CBSE  /  Class 12  /  Accountancy  /  Accounting for Share Capital

  • 1. 
    Reserve share capital means :

  • Part of authorised capital to be called at the beginning
  • Portion of uncalled capital to be called only at liquidation
  • Over subscribed capital
  • Under subscribed capital

  • 2. 
    When full amount is due on any call but it is not received, then the short fall is debited to :

  • Calls-in-advance
  • Calls-in-arrear
  • Share Capital
  • Suspense Account

  • 3. 
    The difference between subscribed capital and called up capital is called :

  • Calls-in-arear
  • Calls-in-advance
  • Uncalled capital
  • None of these

  • 4. 
    Which statement is issued before the issue of shares ?

  • Prospectus
  • Articles of Association
  • Memorandum of Association
  • All of these

  • 5. 
    Company can utilise securities premium for :

  • Writing off loss incurred on revaluation of asset
  • Issuing fully paid bonus shares
  • Paying divided
  • Writing off trading loss

  • 6. 
    When a company issues fully paid shares to promoters

  • Bank A/c Dr. To Share Capital A/c
  • Good will A/c Dr. To Share Capital A/c
  • Promoters Personal A/c Dr. To Share Capital A/c
  • Promotion Expenses A/c Dr. To Share Capital A/c

  • 7. 
    When a company issues shares at a premium, amount of premium may be received by the company :

  • Along with application money
  • Along with application money
  • Along with calls
  • Along with any of the above

  • 8. 
    Share Application Account is :

  • Personal Account
  • Real Account
  • Nominal/ Account
  • None of these

  • 9. 
    Secrities Premium can not be applied :

  • For paying dividend to members
  • For issuing bonus shares to members
  • For writing off preliminary expenses of company
  • For writing off discount on issue of debentures

  • 10. 
    A joint stock company is :

  • An artificial legal person
  • Natural person
  • A general person
  • None of these
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