Corporate Accounting MCQs

M

Mr. Dubey • 51.62K Points
Coach

Q 71. The minimum amount of capital which must be subscribed by the public before a public company can allot shares is ‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐

(A) Allotment money
(B) Minimum subscription
(C) Subscribed capital
(D) Issued capital.

M

Mr. Dubey • 51.62K Points
Coach

Q 72. Called up capital minus calls in appear is ‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐

(A) Subscribed capital
(B) Registered capital
(C) Paid up capital
(D) Uncalled capital.

M

Mr. Dubey • 51.62K Points
Coach

Q 73. Preference shares cannot be redeemed unless they are ‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐

(A) Partly paid
(B) Fully paid
(C) Twice paid up
(D) One by two paid up.

M

Mr. Dubey • 51.62K Points
Coach

Q 74. ‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐ have priority over equity as to the receipt of individuals and as to assets in the event of liquidation.

(A) Equity shares
(B) Deferred shares
(C) Preference shares
(D) Sweat equity shares

M

Mr. Dubey • 51.62K Points
Coach

Q 75. When shares are forfeited the share capital account is debited by ‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐

(A) Calls‐in‐arrears
(B) Called up amount
(C) Paid up amount
(D) Subscribed amount

M

Mr. Dubey • 51.62K Points
Coach

Q 76. Share can be forfeited for ‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐.

(A) For non‐payment of call money
(B) For failure to attend meetings
(C) Failure to repay the loan
(D) None of these.

M

Mr. Dubey • 51.62K Points
Coach

Q 77. Dividend is payable on the ‐‐‐‐‐‐‐‐‐‐‐‐‐‐ of the shares.

(A) Paid up value
(B) Called up value
(C) Calls in advance
(D) None of these.

M

Mr. Dubey • 51.62K Points
Coach

Q 78. Once the share premium account is credited the same, if the premium is not received.

(A) Cannot be debited
(B) Cannot be credited
(C) Can be debited
(D) Can be credited

M

Mr. Dubey • 51.62K Points
Coach

Q 79. When shares originally issued at discount are forfeited, the discount in respect of them is to be ‐‐‐‐‐‐‐

(A) Debited
(B) Credited
(C) Paid
(D) None of these

M

Mr. Dubey • 51.62K Points
Coach

Q 80. Which of the following not the uses of share premium.

(A) Issue of partly paid bonus shares
(B) Issue of fully paid bonus shares
(C) Write off preliminary expense
(D) Write off expenses on the issue of shares.