CBSE  /  Class 12  /  Accountancy  /  Accounting for Share Capital

  • 1. 
    Premium on issue of shares can be used for :

  • Issue of Bonus shares
  • Distribution of Profit
  • Transferring to General Reserve
  • All these

  • 2. 
    If equity share of ₹ 10 Rs. each is issued at ₹ 12 each, it is called:

  • Issued at Par
  • Issued at Premium
  • Issued at Discount
  • None of these

  • 3. 
    The maximum capital beyond which a company is not allowed to raise funds, by issue of shares is called …………..

  • Issued capital
  • Reserve capital
  • Authorised capital
  • Subscribed capital

  • 4. 
    As per Table F the maximum rate of interest on calls in advance paid is:

  • 8% p.a.
  • 12% p.a.
  • 5 % p.a.
  • None of these

  • 5. 
    As per the Companies Act, only preference shares, which are redeemable within …………. can be issued.

  • 24 years
  • 22 years
  • 30 years
  • 20 years

  • 6. 
    Which one of the following is the registered capital of the company ?

  • Paid-up capital
  • Uncalled capital
  • Authorised capital
  • Issued capital

  • 7. 
    Dividends are usually paid on :

  • Authorised Capital
  • Issued Capital
  • Called-up Capital
  • Paid-up Capital

  • 8. 
    If vendors are issued fully paid shares of ₹ 1,00,000 in consideration of net assets of ₹ 1,20,000 the balance of ₹ 20,000 will be credited to :

  • Goodwill Account
  • Capital Reserve Account
  • Vendor’s Account
  • Profit & Loss Account

  • 9. 
    Which account should be debited when shows an issued to promoters:

  • Share Capital A/c
  • Assets A/c
  • Promoter’s A/c
  • Goodwill A/c

  • 10. 
    According to Section 52 of the Compaines Act, the amount in the Securities Premium Account cannot be used for the purpose of:

  • Issue of fully Paid Bonus Shares
  • Writing Off Losses of the Company
  • Writing off Preliminary Expenses
  • Writing Off Commission or Discount on Issue of Shares
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