Q. Accrued Holiday remuneration becoming payable to any workman is treated as ________________________
✅ Correct Answer: (C)
over-riding preferential creditors
Financial Accounting MCQs and Notes
Q. In Interanl Reconstruction____________________
✅ Correct Answer: (B)
no company is liquidated
Q. According to AS 14, Transferor company means the company__________
✅ Correct Answer: (B)
which is amalgamated into another company
Q. Buy Back must be completed within_______________
✅ Correct Answer: (D)
12 months
Q. M LTD. Issued share at a face value of Rs. 100 with a premium of Rs.20 per share. The underwrting commission will be calculated on __________
✅ Correct Answer: (A)
rs.120
Q. Amount of retirement benefits of employees exceeding Rs.20,000 per employees is treated as____________
✅ Correct Answer: (D)
preferential creditors
Q. Equity Shareholders giving up their claim to the reserves & accumulated profit amounts to______________
✅ Correct Answer: (C)
compromise/ arrangement
Q. Accounting for Absorption is governed by______________
✅ Correct Answer: (D)
as 14
Q. Buy Back refers to______________
✅ Correct Answer: (C)
refund of equity share capital
Q. R LTD. Issued a debenture of Rs.100 each at Rs.90. The underwriting commission will be paid on___________
✅ Correct Answer: (B)
rs.90