debentures
Cost Accounting An Introduction
Joint Venture Account
Sectional Balancing and Self Balancing System
Ratio Analysis
Cost Accounting Inventory Valuation
Cash Flow Statement
Cost Accounting Cost Sheet
Cash Flow Statement
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