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

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

51) Under amalgamation / absorption payment of contingent liability is debited to ………….

a) Profit & Loss A/c

b) Capital Reduction A/c

c) Goodwill A/c

d) Realisation A/c

52) In case of Internal Reconstruction payment of contingent liability is debited to ………….

a) Profit & Loss A/c

b) Capital Reduction A/c

c) Realisation A/c

d) Other

53) Any gain on payment of liability under External Reconstruction is credited to …………..

a) Capital Reserve A/c

b) Capital Reduction A/c

c) Realisation A/c

d) Profit & Loss A/c

54) Realisation of unrecorded asset under absorption is credited to ……………

a) Capital Reserve A/c

b) Profit & Loss A/c

c) Realisation A/c

d) Capital Reduction A/c

55) Realisation of unrecorded asset under Internal Reconstruction is credited to …………..

a) Capital Reserve A/c

b) Profit & Loss A/c

c) Realisation A/c

d) Capital Reduction A/c

Also Read :-

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

56) Increase in value assets under Internal Reconstruction is credited to …………..

a) Profit & Loss A/c

b) Capital Reduction A/c

c) Realisation A/c

d) Other

57) Decrease in Value assets under Internal Reconstruction is debited to …………..

a) Capital Reserve A/c

b) Profit & Loss A/c

c) Realisation A/c

d) Capital Reduction A/c

58) Increase in Value liability under Internal Reconstruction is debited to …………..

a) Profit & Loss A/c

b) Goodwill A/c

c) Capital Reduction A/c

d) None

59) Decrease in value liability under Internal Reconstruction is credited to …………..

a) Profit & Loss A/c

b) Capital Reduction A/c

c) Realisation A/c

d) Capital Reserve A/c

60) Reserve for doubtful debt on debtors under internal Reconstruction is debited to ………………..

a) Profit & Loss A/c

b) Goodwill A/c

c) Capital Reduction A/c

d) None

Also Read :-

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