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Classifications Questions

Practice 8 Classifications questions with detailed answers and explanations. Free MCQs, PYQs, and mock test questions for NEET, JEE, GATE, SSC and more.

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8
Total Questions
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6
Easy
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2
Medium
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Hard
Practice by Exam:Accountancy(7)CUET Accountancy(1)

About Classifications — practice questions, PYQs & concepts

Classifications is a frequently-tested topic on Accountancy, CUET Accountancy. ExamTest.live currently lists 8 Classifications questions spanning previous-year papers from 2026 to 2026, each with worked solutions and a step-by-step explanation. Use the filters on this page to focus on a specific exam, difficulty level or year — every answer key is free, no sign-up required.

Classifications weight in competitive exams

Across our Classifications question bank, the largest sources are Accountancy (7) and CUET Accountancy (1). Click any exam chip above to drill down to that exam-specific question set.

How to use this page

  • Start easy: 6 easy Classifications questions are available — build fluency before moving up.
  • Target weak years: Use the year filter to focus on the most recent 2026 paper or older PYQs you have not attempted.
  • Time yourself: Every question shows the average solve time so you can benchmark your speed against other students.
  • Read every explanation: Even on questions you got right — the explanation often surfaces a faster approach you can reuse.

All Classifications Questions(1–8 of 8)

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Q1easymcqAccountancyCUET Accountancy 2023 28 May Shift 12026
0% accuracy
Which of the following transactions involve issuing debentures for a consideration other than cash?(A) Issued to a bank as additional/collateral security(B) Issued to a vendor for asset purchase(C) Issued to the general public for subscription(D) Issued to a creditor to settle outstanding dues(E) Issued for cash via public offerChoose the correct answer from the options given below:
Q2easymcqAccountancyCUET Accountancy 2023 28 May Shift 12026
0% accuracy
Match List - I with List - II.
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Choose the correct answer from the options given below:
Q3easymcqAccountancyCUET Accountancy 2023 28 May Shift 12026
Match List - I with List - II.

Choose the correct answer from the options given below:
Q4easymcqAccountancyCUET Accountancy 2025 14 May Shift 22026
Match the transaction classifications in List-I with their corresponding examples in a Cash Flow Statement (AS-3) listed in List-II:List-IList-II(A) Operating activity(I) Bank(B) Investing activity(II) Redemption of preference shares(C) Financing activity(III) Purchase of machinery(D) Cash equivalents(IV) Cash receipt from trade receivables.Choose the correct option from the answers given below:
Q5easymcqAccountancyCUET Accountancy 2025 14 May Shift 22026
Match the specific debenture categories in List-I with their operational meanings outlined in List-II:List-IList-II(A) Unsecured Debentures(I) These debentures are issued with a specified rate of interest.(B) Redeemable Debentures(II) These debentures do not have a specific charge on the assets of the company.(C) Specific Coupon Rate Debentures(III) These are those which are payable on the expiry of a specific period either in lump sum or in instalments during the life-time of the company.(D) Bearer Debentures(IV) The debentures which can be transferred by way of delivery and the company does not keep any record of the debentures.Choose the correct answer from the options given below:
Q6mediummcqAccountancyCUET Accountancy 2025 14 May Shift 22026
Which combination of statements is correct in accordance with the presentation format prescribed under the revised Schedule III to the Companies Act, 2013?(A) Shareholders' funds are sub-classified as Share Capital, Reserves and Surplus, and Money received against Share Warrants.(B) Reserves and Surplus include Revaluation Reserve.(C) Both tangible and intangible assets are current assets.(D) Deferred tax assets/liabilities are always non-current.Choose the correct answer from the options given below:
Q7easymcqAccountancyCUET Accountancy 2025 30 May Shift 12026
Perpetual Debentures are also known as :-
Q8mediummcqCUET AccountancyCUET 2025 31 May Shift 12026
Match List-I with List-II

Choose the correct answer from the options given below:

Frequently Asked Questions

How many Classifications questions are on ExamTest.live?▼
We have 8 Classifications questions spread across 1 pages, covering easy, medium, and hard difficulty levels with detailed explanations.
Are Classifications MCQs free?▼
Yes. All Classifications questions, answers, and explanations on ExamTest.live are completely free. No account or subscription required.
Which exams include Classifications questions?▼
Classifications questions are commonly asked in Accountancy, CUET Accountancy. You can filter by exam using the links above.
How do I practice Classifications questions effectively?▼
Start with easy questions to build confidence, then tackle medium and hard ones. Use the filter buttons to sort by difficulty. Reveal the answer only after attempting each question, and read the explanation thoroughly.