#financial reporting

Theory Base of Accounting

Which of the following points out the nature of financial statements? (i) Financial statements are prepared on the basis

(i), (ii), (iiii) and (iv) correct per NCERT Theory Base of Accounting; matches accountancy concept accurately.

Ref: NCERT Accountancy Class XI Chapter 2 Theory Base of Accounting covers GAAP accounting principles concepts conventions standards clearly explained.

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Financial Statements 2

Goodwill Given in the old Balance Sheet will be:

Written off by the old partners financial statements correct; Schedule III format Companies Act 2013.

Ref: NCERT Accountancy Class XI Chapter 9 Financial Statements explains trading profit loss balance sheet preparation format Schedule III.

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Financial Statements 2

Public deposits appear under which of the following head in a company’s balance sheet?

Non-current liabilities financial statements correct; Schedule III format Companies Act 2013.

Ref: NCERT Accountancy Class XI Chapter 9 Financial Statements explains trading profit loss balance sheet preparation format Schedule III.

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Financial Statements 2

How are financial statements beneficial to owners of a company? (i) Financial statements report the performance of the m

Both (i) and (ii) financial statements correct; Schedule III format Companies Act 2013.

Ref: NCERT Accountancy Class XI Chapter 9 Financial Statements explains trading profit loss balance sheet preparation format Schedule III.

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Financial Statements 2

Which of the following is not presented under ‘current liabilities’ in the balance sheet of a company?

Deferred tax liabilities financial statements correct; Schedule III format Companies Act 2013.

Ref: NCERT Accountancy Class XI Chapter 9 Financial Statements explains trading profit loss balance sheet preparation format Schedule III.

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Financial Statements 1

Read the following case study and answer the question on the basis of the same. XYZ Ltd. is a financial company. For the

Revenue from Operations financial statements correct; Schedule III format Companies Act 2013.

Ref: NCERT Accountancy Class XI Chapter 9 Financial Statements explains trading profit loss balance sheet preparation format Schedule III.

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Financial Statements 1

Which of the following item can be presented on the asset side of the balance sheet of a company?

Both (a) and (c) financial statements correct; Schedule III format Companies Act 2013.

Ref: NCERT Accountancy Class XI Chapter 9 Financial Statements explains trading profit loss balance sheet preparation format Schedule III.

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Financial Statements 1

Company’s balance sheet should be prepared according the provision of ______ of the of Companies Act, 2013.

ScheduleI III financial statements correct; Schedule III format Companies Act 2013.

Ref: NCERT Accountancy Class XI Chapter 9 Financial Statements explains trading profit loss balance sheet preparation format Schedule III.

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Financial Statements 1

Which of the following capitals is shown in the company’s balance sheet?

Subscribed and Fully Paid Up financial statements correct; Schedule III format Companies Act 2013.

Ref: NCERT Accountancy Class XI Chapter 9 Financial Statements explains trading profit loss balance sheet preparation format Schedule III.

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Financial Statements 1

Which of the following is shown under assets side of a company’s balance sheet?

Non-current investments financial statements correct; Schedule III format Companies Act 2013.

Ref: NCERT Accountancy Class XI Chapter 9 Financial Statements explains trading profit loss balance sheet preparation format Schedule III.

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Financial Statements 1

In a Balance sheet, income accrued but not received is shown as _____.

Assets financial statements correct; Schedule III format Companies Act 2013.

Ref: NCERT Accountancy Class XI Chapter 9 Financial Statements explains trading profit loss balance sheet preparation format Schedule III.

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Company Accounts 2

An annual report is furnished by a company to its :

Shareholders company accounts correct; share issue forfeiture pro-rata per Companies Act.

Ref: NCERT Accountancy Class XII Chapter 6 Company Accounts explains company formation share capital issue accounting treatment Companies Act 2013 provisions.

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