Prof. Manisha R. Nikam
Sanjivani ACS College, Kopargaon
Subject: Advanced Accounting (352)
Class: T. Y. B. Com
Question Bank
Advanced accounting (objective types question)
1) on which day does the accounting year of a banking
company end every year?
A) 31st
december
B) 31st
march
C) 30th
june
D) 1st
april
2) what does accounting standard-15 stand for?
A) Accounting
for government grants
B) Employee
benefits
C) Segment
reporting
D) Leases
3) accounting standard-19 stands for what?
A) Leases
B) Earning
per share
C) Consolidated
financial statements
D) Accounting
for taxes on income
4) what is mean by ‘npa’
AA) Not
profit assets
BB) Non-performing
assets
CC) A
& b
D D) Non
banking assets
5) which section of banking regulation act provides
for preparation of bank’s final account in prescribed forms?
A) Section
29
B) Section
28
C) Section
27
D) Section
26
6) accounting standard 3 stands for what?
B) Construction contracts
C) Interim financial reporting
D) Cash flow statements
7) what are the other names for unexpired discount?
A) Discount Paid in advance
B) Rebate
on bills discounted
C) A
& b
D) None
of the above
8) accounting
standard 18 stands for what?
B) Earning per share
C) Consolidated financial statements
D) Accounting for taxes on income
9) what is the percentage of profit transfer to the
statutory reserve by the bank every year?
B) 25%
C) 30%
D) 15%
10) what is gst?
A) Goods
and sales tax
B) Government
sales tax
C) Goods
and service tax
D) None
of the above
11) which act governs the working of banking companies
in India?
B) Company act, 1956
C) Maharashtra state co-operative societies act,1960
D) Central co-operative societies act,1912
12)
Investment having maturity period less the 3 months are called ……...
A. Fixed
Asset
B.
Cash
C. Cash
Equivalents
D. None
of the above
13) Types
of lease are operating lease and ……. lease
A. Revenue
B. Finance
C. Cost
D. All of the above
