NICL Specialist Officer

Will you please get the Finance Specialist officer exam paper issued by National Insurance Company Limited?

[shikha]

No need to worry I will get the National Insurance Company Limited, Finance Specialist officer exam paper so that you can solve it easily.

Here is the exam paper

State whether the following statements are true or false:
1. Every holding company is required to present a consolidated balance sheet under the companies act, 1956. False

2. Minirity interest shown in the consolidated balance sheet is the equity held by the outsiders in the subsidiary company. True

3. Cost of control is the exces price paid for investment over and above proportionate share of net assets acquired by the holding company. True

4. There is no need to show inter company dividends in the consolidated profit and loss account. True

5. Profit on revaluation of Fixed assets is a capital profit and depreciation on such amount is a revenue loss. True

6. The financial year of holding and subsidiary company must be the same. False

7. Dividends paid out of pre-acquisition profits must be credited to investment in shares of the subsidiary account. True

8. Dividends paid out of post-acquisition profits must be credited to profit and loss account. True

9. For calculating minority interest there is need to distinguish between capital and revenue profits of the subsidiary. False

10. For calculating cost of control there is no need to distinguish between capital and revenue profits of the subsidiary. False

11. Only external Contingent liabilities are shown as footnote in the consolidated balance sheet but internal contingent liabilities are not shown in consolidated balance sheet. True

12. Issue of bonus shares out of pre acquisition profit or reserves will have no effect on the consolidated balance sheet. True

13. Issue of bonus share out of post acquisition profits by the subsidiary company has the effect of increasing the paid up value of shares and reducing the cost of goodwill of the holding company. True





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