Q. Goodwill incase of a joint stock on the assets side under the heading of ‐‐‐‐‐‐‐‐‐‐
✅ Correct Answer: (A)
Fixed assets
Corporate Accounting MCQs and Notes
Q. Fictitious Assets are shown on the asset side of the balance sheet of a company under the heading ‐‐ ‐‐‐‐‐‐‐‐‐
✅ Correct Answer: (D)
Miscellaneous Expenditure
Q. Fictitious Assets shown on the Asset side of the ‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐
✅ Correct Answer: (C)
Balance sheet
Q. Fictitious assets are shown on the ‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐side of the balance sheet.
✅ Correct Answer: (D)
Assets
Q. Calls in arrear is shown on the liability side of the balance sheet:‐
✅ Correct Answer: (D)
By deducting the amount from the called up capital
Q. Assets in to Balance sheet of a limited company are arranged in order of :‐
✅ Correct Answer: (B)
Permanence
Q. Dividend paid are subject to ‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐ Tax @ 17% as per recent Finance Act
✅ Correct Answer: (C)
Corporate Dividend Tax
Q. Dividend paid or declared are subject to corporate Dividend Tax @ 17% as per recent ‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐
✅ Correct Answer: (A)
Finance Act
Q. Dividend paid or declared are subject to corporate dividend Tax @ ‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐ as per recent finance Act.
✅ Correct Answer: (B)
17%
Q. Ordinarily ‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐ are available for the distribution of dividend.
✅ Correct Answer: (A)
Revenue profits