Account class 12 Financial Statements of a Company

1. Shares on which the company has not called the entire nominal value is shown in the note to account on share capital under subscribed capital as ;

Subscribed and fully paid up

Subscribed but not fully paid up

None of the above

Any of the above

2. Share on which the company has called the entire nominal value and has also received it is shown in the notes to accounts on share capital under subscribed capital as ;

Subscribed and fully paid up

Subscribed but not fully paid up

None of the above

Any of the these

3. Shares on which the company has called the entire nominal value but has not received final call of Rs 2 on 500 shares, the shares on which the final call is not received are shown in the note to accounts on share capital under subscribed capital as ;

Subscribed and fully paid up

Subscribed but not fully paid up

None of the above

Any of the above

4. Debentures redeemable after 10 year of issue are shown as ;

Long term borrowings

Other long term liabilities

Short term borrowing

Other short term liabilities

5. 1000; 10% debentures of Rs 100 each out of 10,000, 10% debentures are redeemable within the 12 month of the date of balance sheet. they will be shown in the current liabilities as ;

Short term borrowings

Other current liabilities

Trade payables

Short term provisions

6. Securities premium reserve is shown on the liabilities side in the balance sheet under the head ;

Reserve and surplus

Current liability

Share capital

None of the above

7. Indicate the items which appears as short term provision ;

Provision for expenses

Interest accrued but not due

Employees provident fund

None of the above

8. Dividend is paid on ;

Authorized capital

Issued capital

Subscribed capital that is paid up

None of the above

9. Debentures are shown in the balance sheet under the head of ;

Other long term liabilities

Current liabilities

Long term borrowings

Long term provisions

10. Revenue from sale and goods manufactured is shown in the statement of profit and loss as ;

Revenue from operations

Other income

Any of the above

None of the above

11. Revenue from sale of stock in trade is shown in the statement of profit and loss as ;

Revenue from operations

Other income

Any of the above

None of the above

12. Revenue from sale of scrap from goods manufactured is shown in the statement of profit and loss as ;

Revenue from operations

Other income

Any of the above

None of the above

13. Interest income of a non financial company is shown in the statement of profit and loss as ;

Revenue from operations

Other income

Any of the above

None of the above

14. Gain profit on sale of fixed asset by a financial company is shown in the statement of profit and loss as ;

Revenue from operations

Other income

Any of the above

None of the above

15. Dividend earned by a financial company is shown in the statement of profit and loss as ;

Revenues from operations

Other income

Any of the above

None of the above

16. Interest on loans given by a financial company is shown in the statement of profit and loss as ;

Revenue from operations

Other income

Any of the above

None of the above

17. Raw material purchased is shown in the statement of profit and loss as ;

Purchases of stock in trade

Cost of material consumed

None of the above

18. Purchase of goods for reselling is shown in the statement of profit and loss under ;

Cost of material consumed

Purchases of stock in trade

None of the above

19. Wages paid to workers is shown in the statement of profit and loss under ;

Cost of material consumed

Other expenses

Employee benefit expenses

Any of the above

20. Salaries paid to office staff is shown in the statement of profit or loss under ;

Cost of material consumed

Other expenses

Employee benefit expenses

Any of the above

21. Electricity expenses are shown in the statement of profit and loss under ;

Cost of material consumed

Other expenses

Employees benefit expenses

Any of the above

22. Carriage inwards is shown in the statement of profit and loss under ;

Cost of material consumed

Other expenses

Employee benefit expenses

Any of the above

Question 1 of 22

Account class 12 Financial Statements of a Company

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