Practice Statutory Requirements - 2.5.1 | Chapter 2: Joint Stock Company Accounts | ICSE Class 12 Accounts
K12 Students

Academics

AI-Powered learning for Grades 8–12, aligned with major Indian and international curricula.

Academics
Professionals

Professional Courses

Industry-relevant training in Business, Technology, and Design to help professionals and graduates upskill for real-world careers.

Professional Courses
Games

Interactive Games

Fun, engaging games to boost memory, math fluency, typing speed, and English skillsβ€”perfect for learners of all ages.

games

Practice Questions

Test your understanding with targeted questions related to the topic.

Question 1

Easy

What are the two main components of final accounts?

πŸ’‘ Hint: Remember the main financial statements.

Question 2

Easy

What is the purpose of a Balance Sheet?

πŸ’‘ Hint: Think about what it tells us on a specific date.

Practice 4 more questions and get performance evaluation

Interactive Quizzes

Engage in quick quizzes to reinforce what you've learned and check your comprehension.

Question 1

Which of the following documents must Joint Stock Companies prepare?

  • Tax Return
  • Balance Sheet
  • Sales Report

πŸ’‘ Hint: Think about the two main financial statements they must prepare.

Question 2

True or False: A Balance Sheet summarizes the company’s operations over a year.

  • True
  • False

πŸ’‘ Hint: Consider the focus of what a Balance Sheet shows.

Solve and get performance evaluation

Challenge Problems

Push your limits with challenges.

Question 1

You have the following financial data for a fictional company: Total Assets β‚Ή20,00,000, Total Liabilities β‚Ή8,00,000. What is the Shareholders' Equity? Provide a detailed calculation.

πŸ’‘ Hint: Remember the accounting equation.

Question 2

If a company has an outstanding expense of β‚Ή60,000 that needs to be reflected in its final accounts, how would this adjustment impact the Statement of Profit and Loss?

πŸ’‘ Hint: Think about how adjusting expenses affects profits.

Challenge and get performance evaluation