Financial Statements of a Company Class 12 MCQs Questions with Answers

1. Which of the following is the element of financial statements?

2. The term financial statements includes

3. Which of the following is not required to be prepared under the Companies Act:

4. The assets of a business can be classified as :

5. The profit and loss disclosed by the accounts of a company is:

6. Financial statements disclose :

7. An Annual Report is issued by a company to its:

8. Equity ₹ 90,000 Liabilities ₹ 60,000 Profit of the year ₹ 20,000. Then total assets will be :

9. Statement of Profit & Loss is also called………:

10. Contingent Liabilities are exhibited under the heading:

11. Financial Statements are :

12. Preliminary Expenses are shown in the Balance Sheet under which head ?

13. Patents and copyrights fall under the category of:

14. The term current assets includes :

15. Goodwill falls under which category of assets

16. Preliminary expenses are shown in the Balance Sheet under the head:

17. Financial statements are the _______ product of accounting process.

18. Provision for Provident Funds is shown in the Balance Sheet of a company under the head :

19. Debit Balance of Profit & Loss Statement will be shown on:

20. The reserve which is created for a particular (specific) purpose and which is a charge against revenue is called: