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Class 12 Accountancy
Accounting For Share Capital
Quiz 2
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If a share of ₹ 10 on which ₹ 8 has been paid up is forfeited, it can be reissued at the minimum price of…….
0%
10 Rs. per share
0%
8 Rs. per share
0%
5 Rs. per share
0%
2 Rs. per share
Explanation
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 ?
0%
700 Rs.
0%
800 Rs.
0%
900 Rs.
0%
1,000 Rs.
Explanation
700 Rs.
Forfeiture of shares results in the reduction of:
0%
Paid-up Capital
0%
Authorised Capital
0%
Fixed Assets
0%
Reserve Capital
Explanation
Paid-up Capital
Amount of calls in Arrear is :
0%
Added to capital
0%
Deducted from share capital
0%
Shown on the assets side
0%
Shown an the equity and liability side
Explanation
Deducted from share capital
Discount allowed on reissue of forfeited shares is debited to:
0%
Share Capital A/c
0%
Share Forfeiture A/c
0%
Profit & Loss A/c
0%
General Reserve A/c
Explanation
Share Forfeiture A/c
A company has…………
0%
Separate Legal Entity
0%
Perpetual Existence
0%
Limited Liability
0%
All the above
Explanation
All the above
The liability of members in a company is :
0%
Limited
0%
Unlimited
0%
Stable
0%
Fluctuating
Explanation
Limited
Balance of Forfeited Shares Account after reissue of forfeited shares is transferred to :
0%
Profit & Loss A/c
0%
Capital Reserve Account
0%
General Reserve Account
0%
None of these
Explanation
Capital Reserve Account
Under the provisions of Companies Act, company can issue:
0%
Only equity shares
0%
Only preference shares
0%
Preference shares and equity shares
0%
None of these
Explanation
Preference shares and equity shares
Reight shares are the shares, which :
0%
Are issued to the Direction of the company
0%
Are issued to existing shareholders of the company
0%
Are issued to promoters in consideration of their services
0%
Are issued to the vendors for purchasing assets
Explanation
Are issued to existing shareholders of the company
Total amount of liabilities side includes :
0%
Authorised Capital
0%
Issued Capital
0%
Subscribed Capital
0%
Paid-up Capital
Explanation
Paid-up Capital
A company issues its shares at premium under which Section of Indian Companies Act, 2013 ?
0%
78
0%
79
0%
52
0%
53
Explanation
52
Shares can be forfeited :
0%
For failure to attend meetings
0%
For non-payment of call money
0%
For failure to repay the loan to the Bank
0%
For which shares are pledged as a security
Explanation
For non-payment of call money
Shareholders get:
0%
Interest
0%
Dividend
0%
Commission
0%
Profit
Explanation
Dividend
According to Table E of the Companies Act, 2013 interest on calls in arrears charged should not exceed :
0%
5% p.a.
0%
6% p.a.
0%
8%p.a.
0%
10%p.a.
Explanation
10%p.a.
Premium on issue of shares is a :
0%
Capital Gain
0%
Capital Loss
0%
General Profit
0%
General Loss
Explanation
Capital Gain
Premium on issue of shares is shown on which side of the Balance sheet.
0%
Assets
0%
Liabilities
0%
Both
0%
None of these
Explanation
Liabilities
Share Allotment Account is :
0%
Personal A/c
0%
Real A/c
0%
Nominal A/c
0%
None of these
Explanation
Personal A/c
The portion of the authorised capital which can be called-up only on the liquidation of the company is called:
0%
Issued Capital
0%
Called-up Capital
0%
Uncalled Capital
0%
Reserve Capital
Explanation
Reserve Capital
Premium on issue of shares can be used for :
0%
Issue of Bonus shares
0%
Distribution of Profit
0%
Transferring to General Reserve
0%
All these
Explanation
Issue of Bonus shares
0 h : 0 m : 1 s
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