Reserve share capital means :
  • Part of authorised capital to be called at the beginning
  • Portion of uncalled capital to be called only at liquidation
  • Over subscribed capital
  • Under subscribed capital
When full amount is due on any call but it is not received, then the short fall is debited to :
  • Calls-in-advance
  • Calls-in-arrear
  • Share Capital
  • Suspense Account
The difference between subscribed capital and called up capital is called :
  • Calls-in-arear
  • Calls-in-advance
  • Uncalled capital
  • None of these
Which statement is issued before the issue of shares ?
  • Prospectus
  • Articles of Association
  • Memorandum of Association
  • All of these
Company can utilise securities premium for :
  • Writing off loss incurred on revaluation of asset
  • Issuing fully paid bonus shares
  • Paying divided
  • Writing off trading loss
When a company issues fully paid shares to promoters
  • Bank A/c Dr. To Share Capital A/c
  • Good will A/c Dr. To Share Capital A/c
  • Promoters Personal A/c Dr. To Share Capital A/c
  • Promotion Expenses A/c Dr. To Share Capital A/c
When a company issues shares at a premium, amount of premium may be received by the company :
  • Along with application money
  • Along with application money
  • Along with calls
  • Along with any of the above
Share Application Account is :
  • Personal Account
  • Real Account
  • Nominal/ Account
  • None of these
Secrities Premium can not be applied :
  • For paying dividend to members
  • For issuing bonus shares to members
  • For writing off preliminary expenses of company
  • For writing off discount on issue of debentures
A joint stock company is :
  • An artificial legal person
  • Natural person
  • A general person
  • None of these
Equity shareholders are :
  • Customers
  • Creditors
  • Debtors
  • Owners
Reserve capital means :
  • A part of subscribed uncalled capital
  • Reserve Profit
  • A part of Capital Reserve
  • A part of Capital Redemption Reserve
Securities Premium is shown under which head in the Balance Sheet ?
  • Reserve and Surplus
  • Miscellaneous Expenditure
  • Current Liabilities
  • Share Capital
Shares may be issued :
  • At par value
  • At FYemimum
  • At Discount
  • Both (a) & (b)
Capital included in the liabilities of a company is called :
  • Authorised Capital
  • Issued Capital
  • Subscribed Capital
  • Paid-up Capital
An issue of shares which is not a public issue but offered to a selected group of persons is called :
  • Public offer
  • Private placement of shares
  • Initial public offer
  • None of these
If a share of ₹ 10 on which ₹ 8 has been called and ₹ 6 is paid is forfeited, the Share Capital Account should be debited with :
  • ₹ 8
  • ₹ 10
  • ₹ 6
  • ₹ 2
When shares are forfeited, the Share Capital Account is debited with:
  • Nominal value of Shares
  • Market value of Shares
  • Called-up value of Shares
  • Paid-up value of Shares
If the loss on reissue of shares is less than the amount forfeited, the ‘surplus’ or profit is transferred to :
  • Capital Reserve
  • Revenue Reserve
  • Profit & Loss A/c
  • None of these
J. Ltd. re-issue 2,000 shares which where forfeited by crediting share forfeiture account by ₹ 3,These shares were re-issued at ₹ 9 per share. The amount transferred to capital reserve will be :
  • ₹ 3,000
  • ₹ 2,000
  • ₹ 1000
  • Nil
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