Financial Statements 1

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.

View Details

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.

View Details

Financial Statements 1

For a financial company, interest on loans given is shown in the statement of profit and loss as

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.

View Details

Financial Statements 1

Which of the following is not included under ‘revenue from operations’ in the statement of profit and loss?

Interest income 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.

View Details

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.

View Details

Financial Statements 1

The financial statements provide basic input for industrial, taxation and other economic policies of the government.

True 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.

View Details

Financial Statements 1

Financial statements are useful for both short-term and long-term investors.

True 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.

View Details

Financial Statements 1

How do financial statements serve purpose of lenders?

Lenders take decisions based on the 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.

View Details

Financial Statements 1

Loose tools are shown as non-current assets in the balance sheet of a company.

False 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.

View Details

Financial Statements 1

Preliminary expenses are treated as ‘short-term borrowings’ in the balance sheet of a company.

False 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.

View Details

Financial Statements 1

Under which of the following head/ sub-head is ‘forfeited shares’ presented in the balance sheet of a company?

Share capital 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.

View Details

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.

View Details