Final Account Quizzes Online & Trivia

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Final Account Questions and Answers


  • Which of the following is not an asset?
    Final account question from

  • Which of the following is a liability?
    Final account question from

  • Which of the following is the best meaning of purchases?
    Final account question from

  • A private company sells shares to the public
    Final account question from

  • The shareholders of a public company have control over how it is run.
    Final account question from

  • John purchased shares in Apple Pty Ltd on January 1 2011. Apple pty Ltd then suffered financial difficulties in June 2011 and John was asked to contribute funds to aid the company's survival.  John has already contributed 80% of the face value of his shares.  John could be asked to contribute more money.
    Final account question from

  • 18% investment of Rs. 1,00,000 and interest received on investment Rs. 15,000 have been given in the trial balance for the period ended on 31.3.2006. The amount of interest outstanding in the final accounts will be  
    Final account question from

  • A building was purchased for Rs.4,00,000 on 1.04.2005. 31st March, 2006, its net realizable value was 5,00,000. The value of building to be shown in the books as on 31st March, 2006 will be  
    Final account question from

  • A building worth Rs. 10,00,000 is insured for Rs. 6,00,000. It is completely destroyed by fire. The loss to be admitted by the insurance company will be  
    Final account question from

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