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.

Related MCQs

• Every banking company should prepare a balance sheet and profit and loss accounts as on……………..each year.
• Banking Companies in India are governed by Banking Regulation act 1952.
• The………………Fund cannot be utilized for payment of dividend as bonus.
• 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…………
• If Net Profit is Rs. 400000 Insured Standing Charges is Rs. 320000 Sales of The Previous year is Rs. 3600000 Then Gross Profit Rate will be…………
• Dividend received on shares is comes to the……………. side of profit and loss account.
• The ratio shows the preference dividend as a proportion of profit available for shareholders is
• Goods sent by the head office at the end of the year but not received by Branch before the year ended is known as
• Non-Banking Assets must be shown in the Balance Sheet in scheduled 8.
• If Gross profit is 600000, sales is Rs. 15,00,000 then gross profit ratio will be …………..