Financial Accounting solved MCQs

a. indian partnership act 1932

B. indian partnership act 1955

c. the association of persons act 1932

d. the indian association act 1955

a. 40

B. 20

c. 25

d. 30

a. the partnership act

B. the association of persons act

c. the companie\s act

d. the corporate associations act

a. government dues

B. partners\ loans

c. preferential creditors

d. secured creditors

a. insufficient

B. adequate

c. reserved

d. paid to partners

a. market value method

B. book value method

c. net assets method

d. balance sheet method

a. internal reconstruction

B. absorption

c. external reconstruction

d. pouncing

a. unlimited

B. restricted

c. as per the articles of association

d. limited

a. the balance sheet rate of exchange

B. fair value

c. original value

d. agreed value

a. international financial reporting standards

B. the companies\ act

c. institute of chartered accountants of india

d. the government of india

a. 2.5% of the price at which debenture are issued

B. 3% of the price at which the debentures are issued

c. 4% of the price at which debentures are issued

d. 5% of the price at which debentures are issued

a. section 117 c

B. section 80

c. section 100 to 104

d. section 68

a. liquidation of at least two companies

B. liquidation at least one existing company & formation of another company

c. formation of at least one new company

d. purchase of one comapany by another company

a. reduction of share capital

B. variation of shareholders rights

c. alteration of share capital

d. compromise/ arrangement

a. the registrar of companies

B. the central government

c. the company in general meeting

d. the board of directors

a. rs.95

B. rs.90

c. rs.105

d. rs.100

a. refund of debentures

B. refund of preference share capital

c. refund of equity share capital

d. purchase of own debenture

a. as 1

B. as 13

c. as 11

d. as 14

a. reduction of share capital

B. alteration of share capital

c. compromise/ arrangement

d. variation of shareholders rights

a. secured creditors

B. unsecured creditors

c. over-riding preferential creditors

d. preferential creditors

a. rs.120

B. rs.90

c. rs.100

d. rs.80

a. 3 months

B. 6 months

c. 2 months

d. 12 months

a. into which a company is amalgamated

B. which is amalgamated into another company

c. which is newly formed

d. which is any one old company into new comapny

a. only on company goes into liquidation

B. no company is liquidated

c. one or more companies go into liquidation

d. two or more companies are liquidated

a. unsecured creditors

B. preferential creditors

c. over-riding preferential creditors

d. secured creditors