Q. No dividend is payable on calls in ‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐
✅ Correct Answer: (D)
Advance
Corporate Accounting MCQs and Notes
Q. Advance payment of tax should be shown on the ‐‐‐‐‐‐‐‐‐‐‐‐ side of the balance sheet.
✅ Correct Answer: (B)
Asset side
Q. ‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐ capital of a company can be called up only in the event of winding up.
✅ Correct Answer: (A)
Reserve
Q. When shares are oversubscribed, allotment is made on ‐‐‐‐‐‐‐‐‐‐‐‐‐‐ basis
✅ Correct Answer: (B)
Pro‐data
Q. Find the odd one:‐
✅ Correct Answer: (C)
To distribute dividend in cash
Q. Right issue means issue of shares to ‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐
✅ Correct Answer: (B)
Existing share holders
Q. If a share of Rs.10 is issued at a premium of 20%, the issue price is ‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐
✅ Correct Answer: (B)
Rs.12
Q. If one share is allotted for every five shares applied, an applicant for 1,000 shares will get ‐‐‐‐‐‐‐‐‐‐‐
✅ Correct Answer: (A)
200 shares
Q. When 500 shares of Rs. 10 each on which Rs.3 on final call is not paid, share forfeited account is credited with ‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐
✅ Correct Answer: (B)
Rs.3,500