Company Final Accounts MCQ
Table of Contents
1. The form of balance sheet is………………..
2. The term current asset doesn’t cover
3. P&L statement is also known as
4. Which of the following is true about financial statements?
I)Financial statement gives a summary of accounts. II) Financial statements can be stated as recorded facts.
5. The statement of financial position and the balance sheet are synonyms
Also Read :-
6. Which of the following statements are true?
I) Financial statements are only interim report. II) Financial statements are also known as annual records. III) Financial statements are historic.
7. Certain assumptions are essential to prepare financial statements.
8. Premium received on issue of shares cannot be utilised for ———.
9. In case of public limited company, after getting the———–the company can start the business
10. Trade Payables are recorded in………………….
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