Q. Transfer to capital redemption reserve can be made from ____.
✅ Correct Answer: (C)
general reserve
Corporate Accounting MCQs and Notes
Q. Interest on debentures is calculated on ______.
✅ Correct Answer: (C)
face value
Q. Banking companies are governed in India by
✅ Correct Answer: (A)
Banking Regulation Act
Q. ….. lease is a lease that transfers substantially all the risks and rewards incidental o ownership of assets
✅ Correct Answer: (A)
finance
Q. Grants related to depreciable assets should be recognised as……., in the period in which their depreciation is charged
✅ Correct Answer: (A)
income
Q. Banks show the provisions for income tax under the head
✅ Correct Answer: (C)
other liabilities and provisions
Q. The fixed assets of an insurance company are shown in
✅ Correct Answer: (D)
none
Q. The Insurance Act came in to effect in …..
✅ Correct Answer: (C)
1938