Financial Statements

Nature/Structure

Easy

Non-Cash transactions will be excluded from :

Receipt and Payment A/c

Balance Sheet

Profit and loss A/c

Income and Expenditure A/c

✅ Correct Option: 1

Receipt and Payment Account records only actual cash and bank transactions. Non-cash transactions like depreciation, outstanding expenses, and accrued income are excluded. Income and Expenditure A/c, Profit and Loss A/c, and Balance Sheet do record non-cash items.

2025: 30 May Shift 2

Which among the following is NOT TRUE about the financial statement?

2022: 15 July Shift 2

Match List I with List II

List I	List II
A. Intangible Assets	I. Provision for taxation
B. Short term provision	II. Trade creditor
C. Long term borrowings	III. 10% debentures
D. Current liabilities	IV. Goodwill

Choose the correct answer from the options given below:

2026: 21 May Shift 2

Every company registered under The Companies Act 2013 shall prepare its balance sheet in the prescribed format. Arrange the following Non-current Liabilities in proper order:

A. Deferred tax liabilities (net)

B. Long term provisions

C. Other long term liabilities

D. Long term borrowings

Choose the correct answer from the options given below:

2022: 15 July Shift 2

Financial Statements of a company does not include

2023: 11 June Shift 3

Match List - I with List - II.

List - I	List - II
(A) Share Capital	(I) 10% debenture
(B) Reserve and Surplus	(II) Interest accrued and due
(C) Non-current Liability	(III) Share forfeited account
(D) Current Liability	(IV) Capital Redemption Reserve

Choose the correct answer from the options given below :

2024

Arrange the following steps in the correct sequence of the life of a company:

Non-Cash transactions will be excluded from :

Solution

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