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

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

71) In finance lease, as per As 1-19 leased asset ——–

a) Is shown in the balance sheet of lessee.

b) In the balance sheet of lessor

c) Not shown in the balance of either

d) Disclose as contingent asset by the lessee

72) When two or more existing companies go into liquidation and company is formed to take over their business it is known as —–

a) Amalgamation

b) Liquidation

c) Reconstruction

d) None of the above

 

73) When present company under an agreement purchases the other similar company, it is called —-

a) Amalgamation

b) Internal reconstruction

c) External reconstruction

d) Both a and b

74) The main object of amalgamation is ——

a) To minimize the expenses

b) To stop competition

c) To facilitate distribution

d) All of the above

75) If the net assets taken over by the company are less then purchase consideration, the difference shall be treated as ——

a) Goodwill

b) Capital reserve

c) Secret reserve

d) Liquidation

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76) Difference between book value of the liability and amount paid by the vendor is transferred to the ——

a) Profit & loss account

b) Goodwill

c) Realization account

d) None of the these

77) When the expenses of liquidation are to be borne by the purchasing company then the purchasing company debits —–

a) Vendors company’s account

b) Bank account

c) Goodwill account

d) Capital account

78) When the expenses of liquidation are to be borne by the vendor company debits —–

a) Realization account

b) Bank account

c) Goodwill account

d) None of the these

79) As per section —- of company act preferential creditors are classified

a) 532

b) 533

c) 531

d) 530

80) The amount is available after payment to unsecured creditors it will distributed to —

a) Preference share holders then Equity share holders

b) Equity share holders then Preference share holders

c) Preference share holders then Debenture holders

d) None of above

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1. Marketing Management MCQs
2.  Digital Business Management MCQs
3.  Cost Accounting MCQs
4.  Join Our Telegram Channel