Financial statements of a company-Important Questions

IMPORTANT QUESTIONS

CHAPTER 11: Financial Statements of a Company

1. Write the characteristics and nature of financial statements?
2. Define the following:-
   
   1. Capital reserve
   2. Capital Redemption Reserve
   3. Debenture redemption reserve
   4. Share capital paid up
3. Name the sub-heads under the head ‘Non-current liabilities’ in the equity and liabilities part of the balance sheet as per schedule III of the companies’ act 2013.
4. Name any four items under the heading other current liabilities?
5. Under which main heads and sub-heads of Equity and Liabilities part of the balance sheet as per schedule III are the following items shown?
   
   1. Interest Accrued and due on secured loans
   2. Debenture redemption reserve
   3. Capital redemption reserve
   4. Advances from customers (long term)
   5. Interest accrued but not due on unsecured loans
6. List some non-current assets and current assets.
7. List five items which are included under the head ‘Non-current Investments’.
8. Under what main heads and sub-heads of assets part are the following items classified in the balance sheet:
   
   1. Bills receivables
   2. Sundry debtors
   3. Long term investments
   4. Shares in listed companies
   5. Prepaid insurance
   6. Deposits with customer authorities
   7. Building