Financial Statements of Companies Class 12 MCQs Questions with Answers

1. Balance sheet of a company is required to be prepared in the format given in ………………………

2. Trade Investments appear in a Company’s Balance Sheet under the Sub-head ………………….

3. Calls in advance appear in a Company’s Balance Sheet under ………………..

4. According to prescribed order of assets in a Company’s Balance Sheet ……………………… assets should be shown first of all.

5. Securities Premium Reserve appears in a Company’s Balance Sheet under :

6. Goodwill appears in a Company’s Balance Sheet under the Sub-head ………………….

7. Prepaid Expenses appear in a Company’s Balance Sheet under the Sub-head ………………

8. Expenses allowed on issue of shares appears in a Company’s Balance Sheet under :

9. Provision for Tax appears in a Company’s Balance Sheet under the Sub-head ……………………

10. In a Company’s Balance Sheet …………………. appear under the head ‘non-current assets’.

11. Bills Receivables appear in a Company’s Balance Sheet under the Sub-head ……………………..

12. Short-term Borrowings appear in a Company’s Balance Sheet under the head …………………..

13. Fixed Deposits appear in a Company’s Balance Sheet under :

14. Calls in Arrears appear in a Company’s Balance Sheet under ………………..

15. ‘Claims against the Company not acknowledged as debts’ is shown under the head ……………….

16. Which of the following is not required to be prepared under the Companies Act

17. Unclaimed dividend appears in a Company’s balance Sheet under the Sub-head ………………

18. Share Forfeiture Account appears in a Company’s Balance Sheet under the Sub-head ……………….

19. …………… appear in a Company’s Balance Sheet under the Sub-head Short-term Provision

20. As per Companies Act, the Balance Sheet of a company is required to be presented in ………………………