McqMate
These multiple-choice questions (MCQs) are designed to enhance your knowledge and understanding in the following areas: Bachelor of Business Administration (BBA) , Bachelor of Commerce (B Com) .
Chapters
| 751. |
Unclaimed dividend is shown on the liability side of the balance sheet under the heading:‐ |
| A. | Reserves & Surpluses |
| B. | Current liabilities |
| C. | Provisions |
| D. | Unsecured Loans. |
| Answer» B. Current liabilities | |
| 752. |
Unclaimed dividend is shown on the ‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐ of the balance sheet |
| A. | Assets side |
| B. | Credit side |
| C. | Liability side |
| D. | Debit side |
| Answer» C. Liability side | |
| 753. |
Uncliamed dividend is shown on the liability side of the ‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐ under the heading current liabilities. |
| A. | Profit and loss account |
| B. | Income statement |
| C. | Revenue Account |
| D. | Balance sheet |
| Answer» D. Balance sheet | |
| 754. |
The difference between Gross dividend receivable and dividend received is debited to ‐‐‐‐‐‐‐‐‐‐‐‐‐‐ |
| A. | Tax deducted at source |
| B. | Dividend deducted at source |
| C. | Interest deducted at source |
| D. | None of these. |
| Answer» A. Tax deducted at source | |
| 755. |
The difference between ‐‐‐‐‐‐‐‐‐‐‐‐‐‐ receivable and dividend received is debited to tax deducted at source. |
| A. | Gross dividend |
| B. | Net dividend |
| C. | Average dividend |
| D. | Final dividend |
| Answer» A. Gross dividend | |
| 756. |
Dividend declared between two ‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐ is known as interim dividend |
| A. | Annual general meeting |
| B. | Directors meeting |
| C. | Special meeting |
| D. | Board meeting |
| Answer» A. Annual general meeting | |
| 757. |
‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐ declared between two annual general meeting is known as interim dividend |
| A. | Interest |
| B. | Dividend |
| C. | Final dividend |
| D. | Unclaimed dividend |
| Answer» B. Dividend | |
| 758. |
Dividend declared between two annual general meeting is known as ‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐ |
| A. | Final dividend |
| B. | Unclaimed dividend |
| C. | Interim dividend |
| D. | None of these. |
| Answer» C. Interim dividend | |
| 759. |
Calls in advance is shown on the ‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐ of the balance sheet |
| A. | Asset side |
| B. | Credit side |
| C. | Liability side |
| D. | Debit side |
| Answer» C. Liability side | |
| 760. |
Preliminiary expenses incurred on the ‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐ of a company. |
| A. | Formation |
| B. | Fluctuation |
| C. | Absorption |
| D. | Amalgamation |
| Answer» A. Formation | |
| 761. |
A Banking company should transfer ‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐ of its profits to a statutory reserve. |
| A. | 20% |
| B. | 25% |
| C. | 15% |
| D. | 10% |
| Answer» B. 25% | |
| 762. |
A banking company should transfer 25% of its profits to a ‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐ |
| A. | General reserve |
| B. | Capital reserve |
| C. | Statutory Reserve |
| D. | Reserve fund |
| Answer» C. Statutory Reserve | |
| 763. |
A ‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐ company should transfer 25% of its profits to a statutory reserve |
| A. | Joint stock company |
| B. | Insurance company |
| C. | Private limited company |
| D. | Banking company |
| Answer» D. Banking company | |
| 764. |
Rebate on bills discounted is a ‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐ of the Banking company. |
| A. | Liability |
| B. | Assets |
| C. | Expense |
| D. | Income |
| Answer» A. Liability | |
| 765. |
Rebate on bills discounted is shown on the ‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐ side of the balance sheet |
| A. | Asset |
| B. | Liability |
| C. | Credit |
| D. | Debit |
| Answer» B. Liability | |
| 766. |
Rebate on bills discounted is shown on the liability side of the ‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐ |
| A. | Profit and loss account |
| B. | Income statement |
| C. | Balance sheet |
| D. | None of these. |
| Answer» C. Balance sheet | |
| 767. |
Bills discounted is an ‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐ of the banking company |
| A. | Asset |
| B. | Liability |
| C. | Income |
| D. | Expense |
| Answer» A. Asset | |
| 768. |
