Financial Statements of Companies

Commerce ⇒ Accountancy

Financial Statements of Companies starts at 12 and continues till grade 12. QuestionsToday has an evolving set of questions to continuously challenge students so that their knowledge grows in Financial Statements of Companies. How you perform is determined by your score and the time you take. When you play a quiz, your answers are evaluated in concept instead of actual words and definitions used.

See sample questions for grade 12

Define 'Share Capital' as per the financial statements of a company.

Explain the difference between 'Equity Share Capital' and 'Preference Share Capital'.

Explain the meaning of 'Deferred Tax Liability' and its treatment in the Balance Sheet.

Explain the meaning of 'Earnings Per Share' (EPS) and its significance in the financial statements of a company.

Explain the term 'Contingent Liabilities' with an example.

A company has Net Profit before Tax of Rs. 5,00,000. Provision for Tax is Rs. 1,00,000. What is the Net Profit after Tax?

A company has the following balances as on 31st March 2024: Equity Share Capital Rs. 10,00,000; Securities Premium Rs. 2,00,000; General Reserve Rs. 1,50,000; Retained Earnings Rs. 50,000. What is the total amount to be shown under 'Other Equity'?

A company has the following balances: Inventories Rs. 2,00,000; Trade Receivables Rs. 1,50,000; Cash and Cash Equivalents Rs. 50,000; Short-term Loans and Advances Rs. 1,00,000. What is the total amount of Current Assets?

Which of the following is a non-cash item shown in the Statement of Profit and Loss? (1) Depreciation (2) Salaries (3) Purchases (4) Sales

Which of the following is NOT a component of the financial statements of a company as per Schedule III of the Companies Act, 2013? (1) Balance Sheet (2) Statement of Profit and Loss (3) Cash Flow Statement (4) Statement of Changes in Equity (5) Notes to Accounts (6) Director’s Report

Which of the following is NOT a current asset? (1) Inventories (2) Trade Receivables (3) Cash and Cash Equivalents (4) Plant and Machinery

Which of the following is NOT a part of 'Current Assets'? (1) Inventories (2) Trade Receivables (3) Cash and Cash Equivalents (4) Long-term Investments

Fill in the blank: The amount of 'Interest Accrued but not due on Debentures' is shown under ________ in the Balance Sheet.

Fill in the blank: The amount of 'Outstanding Expenses' is shown under ________ in the Balance Sheet.

Fill in the blank: The amount of 'Preliminary Expenses' not written off is shown under ________ in the Balance Sheet.

Fill in the blank: The amount of proposed dividend is shown under ________ in the Balance Sheet as per Companies Act, 2013.

Is 'Capital Reserve' created out of capital profits? (Yes/No)

Is 'Prepaid Expenses' shown under 'Other Current Assets' in the Balance Sheet? (Yes/No)

Is 'Securities Premium Reserve' shown under 'Reserves and Surplus' in the Balance Sheet? (Yes/No)

Is 'Share Application Money Pending Allotment' shown under 'Equity and Liabilities' in the Balance Sheet? (Yes/No)