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Question-1
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-2
The account showing the disposal of profit is called --------------------.
(A)
Profit & Loss Account
(B)
Profit & loss Appropriation Account
(C)
Trading Account
(D)
Current Account
Question-3
--------------------- 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-4
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-5
Every company must prepare Final accounts ----------------------- year.
(A)
Half Yearly
(B)
Quarterly
(C)
Two
(D)
Every
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
Identify the items are recorded in the credit side of profit & loss Appropriation A/C from the following.
(A)
Balance of loss of the last year brought forward
(B)
Net loss of the current year
(C)
Transfer from such reserves which are in excess than normal requirements.
(D)
Interim dividend
Question-8
Proposed Dividend Exceeding 10% but not more than 12.5% of paid up capital then what will be the percentage of profits transferred to reserves.
(A)
2.5%
(B)
5%
(C)
7.5%
(D)
Nil
Question-9
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-10
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
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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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