Scribd
Upload
21 views

Provisions & Reserves

Uploaded by

peven28003
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
21 views

Provisions & Reserves

Uploaded by

peven28003
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
You are on page 1/ 7

Hridaan’s Edumax

S1 - 18, Gate 3, Dosti Shoppe


Imperia, Manpada Thane

Provisions & Reserve


CLASS 11 - ACCOUNTANCY

Time Allowed : 1 mins Maximum Marks : 100


Section A

1 What is specific [1]


reserve?
2 What are major types [1]
of Reserves?
3 Give one example each [1]
of provisionand
reserve.
4 What are the two types [1]
of reserves according
to the nature of profit
out of which they are
created?
5 Where will you [1]
transfer profit on the
sale of a fixed asset?
6 What is the purpose of [1]
general reserve?
7 Give two examples of [1]
provisions.
8 Explain the terms [1]
Reserveand
Provisionwith
examples.
9 Mention two types of [1]
revenue reserves.
10 Mention any two [1]
capital profits creating
capital reserves.
11 What is meant by [1]
provision?
12 Give two examples [1]
each of specific reserve
and capital reserve.
13 Capital Reserves are [1]
freely distributed as
profits. Comment.
14 If the amount of a [1]
known Liability can be
ascertained with
accuracy, it should be
treated as a Liability or
a Provision. Comment.
15 Give one difference [1]
between provision and
reserve.
16 Reserve is not a [1]
liability in the real
sense. Do you agree
with this statement?
17 Is a reserve to be [1]
charge against a profit
or an appropriation of
profit?
18 Capital Reserve may or [1]
may not involve any
receipts of cash. Do you
agree?
19 Name the reserve [1]
which cannot be used
to write - off revenue
losses.
20 What is Workmen [1]
Compensation Fund?
21 Differentiate between [1]
reserve and provision
on the basis of charge
or appropriation.
22 Why dividend [1]
equalisation reserve is
termed as reserve and
not a provision?
23 What are Capital [1]
Reserves?
24 What is the purpose of [1]
a reserve?
25 Do you think that a [1]
Provision is a charge
against profit?
26 What is meant by [1]
Specific Reserve?
27 Differentiate between [1]
Revenue Reserve and
Capital Reserve on the
basis of the source.
28 A provision can be [1]
specific or general. Do
you agree?
29 Explain the Capital [1]
Reserve and give any
two examples.
30 Name the reserve [1]
which is not created
out of Profit and Loss
Appropriation Account.
31 What is meant by [1]
capital reserve?
32 What is the dividend [1]
equalization reserve?
33 Give four examples [1]
each of revenue
reserve and capital
reserve .
34 Give four examples [1]
each of provision and
reserves .
35 Which reserves are [1]
created for maintaining
a stable rate of
dividend
36 Give two examples of [1]
specific reserves.
37 Is it necessary to create [1]
provision even if there
is no or inadequate
profit or loss?
38 What is meant by [1]
revenue reserve?
39 Define the Provision. [1]
What is the importance
of creating a Provision?
(Any three points of
importance)
40 Is Reserve a charge [1]
against profit or an
appropriation of
profit? Discuss.
41 Give two examples of [1]
Capital Reserve.
42 Give two examples of [1]
reserves.
43 Is it necessary to create [1]
a reserve even if there
is no or adequate
profit?
44 What is meant by a [1]
reserve?
45 Eicher Ltd. [1]
intentionally made
excess provision for
doubtful debts. What
term will be used for
excess provision?
46 What is meant by [1]
General Reserve?
47 Is a reserve a charge to [1]
Profit & Loss Account?
48 What do you [1]
understand by general
reserve?
49 Mention any two ways [1]
of creating a secret
reserve.
50 Give the accounting [1]
treatment of reserves
and how are they
disclosed in the
balance sheet.
51 Name the reserve that [1]
can be used in the
distribution of
dividends.
52 Name reserves which [1]
are generally not
distributed as dividend
are
53 What is meant by [1]
Reserve Fund?
54 Distinguish between [3]
general reserve and
specific reserve .
55 Name and explain [3]
different type of
reserves in details.
56 Give five examples of [3]
Capital Reserve.
57 Give two differences [3]
between provisions
and reserves.
58 Distinguish between [3]
revenue reserve and
capital reserve .
59 Which of the following [3]
should be a
chargeagainst profit
and which should be an
appropriationof profit?

1. Provision for
Doubtful Debts

2. Provision for
Depreciation

3. General Reserve

60 Distinguish between [3]


Reserve and Provision
on the basis of:
1. Appropriation
or charge

2. Financial
Position

3. Distribution

61 Distinguish between [3]


Revenue Reserves and
Capital Reserves.
62 What are ’provisions’? [3]
How are they created?
63 Distinguish between [4]
provision and reserve
.
64 Distinguish between [4]
Provision and Reserve
on the following basis:

1. Basic Nature.

2. Purpose.

3. Effect on
Taxable Profit.

4. Presentation in
Balance Sheet.

5. Element of
Compulsion.

6. Use for Payment


of Dividend.

65 The following [4]


information are
extracted from the
Trial Balance of M/s
Nisha traders on 31
March 2017.
Provision is to be
maintained at 2% of
Debtors.Prepare bad
debts account,
Provision for bad debts
account and profit and
loss account.

66 Distinguish between [4]


reserve and provision
on the basis of purpose,
the effect on taxable
profits, the element of
compulsion.
67 What are provisions? [4]
How are they created?
Give accounting
treatment in case of
provision for doubtful
Debt.

You might also like