Every banking company should prepare a balance sheet and profit and loss accounts as on……………..each year.

Related MCQs

• Every banking company incorporated in India must transfer to the Reserve fund a sum equivalent to not less than 25% of profit of each year before declaration of dividend.
• Managing committee of every Society shall prepare annual statement of accounts within…………… days.
• Non-Banking Assets must be shown in the Balance Sheet in scheduled 8.
• In Branch Accounting the balance on stock reserved Account at the end of the period is shown in the balance sheet by the way of deduction from
• Profit and losses can’t be ascertained because Trading and Profit and loss account can’t be prepared.
• IF Gross profit rate is 20% and Short Sales is Rs. 400000, then Loss of Profit on Sales will be ………..
• IF Gross profit rate is 40% and Short Sales is Rs. 250000, then Loss of Profit on Sales will be ………..
• A business takes a……………insurance policy to cover the claims for loss of stocks and loss of profit.
• Deposits from Society and individuals should be shown separately to the …….. side of balance sheet.
• If Net Profit is Rs. 200000 Insured Standing Charges is Rs. 160000 Sales of The Previous year is Rs. 1800000 Then Gross Profit Rate will be…………