NCERT Class 12 Accountancy Part 2 Chapter 3 Financial Statements of a Company Extra Questions and Answers
Class 12 Accountancy Part 2 Chapter 3 Extra Questions and Answers – Financial Statements of a Company. Here in this Page Class XII Students can Learn Extra Questions & Answer 3rd Chapter Accountancy Part 2 fully Inside.
We Provided Here Financial Statements of a Company Accountancy Part 2 Chapter 3 Very Short Type Questions and Short Type Questions.
Board |
NCERT |
Class |
12 |
Book Title |
Accountancy Part II |
Chapter |
3 |
Chapter Name |
Financial Statements of a Company |
Topic |
Extra Questions |
(Q1) What does “change in inventory” implies?
Ans: “Change in inventory” implies to the differences between the open inventory and closing inventory.
In case you are missed :- Previous Chapter Extra Questions
(Q2) Under which head does debentures comes while preparing balance sheet of a company?
Ans: Debentures are shown under “Long term Borrowings” of a company’s balance sheet.
(Q3) What kind of expense is “Underwriting commission”?
Ans: “Under writing commission is an unamortized expenditure for a company.
Also see: Financial Statements of a Company mcq question and answer
(Q4) Define “Proposed divined”
Ans: It is the dividend that is proposed by the board of directors in the Annual general meeting and is declared or approved by the shareholders.
(Q5) State the treatment of “Discount on issue of Debentures” in preparing financial statement of the company.
Ans: Borrowing cost i.e. – discount on issue of debentures should be written off in the same year in which debentures are issued.
(Q6) How do you treat “preliminary Expenses” in preparing of financial statement of a company?
Ans: Preliminary expenses should be written off in the present year from “securities premium” A/c and if not sufficient then from P/l account of the company.
In case you are missed :- Next Chapter Extra Questions