Banks are required to transfer ‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐ of their profits to a statutory Reserve. |
| A. | 25% |
| B. | 205 |
| C. | 15% |
| D. | 10% |
| Answer» A. 25% | |
| 769. |
Rebate on bills discounted is ‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐ |
| A. | An item of income |
| B. | Income received in advance |
| C. | An asset |
| D. | Income accrued |
| Answer» B. Income received in advance | |
| 770. |
Banking business in India is largely governed by the Banking Regulation Act‐‐‐‐‐‐‐‐‐ |
| A. | 1932 |
| B. | 1956 |
| C. | 1949 |
| D. | 1938 |
| Answer» C. 1949 | |
| 771. |
‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐ in India is largely governed by the Banking Regulation act 1949. |
| A. | Insurance business |
| B. | Banking business |
| C. | Joint Stock company |
| D. | Cooperative society. |
| Answer» B. Banking business | |
| 772. |
Banking business in India is largely governed by the ‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐ |
| A. | Partnership Act |
| B. | Companies Act |
| C. | Insurance Act |
| D. | Banking Regulation Act |
| Answer» D. Banking Regulation Act | |
| 773. |
A ‐‐‐‐‐‐‐‐‐‐‐‐ loan is payable on demand |
| A. | Short term Loan |
| B. | Demand Loan |
| C. | Fixed Loan |
| D. | Long term Loan |
| Answer» B. Demand Loan | |
| 774. |
A demand Loan is payable on ‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐ |
| A. | Demand |
| B. | At any time |
| C. | After one year |
| D. | After six months |
| Answer» A. Demand | |
| 775. |
Revenue reserve means any reserve other than ‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐ reserve. |
| A. | General |
| B. | Capital |
| C. | Capital Redemption |
| D. | Other reserve. |
| Answer» D. Other reserve. | |
| 776. |
Money at call and short notice is an ‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐ of the Banking company. |
| A. | Liability |
| B. | Asset |
| C. | Income |
| D. | Expense |
| Answer» B. Asset | |
| 777. |
Banks show provision for income tax under the head |
| A. | Contingency Account |
| B. | Other liabilities |
| C. | Contingent liabilities |
| D. | None of these. |
| Answer» B. Other liabilities | |
| 778. |
Contingency funds have been grouped in the balance sheet under the head ‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐ |
| A. | Other liabilities |
| B. | Provisions |
| C. | Current liabilities |
| D. | Current liabilities and provisions. |
| Answer» D. Current liabilities and provisions. | |
| 779. |
No profits and Loss Appropriation Account is prepared in case of a ‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐ company. |
| A. | Company |
| B. | Partnership |
| C. | Banking company |
| D. | None of these, |
| Answer» C. Banking company | |
| 780. |
Banks are required to prepare final accounts for each ‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐ year |
| A. | Financial year |
| B. | Calendar year |
| C. | Previous year |
| D. | None of these. |
| Answer» A. Financial year | |
| 781. |
A company required to prepare in profit & loss Account according to ‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐ in to III schedule to the banking regulation Act. |
| A. | Form A |
| B. | Form B |
| C. | Form C |
| D. | Form D |
| Answer» B. Form B | |
| 782. |
A Banking company required to prepare its balance sheet according to ‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐ in the schedule III to the banking |
| A. | Form A |
| B. | Form B |
| C. | Form C |
| D. | Form D |
| Answer» A. Form A | |
| 783. |
A Banking company required to prepare final accounts according to ‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐ schedule to the banking Regulation Act. |
| A. | III |
| B. | IV |
| C. | V |
| D. | VI |
| Answer» A. III | |
| 784. |
A ‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐ company required to prepare its balance sheet according to form A in the III schedule to the banking Regulation Act. |
| A. | Insurance company |
| B. | Joint stock company |
| C. | Banking company |
| D. | None of these. |
| Answer» C. Banking company | |
| 785. |
A ‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐ company required to prepare its project and loss account according to Form B in the Schedule III to the Banking Regulation Act. |
| A. | Insurance company |
| B. | Joint stock company |
| C. | Banking company |
| D. | None of these. |
| Answer» C. Banking company | |
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