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Questions and Answers
Where is the profit on reissue of forfeited shares transferred to?
Where is the profit on reissue of forfeited shares transferred to?
- Call in Arrears
- Securities premium reserve (correct)
- Capital reserve
- General reserve
What is the amount transferred to capital reserve?
What is the amount transferred to capital reserve?
- ₹ 25,000 (correct)
- ₹ 5,000
- ₹ 30,000
- ₹ 95,000
How is excess application money on pro-rata allotment treated?
How is excess application money on pro-rata allotment treated?
- Returned to W, X & Y
- Adjusted at the time of first and final call
- Adjusted at the time of allotment (correct)
- Shown as application money pending allotment
What is the maximum discount that could be given by Mona Ltd for re-issue of forfeited shares of X?
What is the maximum discount that could be given by Mona Ltd for re-issue of forfeited shares of X?
How many shares were applied for by Y?
How many shares were applied for by Y?
What is the amount received per share on first and final call?
What is the amount received per share on first and final call?
What is the correct classification of 'Interest accrued but not due on borrowings' in the Balance Sheet?
What is the correct classification of 'Interest accrued but not due on borrowings' in the Balance Sheet?
What is the profit after tax, given Revenue from Operations is 4,00,000, Cost of Revenue from Operations is 60% of Revenue from Operations, Operating expenses are 30,000, and the income tax rate is 40%?
What is the profit after tax, given Revenue from Operations is 4,00,000, Cost of Revenue from Operations is 60% of Revenue from Operations, Operating expenses are 30,000, and the income tax rate is 40%?
Which of the following items are included in 'Revenue from operations' for a financial company?
Which of the following items are included in 'Revenue from operations' for a financial company?
Which of the following profits of capital nature may be transferred to capital reserve?
Which of the following profits of capital nature may be transferred to capital reserve?
What is the correct explanation for the classification of 'Interest accrued but not due on borrowings' as a current liability?
What is the correct explanation for the classification of 'Interest accrued but not due on borrowings' as a current liability?
What is the revenue from operations, given sales are 4,00,000 and interest earned is 1,00,000?
What is the revenue from operations, given sales are 4,00,000 and interest earned is 1,00,000?
What is the format that financial statements of a company must be prepared in according to the Indian Companies Act, 2013?
What is the format that financial statements of a company must be prepared in according to the Indian Companies Act, 2013?
What type of analysis is vertical analysis classified as?
What type of analysis is vertical analysis classified as?
What is a measure of the relationship between two figures called?
What is a measure of the relationship between two figures called?
Which of the following is a measure of liquidity that excludes inventory, which is generally the least liquid asset?
Which of the following is a measure of liquidity that excludes inventory, which is generally the least liquid asset?
What is the purpose of vertical analysis in financial statements?
What is the purpose of vertical analysis in financial statements?
What is the term for the analysis of financial statements for a single year or on a particular date?
What is the term for the analysis of financial statements for a single year or on a particular date?
What is the term for the part of un-called capital that can only be called in the liquidation of a company?
What is the term for the part of un-called capital that can only be called in the liquidation of a company?
Which of the following is a type of fixed asset?
Which of the following is a type of fixed asset?
What is the purpose of financial statement analysis?
What is the purpose of financial statement analysis?
What is the correct matching for 'Capital Reserve'?
What is the correct matching for 'Capital Reserve'?
What is the correct classification of 'Building under construction'?
What is the correct classification of 'Building under construction'?
What is the correct matching for 'Mortgage loan'?
What is the correct matching for 'Mortgage loan'?
What are the subheadings of Current Liabilities?
What are the subheadings of Current Liabilities?
What is not included in the subheading 'Inventory'?
What is not included in the subheading 'Inventory'?
What is not included in the subheading 'Cash and cash equivalents'?
What is not included in the subheading 'Cash and cash equivalents'?
What is the main objective of a Common size statement?
What is the main objective of a Common size statement?
Which of the following is classified as a Long-term borrowing?
Which of the following is classified as a Long-term borrowing?
If the fixed assets of a company increased from Rs. 3,00,000 to Rs. 4,00,000, what is the percentage change?
If the fixed assets of a company increased from Rs. 3,00,000 to Rs. 4,00,000, what is the percentage change?
