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Question-1
Dividend proposed by the directors whether for preference shares or equity shares is termed as --------------------
(A)
Interim dividend
(B)
Proposed Dividend
(C)
Final Dividend
(D)
Corporate Dividend
Question-2
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-3
Every company must prepare Final accounts ----------------------- year.
(A)
Half Yearly
(B)
Quarterly
(C)
Two
(D)
Every
Question-4
Which of them are recorded in the debit side of profit & loss Appropriation Account?
(A)
Balance of profit of the last year brought forward
(B)
Balance of loss of the last year brought forward
(C)
Net profit of current years
(D)
Transfer from such reserves which are in excess than normal requirement.
Question-5
At every annual general meeting of a company the Board of Directors of the company shall lay before the _________ for their approval.
(A)
Government
(B)
Debenture holder
(C)
Brokers
(D)
Share holder
Question-6
--------------------- 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-7
If loans have not been taken on the security of any asset of the company, such loans are called -----------------.
(A)
Unsecured loan
(B)
Loans and Advances
(C)
Secured loans
(D)
Current Asset
Question-8
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-9
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-10
The account showing the disposal of profit is called --------------------.
(A)
Profit & Loss Account
(B)
Profit & loss Appropriation Account
(C)
Trading Account
(D)
Current Account
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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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