Q. Amount of retirement benefits of employees exceeding Rs.20,000 per employees is treated as____________
✅ Correct Answer: (B)
preferential creditors
Financial Accounting MCQs and Notes
Q. Certificate of incorporation of LLP is issued by_______________
✅ Correct Answer: (B)
registrar of companies
Q. Accounting for Absorption is governed by______________
✅ Correct Answer: (A)
as 14
Q. Conversion of currency is covered in AS______
✅ Correct Answer: (A)
11
Q. R LTD. Issued a debenture of Rs.100 each at Rs.90. The underwriting commission will be paid on___________
✅ Correct Answer: (A)
rs.90
Q. In the case of members voluntary winding up liquidator is appointed by _____________
✅ Correct Answer: (A)
the company in general meeting
Q. Accounts of LLP are to be audited by _____________
✅ Correct Answer: (C)
chartered accountant
Q. A feature which is common in all cases or merger__________________-
✅ Correct Answer: (A)
purchase of one comapany by another company
Q. Non-Monetary Items which are carried in terms of historical cost determinated in a foreign currency should be reporte using exchange rate at the date of _____
✅ Correct Answer: (C)
transaction
Q. The underwriting commission in the case of debentures as per Companies Act, should not exceed_________
✅ Correct Answer: (B)
2.5% of the price at which debenture are issued