18.10.2023- Financial Statements

On balance sheet, accruals, notes payable, and account payable are listed under which category?

• Current Liabilities

• Non Current Liabilities

• Accumulated Liabilities

• Accrued Liabilities

Debit balance to the account of A, who is a customer - In Balance Sheet it will be shown as ____

• Sundry Debtors

• Sundry Creditors

• Trades Payable

• Bills Payable

Company has incurred a loss of Rs.10.00 lacs during FY 2021-2022. Under which head the loss of Rs.10.00 lacs will appear in Balance sheet?

• Current Liability

• Current Assets

• Term Liability

• Intangible Assets

In a Balance sheet, Total Assets are Rs. 15 lakh and Total Outside Liabilities are Rs.10 lakh. what could be the owner's capital?

• Rs. 25 Lakh

• Rs. 5 Lakh

• Rs. 7.50 Lakh

• Rs. 10 Lakh

A company has total assets of Rs.100 lacs and a Net worth of Rs.20.00 lacs. can you guess the leverage ratio i.e. TOL/ATNW of the company?

• 4

• 5

• 6

• 2.25

Fixed Assets Coverage Ratio (FACR) indicates ______

• Total fixed assets that are created in the business

• Total fixed assets in relation to current assets

• Number of times the value of net fixed assets covers term liabilities

• Number of times the gross block covers term liabilities

Owner's Equity 10 lakh, Creditors 8 lakh, TL 12 lakh, Debtors 6 lakh, FA 4 lakh, Investment in Group Co. 7 lakh, stock 8 lakh, software 5 lakh. Please calculate ATNW?

• Rs. 24 Lakh

• Rs. 3 Lakh

• Rs. 10 Lakh

• (Rs. 2 Lakh)

Contingent liability is shown as _____

• A foot note in Balance sheet

• A term liability in the Balance Sheet

• A current liability in the Balance Sheet

• In profit & Loss Account

Total Assets of a firm is Rs 80 lakh. Its net worth and term liabilities are Rs 15 and 20 lakh respectively. calculate current liability?

• Rs. 35 Lakh

• Rs. 45 Lakh

• Rs. 115 Lakh

• Rs. 65 Lakh

Which of the following will not be treated as part of Current Assets in case of Working capital assessment?

• Stock in process

• Advances to supplier of capital goods

• Advances to supplier of Raw Material

• Credit Balance in Cash Credit Account