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- 1. Multiple Choice
Debenture holders are ____________of the Company
Debtors
Creditors
Customers
Owners
- 2. Multiple Choice
Liability of a shareholder is limited to ___________ of the shares allotted
Paid up value
Called up value
Face value
Reserve price
- 3. Multiple Choice
The part of the capital which can be called-up only in case of winding up of the Company is called ___________
Authorised Capital
Called up Capital
Uncalled Capital
Reserve Capital
- 4. Multiple Choice
The shares which are issued above the face value is called _________
Issue at a loss
Issue at a profit.
Issue at a premium
Issue at a discount
- 5. Multiple Choice
Following amounts were payable on issue of shares by a Abtech Ltd. Rs.20 on application, Rs. 40 on allotment.
Rs. 20 on first call and Rs. 20 on final call. Raj holding 1,000 shares paid only application and allotment money whereas James holding 800 shares did not pay
final call. Amount of calls in arrears will be________.
42,000
56,000
72,000
66,000
- 6. Multiple Choice
A Company purchased a building for Rs. 7, 20,000 and issued as payment equity shares at 20% premium.
Journal Entry will be _______________
Share Capital a/c Dr................ 8,00,000
To Building a/c …................................................ 7,20,000
To Securities Premium a/c ….............................. . 80,000
Building a/c Dr................ 8,00,000
To Share Capital a/c …............................................... 6,40,000
To Securities Premium a/c …...................................... 1,20,000
Share Capital a/c Dr................ 7,20,000
To Building a/c …................................................ 7,00,000
To Securities Premium a/c ….............................. 20,000
Building a/c Dr................ 7,20,000
To Share Capital a/c …............................................... 6,00,000
To Securities Premium a/c …..................................... 1,20,000
- 7. Multiple Choice
When a company issues Debentures as collateral security, it will debit __________
Bank Account
Bank Loan Account
Debentures Suspense Account
Debentures Account
- 8. Multiple Choice
If Vendors are issued debentures of
Rs. 2,40,000 in consideration of
net assets of Rs. 3,00,000 then the balance of Rs. 60,000 will be transferred to __________
Statement of Profit & Loss
Capital Reserve Account
Goodwill Account
General Reserve Account
- 9. Multiple Choice
Following is not a right of a shareholder ____________
To receive a dividend declared by the company
To attend and vote a meetings
To manage Company's affairs
To receive the company's accounts
- 10. Multiple Choice
The Shareholders' gets dividends, Debenture holders will get __________
Interest
Fees
Commission
Bonus
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