Q. Bills discounted is an ‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐ of the banking company
✅ Correct Answer: (A)
Asset
Corporate Accounting MCQs and Notes
Q. Rebate on bills discounted is shown on the liability side of the ‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐
✅ Correct Answer: (C)
Balance sheet
Q. Rebate on bills discounted is shown on the ‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐ side of the balance sheet
✅ Correct Answer: (B)
Liability
Q. Rebate on bills discounted is a ‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐ of the Banking company.
✅ Correct Answer: (A)
Liability
Q. A ‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐ company should transfer 25% of its profits to a statutory reserve
✅ Correct Answer: (D)
Banking company
Q. A banking company should transfer 25% of its profits to a ‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐
✅ Correct Answer: (C)
Statutory Reserve
Q. A Banking company should transfer ‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐ of its profits to a statutory reserve.
✅ Correct Answer: (B)
25%
Q. Preliminiary expenses incurred on the ‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐ of a company.
✅ Correct Answer: (A)
Formation
Q. Calls in advance is shown on the ‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐ of the balance sheet
✅ Correct Answer: (C)
Liability side
Q. Dividend declared between two annual general meeting is known as ‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐
✅ Correct Answer: (C)
Interim dividend