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Q. In case of redemption out f profit, an amount equal to face value of shares so redeemed should be transferred to …………

Q. Banks show the provision for income tax under the head ……….

Q. Banking business in India is largely governed by the Banking Regulation Act‐‐‐‐‐‐‐‐‐

Q. The discount on re-issue of forfeited shares is debited to ---- a/c.

Q. Excess of paid up value of the shares over cost of investment is considered as:

Q. Requirements given in part II of the schedule VI apply to ‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐

Q. ………………………….. value depends on Net assets.

Q. ……..should be deducted from the share capital to determine the paid up cap ital.

Q. --------- is the account created in connection with internal reconstruction.

Q. Certain assumptions are essential to prepare financial statements.