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

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

61) Under amalgamation in the nature of merger Reserve & Surplus are transferred to ……………

a) Realisation A/c

b) Equity Share Holder A/c

c) Profit & Loss A/c

d) Other

 

 

62) Under amalgamation in the nature of purchase Reserve & Surplus are transferred to ……………

a) Realisation A/c

b) Equity Share Holder A/c

c) Profit & Loss A/c

d) Other

 

 

63) Internal obligation / Internal indebtedness is to be eliminated under ………………..

a) Amalgamation

b) Absorption

c) External Reconstruction

d) Internal Reconstruction

 

64) Unrealized profit is the profit, included in …………………

a) Debtors

b) Stock

c) Cash

d) Current Asset

 

65) If agreed value of shares allotted is lower than face value, such difference is debited to …………….

a) Profit & Loss A/c

b) Discount on Issue of Share

C) Share Capital

D) Other

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66) Under Amalgamation / Absorption, any profit / loss on Realisation in old company is recorded in ……………

a) Capital Reduction A/c

b) Profit & Loss A/c

c) Realisation A/c

d) Goodwill A/c

 

67) Under Amalgamation / Absorption any surplus or deficit in new company is recorded in …………………

a) Profit & Loss A/c

b) Realisation A/c

c) Capital Reduction A/c

d) Goodwill / Capital Reserve

 

 

68) Which of the following is included in minimum lease payments?

a) Any residual value guaranteed by the Lessee

b) Contingent rent

c) Cost for services and taxes to be paid-by and reimbursed to lessor

d) All of the above

 

89) Inception of lease is ——-

a) Date of lease agreement

b) Date of commitment by the parties to the principal provisions of the lease

c) A and b whichever is earlier

d) The date of payment of first lease payment

 

70) Depreciation on leased assets is governed by ———

a) As-6[Revised]

b) As-10

c) As-19

d) Income tax Act.1961

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