S.Y B.COM
SEMESTER - 4
CORPORATE ACCOUNTING
(CA)
MCQS - MARCH 2014
MARCH - 2015
MARCH - 2016
MARCH - 2014
1. With respect to Final Accounts of Joint Stock Companies, Licenses will be recorded under the head______ in the Balance Sheet.
(A) Non-Current Assets in Fixed Assets as Tangible Fixed Asset.
(B) Non-Current Assets in Fixed Assets as intangible Fixed Asset.
(C) Non-Current Assets in Fixed Assets as Capital work-in-progress.
(D) Non-Current Assets in Fixed Assets as intangible Asset under development.
2. _________refers to the amount of profit distributed as income to shareholders.
(A) Dividend
(B) Dividend and interest
(C) Interest
(D) None of the above
3. Intellectual Property Rights are_______
(A) Intangible Assets
(B) Tangible Assets
(C) Investments
(D) Trade Receivables
4. The balance of reserves, after such withdrawal shall not fall below _____of its paid up share capital, if dividend declaration is out of Reserves.
(A) 20%
(B) 15%
(C) 10%
(D) None of the above
MARCH 2015
1. Securities premium is shown in balance sheet in Equity and Liabilities, In______ heading.
(A) Share Capital
(B) Reserves and Surplus
(C) Sort term borrowings
(D) Short term provisions
2. As per section 135 every company having net profit of 5 crores or more during and financing year has to spend at least ______of the average profits or company made during preceding 3 financial years in pursuance of CSR policy
(A) 4%
(B) 3%
(C) 2%
(D) 5%
3. Which of the following is an example of other current Liabilities?
(A) Current maturities of long term debt
(B) Unpaid dividend
(C) Income received in advance
(D) All of the above
4. In the event of inadequacy or absence of profit in a year, a company may declare divided out of ______
(A) Free reserve
(B) Debentures Redemption Reserve
(C) Revaluation Reserve
(D) Capital Redemption Reserve
5. Which of the following is not the criterion for classified a liability as a current liability?
(A) It is expected to be settled in the company’s normal operating cycle.
(B) It is not held primarily for the purpose of being traded.
(C) It is due to be settled within twelve months after the reporting date.
(D) The company does not have unconditional right to defer settlement of the liability for at least twelve months after the reporting date.
6. Intellectual property rights are
(A) Intangible assets
(B) Investments
(C) Tangible assets
(D) Trade Receivable
MARCH - 2016
1. Shareholder’s fund includes
(A) Share Capital
(B) Reserves & Surplus
(C) Money received against share warrants
(D) All of the above
2. Which of the following is nor an intangible asset?
(A) Goodwill
(B) Trademark
(C) Computer software
(D) Vehicles
3. Loses tools in an item to be shown under which head in balances sheet as per companies act 2013?
(A) Inventories
(B) Tangible fixed assets
(C) Reserves and Surplus
(D) other Current Liabilities
4. Any item of income of expenses which exceeds_____ of the revenue from operations of ₹ _________ whichever is higher, needs to be disclosed separately.
(A) 2%, ₹ 30,000
(B) 1%, ₹ 100,000
(C) 4%, ₹ 35,000
(D) 6%, ₹ 43,000
5. In case of joint stock Company, the need for calculating goodwill
arise-
(A) When company has previously written off goodwill and wants to write it back
(B) When the company is being taken over by the government.
(C) When one class of shares is converted in to another
(D) All of the above
6. Calculate the value of equity share by yield method on the basis of rate of dividend with the held of following information
Expected rate of divided - 15%, Normal rate of dividend - 12% and paid up value of equity share - Rs 100
(A) ₹ 100
(B) ₹ 120
(C) ₹ 125
(D) ₹ 130
7. One way of calculating Net Capital employed in case of goodwill is
(A) Trading assets all external liabilities
(B) Non-trading assets all external liabilities
(C) Trading assets + Non trading assets - All external liabilities
(D) None of the above
8. If the profit s over the past four of five ear shown distinct failing or rising trend, _____should be calculated for the purpose valuation of goodwill.
(A) Simple average profits
(B) Weighted average profit
(C) Both A and B
(D) None of above
9. Net Assets backing method is also known as:
(A) Breakup value method
(B) Intrinsic value method
(C) A & B both
(D) None of above
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