If a share of ₹ 10 on which ₹ 8 has been paid up is forfeited, it can be reissued at the minimum price of…….
  • 10 Rs. per share
  • 8 Rs. per share
  • 5 Rs. per share
  • 2 Rs. per share
Z & Co. forfeited 100 shares of 10 Rs. each for non-payment of final call of 2 Rs. per share. All the forfeited shares were re-issued at 9 Rs. per share. What amount will be transferred to Capital Reserve A/c ?
  • 700 Rs.
  • 800 Rs.
  • 900 Rs.
  • 1,000 Rs.
Forfeiture of shares results in the reduction of:
  • Paid-up Capital
  • Authorised Capital
  • Fixed Assets
  • Reserve Capital
Amount of calls in Arrear is :
  • Added to capital
  • Deducted from share capital
  • Shown on the assets side
  • Shown an the equity and liability side
Discount allowed on reissue of forfeited shares is debited to:
  • Share Capital A/c
  • Share Forfeiture A/c
  • Profit & Loss A/c
  • General Reserve A/c
A company has…………
  • Separate Legal Entity
  • Perpetual Existence
  • Limited Liability
  • All the above
The liability of members in a company is :
  • Limited
  • Unlimited
  • Stable
  • Fluctuating
Balance of Forfeited Shares Account after reissue of forfeited shares is transferred to :
  • Profit & Loss A/c
  • Capital Reserve Account
  • General Reserve Account
  • None of these
Under the provisions of Companies Act, company can issue:
  • Only equity shares
  • Only preference shares
  • Preference shares and equity shares
  • None of these
Reight shares are the shares, which :
  • Are issued to the Direction of the company
  • Are issued to existing shareholders of the company
  • Are issued to promoters in consideration of their services
  • Are issued to the vendors for purchasing assets
Total amount of liabilities side includes :
  • Authorised Capital
  • Issued Capital
  • Subscribed Capital
  • Paid-up Capital
A company issues its shares at premium under which Section of Indian Companies Act, 2013 ?
  • 78
  • 79
  • 52
  • 53
Shares can be forfeited :
  • For failure to attend meetings
  • For non-payment of call money
  • For failure to repay the loan to the Bank
  • For which shares are pledged as a security
Shareholders get:
  • Interest
  • Dividend
  • Commission
  • Profit
According to Table E of the Companies Act, 2013 interest on calls in arrears charged should not exceed :
  • 5% p.a.
  • 6% p.a.
  • 8%p.a.
  • 10%p.a.
Premium on issue of shares is a :
  • Capital Gain
  • Capital Loss
  • General Profit
  • General Loss
Premium on issue of shares is shown on which side of the Balance sheet.
  • Assets
  • Liabilities
  • Both
  • None of these
Share Allotment Account is :
  • Personal A/c
  • Real A/c
  • Nominal A/c
  • None of these
The portion of the authorised capital which can be called-up only on the liquidation of the company is called:
  • Issued Capital
  • Called-up Capital
  • Uncalled Capital
  • Reserve Capital
Premium on issue of shares can be used for :
  • Issue of Bonus shares
  • Distribution of Profit
  • Transferring to General Reserve
  • All these
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