Question : In a Company  Balance Sheet, the credit (profit) balance of the Statement of Profit and Loss is shown under:

Option 1: Reserve and Surplus

Option 2: Current Liabilities

Option 3: Non-current Assets

Option 4: Non-current Liabilities 

Question : Due to be Settled within 12 Months from the Date of the Balance Sheet: A liability is classified or shown as ------.

Option 1: Non – current liabilities

Option 2: Current liabilities

Option 3: Current assets

Option 4: Non – current assets

Question : Debentures are shown in the Balance Sheet of a company under the head of:

Option 1: Current Liabilities

Option 2: Non Current Liabilities

Option 3: Shareholder Funds

Option 4: None of the above

Question : Which of the following statements is incorrect?

Option 1: Premium on Issue of Debentures is a capital profit

Option 2: Premium on Issue of debentures are  shown on the Equity and Liabilities side under the head ‘Reserves and Surplus’

Option 3: It is a liability and appears under the head “Non-Current Liabilities” under sub-head ‘Other Long term Liabilities’ till the redemption
 

Option 4: All of the above 

Question : Which of the following statements is incorrect?

Option 1: Premium on Issue of Debentures is a capital profit

Option 2: Premium on Issue of debentures are  shown on the Equity and Liabilities side under the head ‘Reserves and Surplus’

Option 3: It is a liability and appears under the head “Non-Current Liabilities” under sub-head ‘Other Long term Liabilities’ till the redemption
 

Option 4: All of the above