Accountancy MCQ Class 12 Chapter 8: Check the below NCERT MCQ Questions for Accountancy MCQ Class 12 Chapter 8 with Answers Pdf free download. Accountancy MCQ Class 12 Chapter 8 Questions for Accountancy with Answers were prepared based on the latest exam pattern. We have provided Accountancy MCQ Class 12 Chapter 8 with Answers to help students understand the concept very well.

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Accountancy MCQ Class 12 Chapter 8

1. Debentures are shown in the balance sheet under the head of _____.
(a) Short-term loan
(b) Secured loan
(c) Current liability
(d) Share capital

2. The profit and loss disclosed by the accounts of a company is:
(a) Transferred to share capital account
(b) Shown under the head of ‘Current liabilities’ and provisions
(c) Shown under the head ‘Reserves and Surplus
(d) None of these

3. Current assets on the assets side of the balance sheet of a company include ______.
(a) Sundry debtors
(b) Cash in hand
(c) Stock
(d) All of the above

4. The assets of a business can be classified as :
(a) Fixed and Non-fixed Assets
(b) Tangible and Intangible Assets
(c) Non-Current and Current Asset
(d) None of these

5. The term financial statements includes :
(a) Statement of Profit & Loss
(b) Balance Sheet
(c) Statement of Profit & Loss and Balance Sheet
(d) None of these

6. Goodwill of a company is shown on the assets side of the balance sheet under the head of _________.
(a) Current assets
(b) Non-current assets
(c) Miscellaneous expenditure
(d) None of the above

7. Financial statements disclose :
(a) Monetary information
(b) Qualitative information
(c) Non-monetary information
(d) All the above

8. Securities premium account is shown on the liabilities side in the balance sheet under the heading of _______.
(a) Reserves and surplus
(b) Current liabilities and provisions
(c) Share capital
(d) Contingent liabilities

9. Preliminary expenses are shown in the Balance Sheet under the head:
(a) Non-current assets
(b) Current assets
(c) Non-current liabilities
(d) Deducted from securities premium reserve

10. Under which heading of the balance sheet is general reserve shown?
(a) Miscellaneous expenditure
(b) Share capital
(c) Reserves and surplus
(d) None of the above

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