CBSE  /  Class 12  /  Accountancy  /  Accounting for Share Capital

  • 1. 
    If a share of ₹ 10 on which ₹ 8 has been paid up is forfeited, it can be reissued at the minimum price of…….

  • 10 Rs. per share
  • 8 Rs. per share
  • 5 Rs. per share
  • 2 Rs. per share

  • 2. 
    Z & Co. forfeited 100 shares of 10 Rs. each for non-payment of final call of 2 Rs. per share. All the forfeited shares were re-issued at 9 Rs. per share. What amount will be transferred to Capital Reserve A/c ?

  • 700 Rs.
  • 800 Rs.
  • 900 Rs.
  • 1,000 Rs.

  • 3. 
    Forfeiture of shares results in the reduction of:

  • Paid-up Capital
  • Authorised Capital
  • Fixed Assets
  • Reserve Capital

  • 4. 
    Amount of calls in Arrear is :

  • Added to capital
  • Deducted from share capital
  • Shown on the assets side
  • Shown an the equity and liability side

  • 5. 
    Discount allowed on reissue of forfeited shares is debited to:

  • Share Capital A/c
  • Share Forfeiture A/c
  • Profit & Loss A/c
  • General Reserve A/c

  • 6. 
    A company has…………

  • Separate Legal Entity
  • Perpetual Existence
  • Limited Liability
  • All the above

  • 7. 
    The liability of members in a company is :

  • Limited
  • Unlimited
  • Stable
  • Fluctuating

  • 8. 
    Equity shareholders are :

  • Creditors of the company
  • Owners of the company
  • Customers of the company
  • None of these

  • 9. 
    Balance of Forfeited Shares Account after reissue of forfeited shares is transferred to :

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

  • 10. 
    Under the provisions of Companies Act, company can issue:

  • Only equity shares
  • Only preference shares
  • Preference shares and equity shares
  • None of these
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