Financial statements of a company Quiz-2

share capital of a company consist of 70,000 shares of ₹ 10 each, ₹ 8 called up. All the shareholders have duly paid up the called amount. Share capital will be shown as

• subscribed and fully paid
• subscribed but not fully paid
• both (a) and (b)
• none of the above

'claims against company not acknowledged as debt' is shown under

• current liability
• contingent liability
• non current liability
• capital commitment

15% Debentures in the companies balance sheet is shown under the sub-head

• long term provisions
• other current liabilities
• long term borrowings
• other long term liabilities

''interest accrued on investment'' is shown under the companies balance sheet under the main head

• non current investment
• current assets
• other current assets
• other non-current assets

11% Debentures redeemable within 12 months of the date of balance sheet will be shown under:

• short term borrowings
• short term provisions
• other current liabilities
• trade payables

which of the following item is shown under the head "current assets" while preparing companies balance sheet

• investment in property
• trade receivables
• inventories
• vehicles

while preparing balance sheet of a company, security premium is shown under

• non current liability
• share capital
• long term borrowings
• reserves and surplus

calls in advance appear in the balance sheet under

• current liability
• share capital
• long term-borrowings
• reserves and surplus

----------------- appears in a companies balance sheet under the sub- head: short-term provisions:

• interest accrued and due on borrowings
• provision for tax
• unpaid dividents
• calls in advance

schedule III has prescribed ------------- format for preparation of balance sheet

• horizontal
• vertical
• both horizontal and vertical
• none of the above