Meaning and characteristics of reserves - class-XI
Description: meaning and characteristics of reserves | |
Number of Questions: 30 | |
Created by: Gauri Chanda | |
Tags: provisions and reserves book keeping and accountancy accountancy depreciation, provision and reserve reserve and fund depreciation, provisions and reserves |
Reserve created for maintaining a stable rate of dividend is termed as dividend equalisation fund.
Reserves are created to meet future expenses or losses the amount of which is not certain.
X sends out 500 bags to Y costing Rs 400 each at an invoice price of Rs 450 each. Consignor's expenses Rs 4,000, consignee's expenses, freight Rs 1000, selling Rs 2,000. 400 bags was sold.
The amount of Consignment Stock Reserve will be
In purchase method, the excess of net asset of the transferor company acquired by the transferee company over the purchase consideration should be recognized as ________.
Banks are required to transfer _________of their profits to statutory reserve.
While preparing the books of the transferee company in purchase method, the difference between purchase consideration and share capital of the transferor company should be adjusted in _______.
Which of the following is statutory reserve?
When investment in own debentures is cancelled the profit on cancellation is credited to ___________________.
What journal entry is passed for transfer to capital redemption reserve account?
In the case of marine insurance reserve for unexpired risk is _______.
__________is reserve created to meet any loss due to natural calamities.
_________ are known as an amount kept aside and retained in the business for future needs.
___________ is created out of revenue profits from business operations.
____________ is created out of capital profits arising from non operating activities.
Which of the following is not an objective for Reserves?
Which of the following is not an example of reserves?
Following are shown under the head Reserves and Surpluses.
Creation of reserves ______ the amount of profits available for distribution among the owners of the business.
Whenever any provision is created __________ is debited.
Reserves are the __________.
____________are available for Distribution of Dividends.
Revenue reserves are also known as ___________.
___________ is used to writing off capital losses or issue of bonus shares in case of a company.
Reserves arising from capital receipts are known as _________.
Capital Reserves are not freely distributed as profits.
Reserve is created for__________.
Capital Redemption Reserve may be used for making partly paid up shares as fully paid up.
Bonus shares are issued by companies because _____________.
The paid-up capital of Mukund Ltd. is Rs $18,00,000$. The company decided to propose a dividend of Rs $2,16,000$ out of current profit. How much of current profit is to be transferred to reserve?
Reverse capital is ______.