Financial Statements And Their Analysis CBSE Questions & Answers

Financial Statements And Their Analysis

This is Accountancy Class 12 Financial Statements and their Analysis CBSE Questions & Answers. There are 15 questions in this test with each question having around four answer choices.

Questions & Answers

1
Name the sub head under the head ‘Non-Current Liabilities’(a) Long-term borrowings (b) long term provisions (c) short term borrowings (d) Trade payables (e) Deferred tax liabilities (f) short term provisions. Choose one of the following options
  • A
    a,b,c,d
  • B
    b, c, d, e
  • C
    a,b,c
  • D
    a, b,e
    Correct
2
Name the sub head under the head ‘Current Liabilities’ (a) Long-term borrowings (b) long term provisions (c) short term borrowings (d) Trade payables (e) Deferred tax liabilities (f) short term provisions. Choose one of the following options
  • A
    a,b,c
  • B
    c,d,f
    Correct
  • C
    a,b,c,d
  • D
    b, c, d, e
3
Which among the following is not a Intangible assets
  • A
    Office equipments
    Correct
  • B
    License
  • C
    Brand
  • D
    Goodwill
4
Under which head will the Preliminary expenses will be shown in the balance sheet of the company
  • A
    Intangible assets
  • B
    Share Capital
  • C
    Does not appear
    Correct
  • D
    Goodwill
5
Under which head will the Forfeited share account will be shown
  • A
    Subtracted share capital
  • B
    Contingent liabilities
  • C
    Added to Paid share capital
    Correct
  • D
    Short term provision
6
Company‘s Balance Sheet shows the following two items..General Reserve (Since 31st March, 2011) Rs. 3,00,000, Statement of Profit and Loss(Debit Balance) for 2011-12, Rs. 2,00,000. Calculate Reserve and Surplus
  • A
    Rs. 500000
  • B
    Rs.400000
  • C
    Rs.100000
    Correct
  • D
    Rs.300000
7
Items Share Capital, Reserves and Surplus, Money received against share warrants comes under the which head
  • A
    Shareholder’s Fund
    Correct
  • B
    Long Term Borrowings
  • C
    Non - Current liabilities
  • D
    Current liabilities
8
following are the Current Liabilities except
  • A
    Deferred tax liabilities
    Correct
  • B
    Trade payables
  • C
    Short-term provisions
  • D
    Short-term borrowings
9
Match the following. Options are
Question 9 figure 1
  • A
    a(i), b(iv), c(iiii), d(ii)
  • B
    a(ii), b(iv), c(i), d(iii)
  • C
    a(iii), b(iv), c(i), d(ii)
    Correct
  • D
    a(iv) b(iii), c(i), d(ii)
10
Which of the Following is/are the Fixed Assets
  • A
    All of these
    Correct
  • B
    Capital work-in progress
  • C
    Intangible assets
  • D
    Intangible assets under development
11
From the following information Calculate Profit after tax
Question 11 figure 1
  • A
    Rs.900000
  • B
    Rs.800000
  • C
    Rs. 300000
    Correct
  • D
    Rs.600000
12
From the following information Calculate Profit after tax
Question 12 figure 1
  • A
    Rs. 300000
  • B
    Rs. 315000
    Correct
  • C
    Rs. 415000
  • D
    Rs.400000
13
Calculate Current liabilities from the following information - Trade payables- Rs.75000, Other current liabilities- Rs.50000, Short term provisions-Rs.20000, Deferred tax liabilities- Rs.20000
  • A
    Rs. 145000
    Correct
  • B
    Rs.125000
  • C
    Rs.135000
  • D
    Rs.165000
14
Calculate Current liabilities from the following information - Deferred tax liabilities (net)- Rs. 120000, Other long term liabilities-Rs.30000, Long term provisions- Rs. 50000, Trade payables- Rs.75000
  • A
    Rs.600000
  • B
    Rs.500000
  • C
    Rs.300000
  • D
    Rs.200000
    Correct
15
ABC Ltd has an authorized capital of Rs. 100000 divided into Equity share of Rs. 10 each. The company invited application for 50000 shares. Application for 40000 shares was received. All calls were made and duly received except the final call of Rs. 2 per share on 1000 shares. 500 of these on which the final call was not received were forfeited. Calculate share capital
  • A
    Rs.405000
  • B
    Rs. 100000
  • C
    Rs. 505800
  • D
    Rs. 398000
    Correct