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Corporate Accounting MCQs: 765 Questions & Answers in Faculty

765 Corporate Accounting MCQs in Faculty with answers & explanations. Page 25. Practice objective questions for competitive exams, interviews & self-assessme… Use the answer toggle below to show or hide all solutions, tap an option to check one question, or open a question for its own page.

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Corporate Accounting MCQs: 765 Questions & Answers in Faculty

The party whose risk is covered in insurance is known as ……….

……………is the party who undertakes the risk in insurance.

The consideration in insurance for covering the risk is called ………….

The agreement of insurance is called as ………..

………is a form of agreement between two parties in which one party agrees to make good for loss of another.

Assets are NPAs for a period exceeding 12 months are called ………….

Assets are NPAs for a period not exceeding 12 months are called ………….

Acceptance, endorsements and other obligations come under the head…

………… is shown under Schedule 15.

Schedule 1 is concerned with ………….

Amalgamation adjustment account is opened in the books of Transferee Company to incorporate …………..

Pooling of interest method is used in the case of ……………..

NPA stands for………….

The purchase of an existing company which goes into liquidation by another existing company is known as …………..

Rebate on bills discounted is ………..

In …..., a new company is formed to take over the business of an existing company which goes into liquidation.

Banks show the provision for income tax under the head ……….

Purchase consideration is payable to …………..

…….of profit is transferred to statutory reserves.

…………….is the company into which a company is amalgamated.

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