If equity share of ₹ 10 Rs. each is issued at ₹ 12 each, it is called:
  • Issued at Par
  • Issued at Premium
  • Issued at Discount
  • None of these
The maximum capital beyond which a company is not allowed to raise funds, by issue of shares is called …………..
  • Issued capital
  • Reserve capital
  • Authorised capital
  • Subscribed capital
As per Table F the maximum rate of interest on calls in advance paid is:
  • 8% p.a.
  • 12% p.a.
  • 5 % p.a.
  • None of these
As per the Companies Act, only preference shares, which are redeemable within …………. can be issued.
  • 24 years
  • 22 years
  • 30 years
  • 20 years
Which one of the following is the registered capital of the company ?
  • Paid-up capital
  • Uncalled capital
  • Authorised capital
  • Issued capital
Dividends are usually paid on :
  • Authorised Capital
  • Issued Capital
  • Called-up Capital
  • Paid-up Capital
If vendors are issued fully paid shares of ₹ 1,00,000 in consideration of net assets of ₹ 1,20,000 the balance of ₹ 20,000 will be credited to :
  • Goodwill Account
  • Capital Reserve Account
  • Vendor’s Account
  • Profit & Loss Account
Which account should be debited when shows an issued to promoters:
  • Share Capital A/c
  • Assets A/c
  • Promoter’s A/c
  • Goodwill A/c
According to Section 52 of the Compaines Act, the amount in the Securities Premium Account cannot be used for the purpose of:
  • Issue of fully Paid Bonus Shares
  • Writing Off Losses of the Company
  • Writing off Preliminary Expenses
  • Writing Off Commission or Discount on Issue of Shares
10,000 equity shares of 10 Rs. each were issued to public at a premium of ₹ 2 per share payable on allotment. Applications were received for ₹ 12,000 shares. Amount of securities premium account will be :
  • ₹ 20,000
  • ₹ 24,000
  • ₹ 4,000
  • ₹ 1,600
A Ltd. purchased a machinery for 1,80,000 Rs. for which it is paying by issue of shares of 100 Rs. each at 20% premium. How many shares will be issued as consideration. ?
  • 2,500
  • 2,000
  • 1,500
  • 3,000
Right Shares are issued to :
  • Promoters for the Services
  • Holders of Convertible Debentures
  • Existing Shareholders
  • All of the above
A company is registered with a share capital of ₹ 1,00,000 Rs. divided into ₹ 10,000 shares of ₹ 10 each. Of these shares 9,990 shares are held by Rajeev and 10 Shares are held by Sanjay. In the eye of law it is treated as:
  • Partnership
  • Private Company
  • Public Compancy
  • Government Company
Which of the following should be deducted from the called-up capital to find out paid-up capital:
  • Calls-in-advance
  • Calls-in-arrear
  • Share forfeiture
  • Discount on issue of shares
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