Financial Statements & Analysis Of Financial Statements CBSE Questions & Answers

Financial Statements & Analysis Of Financial Statements

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

Questions & Answers

1
Which of the following is fictitious Asset?
  • A
    Preliminary Expense
    Correct
  • B
    Loose Tools
  • C
    Income Tax
  • D
    Goodwill
2
Discount on issue of Shares and Debentures is _____
  • A
    Current Assets
  • B
    Current Liability
  • C
    Miscellaneous Expenditures
  • D
    Fictitious Asset
    Correct
3
Securities Premium A/c is shown under :
  • A
    Short term provisions
  • B
    Current Liabilities
  • C
    Reserve and Surplus
    Correct
  • D
    Share Capital
4
Goodwill is not a _________
  • A
    Fixed Asset
  • B
    None of these
  • C
    Fictitious Asset
    Correct
  • D
    Intangible Asset
5
In a company?s balance sheet Assets are shown in the order of______
  • A
    None of these
  • B
    Liquidity
  • C
    Permanence
    Correct
  • D
    Market Value
6
With the Permission of Registrar accounting period can be extended up to _____
  • A
    14 Months
  • B
    15 Months
  • C
    13 Months
  • D
    18 Months
    Correct
7
Balance Sheet of A Company is prepared according to the Revised Schedule VI, Part-I of ______
  • A
    Section 213
  • B
    Section 217
  • C
    Section 211
    Correct
  • D
    Section 209
8
Immovable Property is shown under the heading :
  • A
    Investments
    Correct
  • B
    Fixed Tangible Assets
  • C
    Current Assets
  • D
    Loans and Advances
9
Claim against the company not yet acknowledged as debt, is a _______
  • A
    Reserve and Surplus
  • B
    Provisions
  • C
    Contingent Liability
    Correct
  • D
    Current Liability
10
Which of the following is not shown under the heading of Reserves and surplus?
  • A
    Securities Premium
  • B
    Bills of exchange
    Correct
  • C
    Statement of profit and loss
  • D
    Capital Reserve
11
Which of the following is a fixed intangible asset?
  • A
    None of these
  • B
    Office Equipments
  • C
    Titles and Mastheads
    Correct
  • D
    Freeholder properties
12
Loose Tools are shown under the _________
  • A
    Inventories
    Correct
  • B
    Short term provisions
  • C
    Liquid Assets
  • D
    Investment
13
Computer software is shown under the __________
  • A
    Current Assets
  • B
    Fictitious Assets
  • C
    Fixed Tangible Assets
  • D
    Fixed intangible Assets
    Correct
14
Prepaid expenses are shown under____________
  • A
    Inventories
  • B
    Cash Equivalents
  • C
    Other current assets
    Correct
  • D
    None of these
15
Work in progress is shown under____________
  • A
    Current Investments
  • B
    Cash and Cash Equivalents
  • C
    None of these
  • D
    Inventories
    Correct