Financial Accounting 2 MCQs

A

Admin • 32.61K Points
Instructor I

Q 21. Forfeiture of shares results in compulsory termination of ______ due to non-payment of allotment/call money

(A) allotment
(B) membership
(C) subscription
(D) issue

G

Gopal Sharma • 33.96K Points
Instructor I

Q 22. Right shares are issued to _________ shareholders

(A) previous
(B) existing
(C) future
(D) none of these

S

Shiva Ram • 26.21K Points
Instructor II

Q 23. Bonus shares are issued out of _________

(A) capital reserve
(B) free reserve
(C) share premium
(D) none of these

V

Vinay • 24.32K Points
Instructor III

Q 24. Bonus shares are issued by ________ free reserves

(A) generalizing
(B) capitalizing
(C) equalizing
(D) none of these

P

Priyanka Tomar • 31.09K Points
Instructor I

Q 25. When bonus share are received the average cost of the existing shares are ______

(A) reduced
(B) increased
(C) equal
(D) none of these

V

Vikash Gupta • 29.26K Points
Instructor II

Q 26. A company can issue share at a discount if

(A) one year have been elapsed since the date at which the company was allowed to commence business
(B) shares issued at a discount must belong to a class of shares already issued
(C) issue must take place within two must after the date of sanction by the court or within extended time.
(D) all of the above

P

Praveen Singh • 32.12K Points
Instructor I

Q 27. Which of the following is not a statistical book of a company?

(A) share application and allotment book
(B) register of share warrants
(C) register of shares and debentures transferred
(D) register of debenture holders

R

Rakesh Kumar • 24.11K Points
Instructor III

Q 28. According to sec. 100(1)(c) of the companies act, a company can pay back share capital which is in excess of need if:

(A) authorized by articles
(B) confirmation of the court
(C) special resolution is passed to that effect
(D) all of the above

R

Ram Sharma • 193.65K Points
Coach

Q 29. Redeemable Preference shares can be redeemed out of __________

(A) the sale proceeds of investments
(B) the proceeds of a fresh issue of shares
(C) share premium
(D) the proceeds of issue of debentures

V

Vinay • 24.32K Points
Instructor III

Q 30. Which of the following statement is false:

(A) bonus issue is made in lieu of dividend
(B) bonus issue is not made unless the partly paid shares are made fully paid up
(C) bonus issue must be implemented within six months from the date of approval
(D) bonus is simply capitalisation of free reserve

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