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MCQ Questions for Class 12 Accountancy set-8

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1. Debentures represent:




2. Debentures carries interest at: .




3. Generally debentures are :




4. Premium on issue of debentures is a for Company :




5. For a company discount on issue of debentures is :




6. ‘Premium on issue of debentures’ is shown in the Balance Sheet on:




7. The balance of discount on debentures is shown in the Balance Sheet on:




8. Rate of interest on debentures is :




9. Discount on issue of Debentures should be written off:




10. F Ltd. purchased machinery for a book value of ₹ 4,00,000. The consideration was paid by issue of 10% Debentures of ₹ 100 each at a discount of 20%. The Debenture Account will be credited by :




11. Debenture holder gets:




12. Loss on issue of debentures is generally written off in :




13. When debentures are issued as collateral security, which entry has to be passed ?




14. Debenture holder receives:




15. Debenture holders are called of the company.




16. A company issued ₹ 1,00,000 12% debentures of ₹ 100 each. The amount of interest on debentures will be:




17. Premium on redemption of debentures account is :




18. Debenture premium can be used to :




19. Which of the following is false ?




20. Debenture is the part of:




21. Consideration of Debenture is:




22. Premium on Redemption of Debenture A/c is.:




23. Loss on issue of debentures is recorded as :




24. Which of the following is the element of financial statements?




25. Which of the following is not required to be prepared under the Companies Act:




26. Equity ₹ 90,000 Liabilities ₹ 60,000 Profit of the year ₹ 20,000. Then total assets will be :




27. The reserve which is created for a particular (specific) purpose and which is a charge against revenue is called:




28. An Annual Report is issued by a company to its:




29. The profit and loss disclosed by the accounts of a company is:




30. The assets of a business can be classified as :




31. The term financial statements includes :




32. Balance Sheet is a :




33. Financial statements are the product of accounting process.




34. Financial statements disclose :




35. Statement of Profit & Loss is also called………:




36. Preliminary expenses are shown in the Balance Sheet under the head:




37. Debit Balance of Profit & Loss Statement will be shown on:




38. Patents and copyrights fall under the category of:




39. Goodwill falls under which category of assets:




40. Contingent Liabilities are exhibited under the heading:




41. Provision for Provident Funds is shown in the Balance Sheet of a company under the head :




42. Preliminary Expenses are shown in the Balance Sheet under which head ?




43. Financial Statements are :




44. The term current assets includes :




45. Which of the following is not a part of financial statement of a company ?




46. Under which heading of Balance Sheet is general reserve shown:




47. Current Assets on the Assets side of Balance Sheet of a Company includes:




48. As per provisions of Companies Act, 2013 under which Section, the final accounts of a company is prepard :




49. According to which part of Schedule III of the Indian Companies Act, 2013, Indian companies have to prepare Balance Sheet:




50. Balance sheet of companies is now prepared in :