WorksheetsBanking Company Accounts Quiz
Total questions: 25
Worksheet time: 13mins
The final accounts of a banking company are prepared as per
Companies Act, 2013
Banking Regulation Act, 1949
RBI Act, 1934
Income Tax Act
The balance sheet of a banking company is prepared in
Horizontal form
Vertical form
Account form
Any form
The balance sheet format of banks is given in
Schedule VI of Companies Act
Schedule III of Companies Act
Third Schedule of Banking Regulation Act
RBI Circular
Which of the following is a liability of a bank?
Cash in hand
Loans and advances
Deposits
Bills discounted
Which item appears under “Assets” in a bank balance sheet?
Reserves and surplus
Borrowings
Cash and balances with RBI
Capital
Non-Performing Asset (NPA) means
Asset yielding regular income
Asset not producing income
Asset purchased recently
Asset fully secured
An advance becomes NPA when interest or instalment remains overdue for more than
30 days
60 days
90 days
120 days
Which of the following is NOT a type of NPA?
Sub-standard asset
Doubtful asset
Loss asset
Fixed asset
Sub-standard asset is one which remains NPA for a period not exceeding
6 months
12 months
18 months
24 months
Rebate on Bills Discounted represents
Income earned
Unearned income
Capital receipt
Provision
Rebate on Bills Discounted is shown on
Asset side
Liability side
Debit side of P&L
Credit side of P&L
Interest on NPAs should be
Accrued
Ignored
Recognised only on realisation
Transferred to reserve
Which account is credited for rebate on bills discounted?
Bills Discounted A/c
Profit and Loss A/c
Rebate on Bills Discounted A/c
Interest Received A/c
Profit and Loss Account of a bank shows
Gross profit only
Net profit only
Income and expenditure
Assets and liabilities
Interest earned by banks is shown under
Other income
Operating income
Interest earned
Commission income
Commission, exchange and brokerage are shown under
Interest earned
Other income
Operating expenses
Provisions
Provision for NPAs is shown in
Assets side
Liabilities side
Profit and Loss Account
Capital account
Bills discounted and purchased appear under
Cash balance
Investments
Advances
Other assets
Which of the following is NOT included in “Other Liabilities and Provisions”?
Bills payable
Provision for tax
Inter-office adjustments
Cash in hand
Acceptances and endorsements on behalf of customers are shown as
Assets
Liabilities
Contingent liabilities
Capital
Balance with RBI includes
Cash reserve ratio
Statutory liquidity ratio
Call money
Term deposits
Which item is shown under “Reserves and Surplus”?
Capital reserve
Bills payable
Rebate on bills discounted
Acceptances
Profit before tax is arrived at after
Adding provisions
Deducting provisions
Ignoring provisions
Transferring reserves
Which of the following is an expense of a bank?
Interest on advances
Interest on investments
Interest on deposits
Commission received
Banking companies are required to publish their accounts
Monthly
Quarterly
Half-yearly
Annually
