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Question-1
Spot out the odd one and state reason
(A)
General reserve
(B)
Work man compensation fund
(C)
Investment fluctuation fund
(D)
Profit prior incorporation
Question-2
Find out the odd one and state reason
(A)
To provide funds for known liability in future
(B)
To calculate the correct net profit
(C)
To find out the true financial position
(D)
Fulfilling some specific purpose
Question-3
When the reserve is invented in out side securities, it is known as ----------
(A)
Capital reserve
(B)
Secret reserve
(C)
Reserve fund
(D)
Provision
Question-4
Capital profits are used to write off the--------------- of the company
(A)
Revenue losses
(B)
Capital losses
(C)
None of these
(D)
Both of these
Question-5
General reserve is also called as--------------
(A)
Specific reserve
(B)
Dividend equalization reserve
(C)
Free reserve
(D)
Reserve fore replacement of assets
Question-6
Reserve shows excess of assets over----------
(A)
Profit
(B)
Receipts
(C)
Income
(D)
Liabilities
Question-7
------------ is shown under the head Reserves & surplus on the liability side of balance sheet
(A)
Reserve
(B)
Provision
(C)
Depreciation
(D)
Assets
Question-8
If any amount is set aside for a known liability of which the amount can be determined it is ----------
(A)
Provision
(B)
Reserves
(C)
Outstanding liability
(D)
None of these
Question-9
------------- cannot be utilized only for the purpose for which it is meant
(A)
Reserve
(B)
Provision
(C)
None of these
(D)
All of these
Question-10
------------ refers to the amount retained by way of providing for a definitely existing liability whose amount cannot be determined accurately
(A)
Provision
(B)
Reserve
(C)
Depreciation
(D)
Appreciation
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Practice in Related Chapters
Introduction Of Accounting
Concepts, Standards And Basis
Classification Of Accounts Under Double Entry System And Accounting Equation
Ledger
Trial Balance
Final Accounts Or (Financial Statements)
Journal
Sub-Division Of Journal : Cash Book
Sub-Division Of Journal : Specified purpose Subsidiary
Bank Reconciliation Statement
Rectification Of Errors
Capital And Revenue Expenditure/Income
Depreciation Accounting
Provisions And Reserves
Single Entry System : Accounts From Incomplete Records
Accounts of Non Trading Organization
Bills of Exchange
Introduction To The Use Of Computers In Accounting
Accounting concepts,standards and basis
Introduction to Accounting
Depreciation, Provision and Reserves
Trial Balance and Rectification of Errors
Depreciation, Provision and Reserves
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