MCQGeeks
0 : 0 : 1
CBSE
JEE
NTSE
NEET
English
UK Quiz
Quiz
Driving Test
Practice
Games
Quiz
Commerce
Debentures
Quiz 1
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
Q.1
X LTD REDEEMED 6,,DEBENTURES OF RSEACH ATBY CONVERTING THEM INTO EQUITY SHARES OF RSEACH AT RSSTATE THE NO. OF EQUITY SHARES ISSUED?
52,500
55,000
51,500
56,500
Q.2
ABC limited issues 10,debentures ofeach at a premium of , repayable at a premium of 10%, the loss on issue of debentures account will be debited to by -
Rs10,00,000
Rs1,00,000
Rs10,50,000
Rs1,05,000
Q.3
Unrecorded Liabilities when paid are debited to-
a)Realization account
b) Partners’ capital account
c) Bank
d) None of the above
Q.4
A firm is unable to pay its debts when
a) a partner is insolvent
b) a partner has debit balance
d) a suit against the firm
c) the firm is insolvent
Q.5
3-realization account is a
a) nominal account
b) personal account
c) real account
d) impersonal account
Q.6
WHICH COMPANIES ARE EXEMPTED FROM CREATING DEBENTURE REDEMPTION RESERVE BY SEBI ?
INFRASTRUCTURE COMPANIES
FINANCIAL INSTITUTION AND BANKING COMPANIES
PRIVATE COMPANY
MULTINATIONAL COMPANY
Q.7
4-when the realsation expenses are to borne by a partner. It is credited to-
a) cash account
b) realization account
d) partners’ capital
c) profit and loss account
Q.8
5-at the time of dissolution of firm, assets taken over by partner should be
a) credited to realisation account
B)credited to partner capital account
C) debited to realization account
D) none of the above
Q.9
WHAT % OF AMOUNT AS PER RULE 18(7)C OF CO.ACT SHOULD INVEST OR OUTSIDE BEFORE 30TH APRIL OF EACH YEAR
25%
15%
50%
10%
Q.10
In the balance sheet of a company, interest accrued and due on debentures is shown under the main head
Share capital
Reserves and surplus
Current liabilities
Non current liabilities
Q.11
Discount on issue of debentures is restricted to
10%
20%
25%
None of these
Q.12
HP ltd. issueddebentures of Rs.each at Rs.It will creditdebentures account by
Rs. 5,00,000
Rs. 4,75,000
Either (a) or (b) as it decides
Rs. 5,25,000
Q.13
Apple computers ltd. issued 10,debentures of Rs.each at a discount of Rs. 6 on 1st OctoberInterest for the year ended 31st March,will be
Rs. 65,800
Rs. 32,900
Rs. 70,000
Rs. 35,000
Q.14
William pens ltd. issued 10,debentures of Rs.each at a discount of Rs.It has a balance in securities premium reserve of Rs. 25,It will write off discount on issue of debentures
Rs. 40,000 from securities premium reserve
Rs. 40,000 from statement of profit and loss
Rs. 25,000 from securities premium reserve and Rs. 15,000 from statement of profit and loss (finance cost)
Rs. 15,000 from securities premium reserve and Rs. 25,000 from statement of profit and loss (finance cost)
Q.15
Luxor pens ltd. issued 10,debentures of Rs.each at a discount of Rs. 4 redeemable at a premium of Rs.It will write of loss on issue of debentures
From securities premium reserve
From statement of profit and loss
From general reserve
None of these
Q.16
X LTD WANTS TO REDEEMDEBENTURES OF RS.EACH AT PREMIUM . HOW MUCH AMOUNT IT MUST TRANSFER TO DRR IF IT HAS ALREADY A BALANCE OF RS 1,00,IN DRR A/C?
RS 4,00,000
RS 25,000
RS 2,00,000
RS 2,50,000
Q.17
AS PER SEBI GUIDELINES AN AMOUNT EQUAL TO ___________ OF THE DEBENTURES ISSUE MUST BE TRANSFERRED TO DEBENTURE REDEMPTION RESERVE BEFORE REDEMPTION BEGINS.
50%
25%
80%
100%
Q.18
PROFIT ON CANCELLATION OF OWN DEBENTURES IS
REVENUE PROFIT
CAPITAL PROFIT
OPERATING PROFIT
TRADING PROFIT
Q.19
WHERE IS DEBENTURE REDEMPTION RESERVE TRANSFERRED AFTER THE REDEMPTION OF ALL DEBENTURES
CAPITAL RESERVE A/C
GENERAL RESERVE A/C
STATEMENT OF PROFIT AND LOSS
SINKING FUND ACCOUNT
Q.20
PROFIT ON REDEMPTION OF DEBENTURE IS TRANSFERRED TO WHICH ACCOUNT
CAPITAL RESERVE ACCOUNT
GENERAL RESERVE ACCOUNT
SINKING FUND ACCOUNT
STATEMENT OF P&L ACCOUNT
0 h : 0 m : 1 s
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
Report Question
×
What's an issue?
Question is wrong
Answer is wrong
Other Reason
Want to elaborate a bit more? (optional)
Support mcqgeeks.com by disabling your adblocker.
×
Please disable the adBlock and continue.
Thank you.
Reload page