• 1. 
    Own debentures are those debentures of the company which ?

  • The company allots to its own promotors
  • The company allots to its directors
  • The company purchases from the markets and hold them as investments
  • None of these
  • 2. 
    When debentures are redeemed out of profits, an equivalent amount is transferred to :

  • General Reserve
  • Debenture Redemption Reserve
  • Capital Reserve
  • Profit & Loss A/c
  • 3. 
    Profit on sale of debentures redemption fund investment in the first instance in credited to :

  • Debenture Redemption Fund A/c
  • Profit & Loss Appropriation A/c
  • General Reserve A/c
  • Sinking Fund A/c
  • 4. 
    When debentures are issued at a discount and are redeemable at a premium, which of the following accounts is debited at the time of issue ?

  • Debentures A/c
  • Premium on Redemption of Debentures A/c
  • Loss on Issue of Debentures A/c
  • Profit & Loss A/c
  • 5. 
    According to SEBI guidelines what percentage of the amount of debentures must be transferred to Debenture Redemption Reserve, before the commencement of redumption of debentures, in case of convertible debentures ?

  • 25%
  • 50%
  • 100%
  • zero
  • 6. 
    Profit on redemption of debentures in transferred to which account ?

  • Capital Reserve Account
  • Sinking Gund Account
  • General Reserve Account
  • Profit & Loss Account
  • 7. 
    Profit on cancellation of own debentures is :

  • Revenue Profit
  • Capital Profit
  • Operating Profit
  • Trading Profit
  • 8. 
    6,000 debentures of ₹ 10 each where discharged by issuing equity shares of ₹ 10 each at 20% premium. The number of shares issued will be :

  • 50,000
  • 60,000
  • 5,000
  • 6,000
  • 9. 
    Every company required to create DRR shall on or before the 30th April of each year, deposit or invest, a sum which shall not be less than…………of the amount of its debentures maturing (to be redeemed) during the year ending on 31st March of the next year.)

  • 10%
  • 15%
  • 25%
  • 50%
  • 10. 
    A Sinking Fund is a part of:

  • Fixed Liabilities
  • Current Liabilities
  • Reserves and Surplus
  • Fixed Assets
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