Advanced Accounting-II MCQ | T.Y. B.Com. Sem-III Subject: –

Advanced Accounting-II MCQ | T.Y. B.Com. Sem-III Subject: –

11) At the time of liquidation of company, the liquidator has to file a statement of receipt and payment is known as

a) Statement of affairs

b) Liquidator report

c) Liquidator final statement of account

d) None of the Above

 

12) The deficiency shown by deficiency account will be equal to the deficiency revealed by

a) Liquidator final statement of account

b) Liquidator report

c) Statement of affairs

d) None

 

13) The deficiency shown by deficiency account will be equal to the deficiency revealed by

a) Liquidator final statement of account

b) Liquidator report

c) Statement of affairs

d) None

 

14) Insolvent Companies Can Be  Liquidated

a) Compulsory

b) Optional

c) Order

d) All the Above

 

 

15) A Liquidator can claim the

a) Remuneration

b) Assets

c) Dividend

d) All the Above

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16) In liquidator final statement if account, payment of preferential creditors is shown after

a) Debenture holders

b) Unsecured creditors

c) Secured creditors

d) All of the above

 

17) A company can be liquidated by .

a) Compulsory winding up by the court.

b) Voluntary winding up by the members or creditors

c) Winding up under the supervision of the court

d) All of the above

 

18) Which of the following statements is false?

a) A person eligible to be appointed as a liquidator shall be considered independent if he is eligible to be appointed as an independent director under Section 149 of Companies Act, 2013 if the corporate person is a company.

b) A person eligible to be appointed as a liquidator shall be considered independent if he is not a related party of the corporate person.

c) A person eligible to be appointed as a liquidator shall be considered independent if he has been an employee or proprietor or partner of a firm of auditors.

d) A person eligible to be appointed as a liquidator shall be considered independent if he has not been an employee or proprietor or partner of legal firm contributing 10% or more of the gross turnover of such firm. a) Financial & Non-Financial Lease

24) When one existing company acquires the business of two or more similar companies it is termed as ……….

a) Amalgamation

b) Absorption

c) Internal Reconstruction

d) External Reconstruction

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