Financial Statements

Nature/Structure

Medium

(A) Commencement of Business
(B) Incorporation
(C) Promotion
(D) Floatation

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

(A), (B), (C), (D)

(A), (C), (B), (D)

(B), (A), (D), (C)

(C), (B), (D), (A)

✅ Correct Option: 4

Answer: C → B → D → A

C. Promotion

Conceive the business idea, assemble founders, carry out feasibility studies.

B. Incorporation

D. Floatation

Raise capital by offering shares/debentures to investors (public or private).

A. Commencement of Business

Obtain the Certificate of Commencement (if required) and start trading.

2022: 20 July Shift 1

The closing balance of Receipts and Payments Account depicts _________.

2022: 23 Aug Shift 2

Which of the following is not included in Non-current liabilities, while preparing a Balance Sheet of a company :

2025: 15 May Shift 2

In order to bring clarity regarding the identity of ultimate owners of the company, disclosure of shares in the company held by each shareholder is required, holding more than _____ shares, specifying the number of shares held.

2023: 20 June Shift 2

Which of the following items are part of Intangible non current Assets:

A. Patents

B. Furniture

C. Statement of Profit & Loss A/c (Dr)

D. Goodwill

E. Trademark

Choose the correct answer from the options given below:

2023: 11 June Shift 3

What will be the accounting treatment of outstanding expenses in the Income and Expenditure A/c.

(A) Added in main or concerned head

(B) Subtracted from main head

(D) Will not be shown in Income and Expenditure A/c

(E) Shown in Receipt and Payment A/c only

Choose the correct answer from the options given below :

2025: 22 May Shift 1

Which accounting standard is applicable for recognizing intangible assets?

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

Solution

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