Practicing Success

Register
Start Free Mocks
CUETMOCK

Ace Your

CUET Preparation Today

Start Free Mocks
Home Questions 8268G8FAAX
Target Exam

CUET

Subject

Accountancy

Chapter

Accounting Ratios

Question:

Read the following information and answer the question.

PARTICULARS AMOUNT (₹)
Share capital 30,00,000
Securities premium reserve 2,00,000
Reserves and surplus 10,00,000
Loan from IFCI @10% 20,00,000
5% Bonds 25,00,000
Long term provision 3,00,000
Short term provision 1,00,000
Short term borrowings 4,00,000
Trade payables 5,00,000

What will be the total amount of reserves and surplus if the following information is available? 

Options:

₹10,00,000

₹12,00,000

₹15,00,000

₹11,00,000

Correct Answer:

₹10,00,000

Explanation:

The correct answer is option 1- ₹10,00,000.

Reserves and surplus = ₹10,00,000

Securities premium reserve is ignored because it is already included in reserves.

CUET Questions