MCQ on Introduction to Corporate Accounting: Check the below Corporate and Management Accounting MCQ on Introduction to Corporate Accounting with Answers Pdf free download. Corporate and Management Accounting MCQ on Introduction to Corporate Accounting Questions for Corporate and Management Accounting with Answers were prepared based on the latest exam pattern. We have provided Corporate and Management Accounting MCQ on Introduction to Corporate Accounting with Answers to help students understand the concept very well. Students should practice CS Executive MCQ on Introduction to Corporate Accounting Questions with Answers based on the latest syllabus.

MCQ on Introduction to Corporate Accounting

1. As per Section 128 of the Companies Act, 2013, every company shall prepare and keep at its _____ books of account and other relevant books and papers and financial statement for every financial year.
(A) Corporate Office
(B) Registered Office
(C) Corporate Office or Registered Office
(D) Head Office

2. The declared dividend must be paid within _____ of declaration.
(A) 5 days
(B) 10 days
(C) 30 days
(D) 60 days

3. OPC shall file a copy of the financial statements duly adopted by its member, along with all the documents which are required to be attached to such financial statements, within _____ from the closure of the financial year.
(A) 30 days
(B) 60 days
(C) 120 days
(D) 180 days

4. Retained earnings are –
(A) An indication of a company’s liquidity
(B) The same as cash in the bank
(C) Not important when determining dividends
(D) The cumulative earnings of the company after dividends

5. A copy of the financial statements, including consolidated financial statement, along with all the documents attached to financial statements, duly adopted at the AGM, shall be filed with the Registrar within _____ of the date of AGM in a prescribed manner along with prescribed fees.
(A) 10 days
(B) 30 days
(C) 60 days
(D) 90 days

6. The primary goal of a publicly-owned firm interested in serving its stockholders should be too:
(A) Maximize expected total corporate profit
(B) Maximize expected EPS
(C) Maximize the stock price per share
(D) Maximize expected net income

7. As per Rule 12 of the Companies (Accounts) Rules, 2014, a financial statement shall be filed in _____ which should be pre-certified by Practicing CA.
(A) Form AOC-3
(B) Form AOC-4
(C) Form AOC-5
(D) Form AOC-6

8. Which of the following type of companies is required to file their accounts in Extensible Business Reporting Language (XBRL) format?
(A) Banking companies
(B) Insurance companies
(C) Non-Banking Financial companies
(D) None of the above

9. As per Schedule HI of the Companies Act, 2013, where the normal operating cycle cannot be identified, it is assumed to have a duration of –
(A) 3 months
(B) 6 months
(C) 9 months
(D) 12 months

10. Which of the following appears under the heading ‘Reserves & Surplus’ in the balance sheet?
(A) Share Options Outstanding Account
(B) Share Application Money Pending Allotment
(C) Long Term Provisions
(D) Secrete Reserves

11. In the real world, we find that dividends –
(A) Usually exhibit greater stability than earnings
(B) Fluctuate more widely than earnings
(C) Tend to be a lower percentage of earnings for mature firms
(D) Are usually set as a fixed percentage of earnings

12. An asset shall be classified as current:
(A) If it is held primarily for the purpose of being traded
(B) If it is not possible to classify such an asset as a non-current asset
(C) If for the asset normal operating cycle cannot be identified
(D) If such asset is expected to be realized twelve months after the reporting date

13. As per the provisions of the Companies Act, 2013, the amount of the dividend, including interim dividend, shall be deposited in a scheduled bank in a separate account within _____ from the date of declaration of such dividend.
(A) 30 days
(B) 15 days
(C) 10 days
(D) 5 days

14. In the Balance Sheet, Corporate Dividend Tax will be shown as a liability under the heading –
(A) Current Liabilities
(B) Non-Current Liabilities
(C) Tax Liabilities
(D) Deferred Liabilities

15. Which of the following will be shown in the balance sheet under the heading ‘cash and cash equivalents?
(A) Earmarked balances with banks
(B) Bank deposits with more than twelve months of maturity
(C) Cheques, drafts on hand
(D) All of the above

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