Question

Instructions: 1. All Questions are compulsory | 2. Keep proper margin | 3. Write neatly.
1. Dividend is paid on: 1
(a) Authorised Capital (b) Issued Capital
(c) Subscribed Capital that is paid- up (d) Both (b) and (c)
2. Revenue from sale of goods manufactured is shown in the Statements of P/L as: 1
(a) Revenue from Operations (b) Other income
(c) Any of the above (d) Long term provisions
3. Interest Income of a non financial company is shown in the P/L as: 1
(a) Revenue from Operations (b) Other income
(c) Any of the above (d) Long term provisions
4. Wages paid to workers is shown in the statement of P/L under: 1
(a) Cost of material consumed (b) Other Expenses
(c) Employee Benefit Expenses (d) Any of the above
5. Indicate which appears as Short term Provision: 1
(a) Provision for expenses (b) Interest Accrued but not due
(c) Employee Provident Fund (d) None of the Above
6. Name two items which can be disclosed under “Revenue from Operations”. 1
7. Name of the two financial statements of a company. 1
8. How are the assets and liabilities of a Company usually marshalled? 1
9. If the operating cycle is 12 months and payments is received in 15 months, how will you classify 1
the asset?
10. What is number of major heads o assets side of a Company’s Balance Sheet? 1
11. Define Operating cycle with the help of suitable example. 3
12. Under what heads will you classify the following items on the equity and liability side of the 6
Balance sheet of a Limited Company:
(a) Unclaimed Dividend
(b) Proposed Dividend
(c) Securities Premium Reserve
(d) Public Deposits
(e) Debentures
(f) Nominal Capital
13. Name the items of the following sub headings under which Current Assets shall be classified in a Company’s Balance Sheet. 6
(a) Current Investment
(b) Inventories
(c) Trade Receivables
(d) Cash and Cash Equivalents
(e) Short term loans and advances
(f) Other Current Assets






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Answer 1

Answer:

5 pts is very less

Explanation:

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