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Class 12 Accountancy
Issue And Redemption Of Debentures
Quiz 1
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When debentures are redeemed out of profits, an equivalent amount is transferred to :
0%
General Reserve
0%
Debenture Redemption Reserve
0%
Capital Reserve
0%
Profit & Loss A/c
Explanation
Debenture Redemption Reserve
When all debentures are redeemed, balance in the Debenture Redemption Fund Account is transferred to:
0%
Capital Reserve
0%
General Reserve
0%
Profit & Loss Appropriation A/c
0%
None of these
Explanation
Capital Reserve
According to SEBI guidelines, a Company will have to create debenture redemption reserve equivalent to the amount of the following percentage of debenture issued:
0%
50%
0%
25%
0%
70%
0%
100%
Explanation
25%
The balance of ‘Sinking Fund Account’ after the redemption of debentures is transferred to :
0%
Profit & Loss Account
0%
Profit & Loss Appropriation Account
0%
General Reserve Account
0%
Sinking Fund Account
Explanation
General Reserve Account
Profit on cancellation of own debentures is transferred to:
0%
Profit & Loss Account
0%
Profit & Loss Appropriation Account
0%
General Reserve Account
0%
Capital Reserve Account
Explanation
Capital Reserve Account
If debenture of ₹ 1,00,000 were issued for discount of ₹ 10,000, which are redeemable after four years. Then amount of discount to be written off from P. & L. Account each year is :
0%
₹ 3,000
0%
₹ 4,000
0%
₹ 2,500
0%
₹ 5,000
Explanation
₹ 2,500
Debentures can be redeemed out of:
0%
Profit
0%
Capital
0%
Provision
0%
All of the above
Explanation
All of the above
Premium on redemption of debentures is a :
0%
Personal A/c
0%
Real A/c
0%
Nominal A/c
0%
Suspense A/c
Explanation
Nominal A/c
Premium on redemption of debentures is generally provided at the time of ……………
0%
Issue of debentures
0%
Redemption of debentures
0%
Writing off
0%
After 10 years
Explanation
Redemption of debentures
Debentures cannot be redeemed at:
0%
Par
0%
Premium
0%
Discount
0%
More than 10% premium
Explanation
Discount
If debentures purchased in open market are not immediately cancelled, they are treated as :
0%
Current Assets
0%
Current Liabilities
0%
Investment
0%
Capital
Explanation
Investment
Sources of finance of the redemption of debentures are:
0%
Redemption out of profits
0%
Redemption out of capital
0%
The proceeds from fresh issue of shares/debentures
0%
All the above
Explanation
All the above
A company issued 1,000, 12% debentures of ₹ 100 each at 10% premium. 12% stand for:
0%
Rate of dividend
0%
Rate of Tax
0%
Rate of interest
0%
None of these
Explanation
Rate of interest
A company should transfer to Debenture Redemption Reserve A/c at least what percent of the amount of debentures issued before the commencement of redemption of debentures-
0%
50%
0%
25%
0%
15%
0%
100%
Explanation
25%
If redemption of debentures is made by conversion method, the amount to be transferred to ‘Debenture Redemption Reserve Account’ will be equal to…….percent of converted amounted.
0%
40
0%
50
0%
60
0%
Not required
Explanation
Not required
Loss on Issue of Debenture Account is shown:
0%
On Assets side of Balance Sheet
0%
On Liabilities side of Balance Sheet
0%
On Credit side of P & L Account
0%
None of these
Explanation
On Assets side of Balance Sheet
Profit on sale of Sinking Fund Investment is transferred to:
0%
Profit & Loss Account
0%
General Reserve
0%
Sinking Fund Account
0%
Capital Reserve
Explanation
Sinking Fund Account
Premium on Redemption of Debentures A/c is:
0%
Asset
0%
Expenses
0%
Liability
0%
Revenue
Explanation
Liability
Interest on sinking fund investment is credited to :
0%
Profit & Loss A/c
0%
Sinking Fund A/c
0%
General Reserve A/c
0%
Sinking Fund Investment A/c
Explanation
Sinking Fund A/c
Sinking fund investment is:
0%
An Income
0%
An exause
0%
An Asset
0%
A Liability
Explanation
An Asset
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