CBSE  /  Class 12  /  Accountancy  /  Accounting for Share Capital

  • 1. 
    Equity shareholders are :

  • Customers
  • Creditors
  • Debtors
  • Owners

  • 2. 
    Reserve capital means :

  • A part of subscribed uncalled capital
  • Reserve Profit
  • A part of Capital Reserve
  • A part of Capital Redemption Reserve

  • 3. 
    Securities Premium is shown under which head in the Balance Sheet ?

  • Reserve and Surplus
  • Miscellaneous Expenditure
  • Current Liabilities
  • Share Capital

  • 4. 
    Shares may be issued :

  • At par value
  • At FYemimum
  • At Discount
  • Both (a) & (b)

  • 5. 
    Capital included in the liabilities of a company is called :

  • Authorised Capital
  • Issued Capital
  • Subscribed Capital
  • Paid-up Capital

  • 6. 
    An issue of shares which is not a public issue but offered to a selected group of persons is called :

  • Public offer
  • Private placement of shares
  • Initial public offer
  • None of these

  • 7. 
    If a share of ₹ 10 on which ₹ 8 has been called and ₹ 6 is paid is forfeited, the Share Capital Account should be debited with :

  • ₹ 8
  • ₹ 10
  • ₹ 6
  • ₹ 2

  • 8. 
    When shares are forfeited, the Share Capital Account is debited with:

  • Nominal value of Shares
  • Market value of Shares
  • Called-up value of Shares
  • Paid-up value of Shares

  • 9. 
    If the loss on reissue of shares is less than the amount forfeited, the ‘surplus’ or profit is transferred to :

  • Capital Reserve
  • Revenue Reserve
  • Profit & Loss A/c
  • None of these

  • 10. 
    J. Ltd. re-issue 2,000 shares which where forfeited by crediting share forfeiture account by ₹ 3,000. These shares were re-issued at ₹ 9 per share. The amount transferred to capital reserve will be :

  • ₹ 3,000
  • ₹ 2,000
  • ₹ 1000
  • Nil
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