( Best 50+ ) Accounting Standards MCQ

by Mr. DJ

Accounting Standards MCQ

Table of Contents

Accounting Standards MCQ

Accounting Standards MCQ

31. Excess of paid up value of the shares over cost of investment is considered as:

A. Goodwill

B. Capital Reserve

C. Minority Interest

D. Non of above

32. Profit earned after acquisition of share is treated as

A. Capital profit

B. Revenue profit

C. General Reserve

D. Revaluation Loss

33. Preparation of consolidated statement as per AS 21 is

A. Optional

B. Mandatory for listed Companies

C. Mandatory for Pvt. L

34. Holding Co. share in revenue profits of subsidiary company is adjusted in :

A. Cost of control

B. Shown on Assets side of Balance sheet

C. Profit and loss account

D. None of above

35. Unrealised profit on goods sold and included in stock is deducted from :

A. Capital Profit

B. Revenue Profit

C. Fixed Assets

D. Minority interest

36. Face value debentures of subsidiary co. held by Holding Company is deducted from

A. Debentures

B. Cost of control

C. Minority interest

D. Debentures in consolidated balance sheet

37. Which of the following statement is true:

A. There is no change in the amount of capital reserve before and after issue of bonus share of the issue is made from out of pre-acquisition profit.

B. There is change in the amount of capital reserve before and after issue of bonus share of the issue is made from out of post-acquisition profit.

C. There is change in the amount of capital reserve before and after issue of bonus share of the issue is made from out of pre-acquisition profit.

D. There is no connection between the issue of bonus shares and the calculation of capital reserve.

38. Minority Interest includes :

A. Share in share capital

B. Share in Capital profit

C. Share in Revenue profit

D. All of the above

39. The Time interval between the date of acquisition of shares in subsidiary company and date of Balance Sheet of Holding Company is known as :

A. Pre-acquisition period

B. Post-acquisition period

C. Pre-commencement period

D. Pre-incorporation period

40. Pre-acquisition dividend received by Holding company is credited to

A. Profit & loss A/c

B. Capital profit

C. Investment A/c

D. Non of the above

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