Holding Company Account MCQ Quiz
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This Holding Company Account MCQ Quiz is based on following questions.
1. At the time of …………………, inter company debts and acceptances are to be cancelled out.
A. Merger
B. Absorption.
C. Internal reconstruction.
D. Consolidation.
2. Inter- company dividends are ……………………..to the price of investment in the subsidiary company for calculating goodwill or capital reserve.
A. Added
B. Deducted
C. Remove
D. None of the above.
3. Holdings of minority will …………………by the number of bonus shares received by them.
A. Increase
B. Decrease
C. Remain same
D. None of the above
4. Out of the unrealized profits, a holding company’s share is reduced from the stock and
A. Profit & Loss A/C
B. Goodwill.
C. Minority Interest
D. Capital A/C
5. Investments made by an organization during a subsidiary are always to be shown in ……………….
A. Profit & Loss A/C
B. Consolidated record .
C. Minority Interest.
D. Dividend A/C
6. If AB Ltd buys quite 50% of the shares in CD Ltd then which of the following statements accurately summarizes the connection between these two firms?
A. AB Ltd could even be a subsidiary undertaking of CD Ltd
B. CD Ltd is that the parent undertaking
C. AB Ltd is that the parent undertaking
D. there’s no significant financial relationship between the 2
7. On a consolidated record , if the shares of a corporation are bought for more than the record value then the difference would seem as:
A. Goodwill
B. Capital reserve
C. Loss on purchase
D. Profit on purchase
8. Pre-acquisition profit in subsidiary is taken into account as:
A. Revenue Profit
B. Capital Profit
C. Goodwill
D. None of the above
9. Profit earned after acquisition of share is treated as:
A. Revenue Profit
B. Capital Profit
C. Goodwill
D. None of the above.
10. Profit earned before acquisition of share is treated as:
A. Revenue Profit
B. Capital Profit
C. Goodwill
D. Revaluation Profit
11. Preparation of consolidated statements as per AS 21 is :
A. Optional
B. Mandatory for All
C. Mandatory for listed companies.
D. Mandatory for PVT. companies.
12. Face value of debentures of subsidiary , held by holding co.is deducted from:
A. Debentures
B. Cost of Control
C. Minority Interest.
D. Goodwill.
13. Minority Interest includes:
A. Share in share capital
B. Share in capital profit
C. Share in revenue profit
D. All of the above.
14. Preparation of Holding Companies Accounts Deals with :
A. AS-22
B. AS-21
C. AS-25
D. AS-12
15. The interval between the date of acquisition if shares in subsidiary company and date of record of company is understood as :
A. Pre-acquisition period
B. Post -acquisition period.
C. Pre- commencement period
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