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
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