Worksheetscorporate accounts
Total questions: 15
Worksheet time: 8mins
What is liquidation of a company?
voluntory winding up
compulsory winding up
both 1st and 2nd
none
What is statement of affairs?
Assets of the company stating separately the cash balance
Debts and liabilities
provided to the creditors
none
What is liquidators final statement Accounts?
It is prepared by liquidator
it shows receipts and payments of a company
voluntary winding up
compulsory as companies Act
what is Amalgamation?
When Assets realised in the books of Transferor what is the entry?
When purchase consideration received in the books of transferor what is the entry?
internal reconstruction means
Capital reduction
Reorganisation
reducing
decreasing
Statutory Reserve is which schedule?
2
1
14
12
Bills Purchased comes under which schedule?
8
7
9
5
Income from investments comes under which schedule?
11
10
6
13
Advertisement and Publicity comes under which schedule in bank accounts?
4
2
16
13
Profit on sale of investments comes under which schedule?
3
4
14
13
Intrest on deposits and bank borrowings which schedule?
11
14
16
15
which expense comes under schedule 12?
Guarentee
interoffice
Contingent liabilities
claims
Schedule 6 and 7 gives in balance sheet as
Cash in hand
Balances with banks
investments
debentures
