Which of the following relate to financial position in a set of financial statements?

Related MCQs

• Match List I (Financial Statements and Accounts) with List II (special matters associated with statements and accounts) and select the correct answer using the codes given below the lists: List I List II i) Receipts and Payments Account I. Revenue ii) Income and Expenditure Account II. Cash iii) Club subscription received in III. Liability Advance Account Codes:(i) (ii) (iii)
• Mr. Rohit, owner of Rohit Furniture Ltd., owns a personal residence that cost ` 6,00,000, but has a market value of ` 9,00,000. During preparation of the financial statement for the business, the entire value of property was ignored and was not shown in the financial statements. The principle that was followed was
• If Office Equipment is purchased for cash, what effect will this transaction have on the financial position of the company?
• _______________ is prepared at the end of the accounting period to show the financial position o f business
• These are the reserves created only to strengthen the financial position or the business and to keep the funds available for any future contingency or expenditure that may be required:
• Which of the following is not classified as inventory in the financial statements?
• Which of the following statements about differences between financial and management accounting is incorrect?
• Which of the following accounts appear(s) in the Balance Sheet of a business? i. Stock at the end of the financial year ii. Stock at the beginning of the financial year iii. Drawings iv. Prepaid Rent v. Interest received but not yet earned
• The process of converting foreign – subsidiary financial statements into the home currency is known as------------
• The process of converting foreign subsidiary financial statements into the home currency is known as -------