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

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

31) If Realisation expenses are included in purchase consideration, old company will debit such expenses to..

a) Realisation A/c

b) Profit & Loss A/c

c) Goodwill A/c

d) No Entry

32) If Realisation expenses are paid by old company but born by new company – old company will debit to …

a) Realisation A/c

b) Profit & Loss A/c

c) New Company A/c

d) Goodwill A/c

33) Excess of Net Asset over P.C. will transfer to …………..

a) Goodwill A/c

b) Capital Reserve A/c

c) Profit & Loss A/c

d) Old Company A/c

34) The nature of dividend Equalization Fund is …………….

e) Current Liability

f) Reserve & Supplies

g) Current Assets

h) Investment

35) The nature of Provident Fund is ………………..

a) Reserve & Supplies

b) Current Liability

c) Provision

d) Secured Loan

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36) Realisation profit is credited to ……………..

a) Debenture Holder’s A/c

b) Preference Shareholder A/c

c) Equity Shareholder A/c

d) None

37) In the books of new company Share Capital & Debenture account are credited at …………….

a) Agreed value of Share / Debenture

b) Random Value

c) Par value of Share / Debenture

d) Market Value

38) When expenses of liquidation – paid by purchasing company the purchasing company will debit to ………

a) Realisation A/c

b) Profit & Loss A/c

c) Old Company A/c

d) Goodwill A/c

39) A S – 14 recognize purchase consideration payable to ………….

a) Shareholders

b) Debenture holders

c) Creditors

d) All the above

Also Read :-

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