Q. A computer sometimes is also termed as 'electronic brain'
✅ Correct Answer: (A)
True
Corporate Accounting MCQs and Notes
Q. The share of outsiders in the Net Assets in subsidiary company is known as under :
✅ Correct Answer: (C)
Minority Interest
Q. A ‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐ company required to prepare its project and loss account according to Form B in the Schedule III to the Banking Regulation Act.
✅ Correct Answer: (C)
Banking company
Q. A ‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐ company required to prepare its balance sheet according to form A in the III schedule to the banking Regulation Act.
✅ Correct Answer: (C)
Banking company
Q. A Banking company required to prepare final accounts according to ‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐ schedule to the banking Regulation Act.
✅ Correct Answer: (A)
III
Q. A Banking company required to prepare its balance sheet according to ‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐ in the schedule III to the banking
✅ Correct Answer: (A)
Form A
Q. A company required to prepare in profit & loss Account according to ‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐ in to III schedule to the banking regulation Act.
✅ Correct Answer: (B)
Form B
Q. Banks are required to prepare final accounts for each ‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐ year
✅ Correct Answer: (A)
Financial year
Q. No profits and Loss Appropriation Account is prepared in case of a ‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐ company.
✅ Correct Answer: (C)
Banking company
Q. Contingency funds have been grouped in the balance sheet under the head ‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐
✅ Correct Answer: (D)
Current liabilities and provisions.