Current Liabilities

Q.

Interest accrued and due on borrowings shall be shown under _____

1. Other current liabilities

2. All of these

3. Short term provisions

4. Trade payables

Q. The term “sundry creditors” has been replaced with the term .

1. trade receivables
2. trade payables
3. secured loan
4. unsecured loan

Q. Name the itmes that are shown under Long-term Borrowings.

Q.

Loans payable on demand should be treated as part of ______.

1. Trade payables

2. Short term borrowings

3. All of these

4. Trade receivables

Q.

Name the Sub-headings under which Non-Current Assets shall be classified in a Company's Balance Sheet.

Q. State any two items that are included in the following major heads under which liabilities of a company are shown: (i) Reserves and Surplus; (ii) Long-term Borrowings; (iii) Short-term Borrowings; (iv) Other Current Liabilities.

Q.

The term “sundry creditors” has been replaced with the term _____

1. Trade payables

2. Short term borrowings

3. Trade receivables

4. All of these

Q.

How to open a period in oracle fixed assets r12?

Q.

Unpaid dividends are shown under .........

1. Short term provisions

2. Trade payables

3. Other current liabilities

4. All of these

Q. Short-term borrowings will include all loans which needs to be settled within a period of from the date of the loan.

1. 16 months
2. 18 months
3. 24 months
4. 12 months

Q.

Trade Deposits which are not in the nature of borrowings should be classified separately under ____

1. Trade payables

2. Short term borrowings

3. Other current liabilities

4. All of these

Q. What are the advantages of opening a bank account?

Q. Difference between amortized and unamortized expenses

Q. If the bill of exchange of two month's duration is accepted on 13th June its maturity date will be ____________.

1. 14th August
2. 15th August
3. 16th August
4. 13th August

Q.

What are fixed assets and current assets?

Q.

What are examples of liabilities and assets?

Q. Non-current Assets are majorly classified into sub-heads.

1. two
2. three
3. four
4. five

Q.

Short-term borrowings will include all loans within a period of _____ from the date of the loan.

1. 6 months

2. 12 months

3. 18 months

4. None of these

Q. If the bill of exchange of two month's duration is accepted on 15th September its maturity date will be __________.

1. 15th November
2. 18th November
3. 19th November
4. 16th November

Q.

What is the trade credit period?

Q.

Provisions due within 12 months are classified under _____

1. Trade payables

2. Short term provisions

3. Other current liabilities

4. All of these

Q.

How do you find long-term assets?

Q.

The portion of long term debts / lease obligations, which is due for payments within twelve months of the reporting date is required to be classified under ______

1. Trade payables

2. Short term borrowings

3. Other current liabilities

4. All of these

Q. Interest on capital is added to______.

1. cash
2. profit
3. capital
4. interest

Q. Which of the following is not a current liability in the balance sheet ?

1. Loan from bank
2. Acceptance
3. Unclaimed dividend
4. Interest accrued but not due on loan

Q. If the bill of exchange of one month's duration is accepted on 23rd December its maturity date will be ____________.

1. 23rd January
2. 24th January
3. 26th January
4. 25th January

Q. Stock-in-trade does NOT include ______________.

1. goods in the process of manufacture.
2. raw materials.
3. finished goods.
4. items held as fixed assets.

Q. Which of the following are current liabilities ?

1. Tax payable
2. Interest Payable
3. Prepaid Expenses
4. Bank Overdrafts
5. Short-term Loans
6. Debentures
7. Trade Payables
8. Long-term loans
9. Furniture

Q. Which of the following terms is used to describe the process of writing down the long-term investments in intangible assets?

1. Depreciation
2. Depletion
3. Amortisation
4. Dilapidation

Q. If the bill of exchange of two month's duration is accepted on 23rd November 1985 its maturity date will be ____________.

1. 23rd Jan 1986
2. 25th Jan 1986
3. 23rd. Jan 1987
4. 25th Jan 1987