Find Your Free Essay Examples

Important Questions Class 12 Accountancy Chapter 10 Financial Statement A Company

Free PDF download of Important Questions for CBSE Class 12 Accountancy Chapter 10 Financial Statements Of A Company prepared by expert Accountancy teachers from latest edition of CBSE(NCERT) books, On StudySolver.Org to score more marks in CBSE board examination. You can also Download  Accountancy Revision Notes Class 12  to help you to revise complete Syllabus and score more marks in your examinations.

1: Under which major sub-heading the following items will be placed in the Balance Sheet of a Company as per Schedule-VI, Part I of the Companies Act, 1956 : (i)Accrued Incomes (ii)Loose Tools (iii)Provision for employees benefits (iv)Unpaid dividend (v)Short-term loans (vi)Long-term loans Solution :

2: List the items which are shown under the heading, ‘Current As-sets’ in the Balance Sheet of a company as per provisions of Schedule VI, of the Companies Act, 1956. Solution : (a)  Current Investments (b)  Inventories (c)  Trade Receivables (d)  Cash and cash equivalents (e)  Short-term loans and advances (f)  Other Current Assets

3: Name the major headings under which the equity and liabilities side of a company’s Balance Sheet is organized and presented. Solution : The major headings on the Equity and Liabilities side are : I.  Shareholder’s funds II.  Share Application money pending allotment III.  Non Current Liabilities IV.  Current Liabilities

4: List the items that are included under Inventories. Solution : (i)  Raw materials (ii)  Work-in-progress (iii)  Finished goods (iv)  Stock-in-trade (v)  Stores and spares (vi)  Loose tools

Your email address will not be published. Required fields are marked *

Save my name, email, and website in this browser for the next time I comment.

Accrued Incomes   Loose tools Provision for Employees benefits Unpaid Dividends Short-term loans   Long-term loans  

Other Current Assets  Inventories Long-term provisions Other Current Liabilities Short-term borrowings/Short-term loans and advances Long-term borrowings/Long-term loans and advances