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

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

1) Voluntary winding up:

a) If period fixed for the company is expired.

b) If company passes a special resolution the company wound up voluntarily.

c) Members voluntary winding up is applicable to solvent companies only.

d) All of the above

2) Compulsory winding up:

a) If a company unable to pay its debt

b) If the number of members of company reduced below statutory limit.

c) If a company does commence its business within a year from its incorporation.

d) All of the above.

3) The first item in order of payment to be made by liquidator is:

a) Secured creditors

b) Preferential creditors

c) Liquidation expenses

d) Preferential creditors

4) Liquidator’s statement of receipts and payment is know as:

a) Cash flow statement

b) Cash book

c) Liquidator’s final statement of account

d) Deficiency account

5) The liquidator final statement of account is prepared

a) Only in case of creditor voluntary winding up

b) Only in case of members voluntary winding up

c) Only in case of compulsory winding up

d) Whatever may be

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6) When the liquidator company has adequate cash to pay off all liabilities, the interest on liabilities will be paid

a) Up to date of commencement of insolvency

b) Up to date of actual payment

c) Up to date of payment to share holders

d) None of these

7) The Job of Realizing Assets and Paying Liabilities Is Performed by A Person

a) Liquidator

b) Auditor

c) Registrar of the Company

d) None of the above

8) At the time of liquidation of company, the liquidator has to file a statement of receipt and payment is known as

a) Statement of affairs

b) Liquidator report

c) Liquidator final statement of account

d) None of the Above

9) At the time of liquidation of company, the liquidator has to file a statement of receipt and payment is known as

a) Statement of affairs

b) Liquidator report

c) Liquidator final statement of account

d) None of the Above

10) At the time of liquidation of company, the liquidator has to file a statement of receipt and payment is known as

a) Statement of affairs

b) Liquidator report

c) Liquidator final statement of account

d) None of the Above

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