Financial Accounting 2 MCQs

V

Vikash Gupta • 29.26K Points
Instructor II

Q 11. Cancelation of shares mean

(A) reissue of shares
(B) valuation of shares
(C) forfeiture of shares
(D) allotment of shares

P

Priyanka Tomar • 31.09K Points
Instructor I

Q 12. If the minimum subscription is not received by the company, then the refund of application money should be made within ______ days.

(A) 7
(B) 9
(C) 10
(D) 22

P

Priyanka Tomar • 31.09K Points
Instructor I

Q 13. Debentures can be issued only

(A) at par
(B) at discount
(C) premium
(D) any of the above

P

Praveen Singh • 32.12K Points
Instructor I

Q 14. Dividends are usually paid as a percentage of

(A) authorized capital
(B) net profit
(C) paid up capital
(D) called up capital

V

Vinay • 24.32K Points
Instructor III

Q 15. Debenture holders are the _____ of the company

(A) owners
(B) customers
(C) creditors
(D) partners

P

Priyanka Tomar • 31.09K Points
Instructor I

Q 16. Debenture holders have right to receive _______ even if there is no profit

(A) interest
(B) commission
(C) dividend
(D) bonus

V

Vikash Gupta • 29.26K Points
Instructor II

Q 17. Shareholders get:

(A) interest
(B) dividend
(C) bonus
(D) commission

P

Priyanka Tomar • 31.09K Points
Instructor I

Q 18. Preference shares have priority over equity shares for

(A) payment of dividend and repayment of capital
(B) voting in annual general meeting
(C) subscribe for new issue of shares and debentures
(D) interest on money invested in company

R

Ram Sharma • 193.65K Points
Coach

Q 19. After the issue of forfeited shares, balance of forfeited shares account Is transferred to

(A) capital reserves a/c
(B) share capital
(C) general reserves
(D) profit & loss a/c

P

Praveen Singh • 32.12K Points
Instructor I

Q 20. Securities premium account can be used for

(A) paying tax liability
(B) paying dividend on shares
(C) allowing discount in reissue of forfeited shares
(D) to write off preliminary expenses

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