Corporate Accounting Set 11
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This set of Corporate Accounting Multiple Choice Questions & Answers (MCQs) focuses on Corporate Accounting Set 11
Q1 | The company in which the liability of members is liable to pay the agreed amount at thetime of winding up is called as …………..
- Unlimited Company
- Company limited by shares
- Company limited by guarantee
- Liquidating Company
Q2 | A company in which the transferability of share is restricted is called as …………..
- Government Company
- Private Company
- Public Company
- Foreign Company
Q3 | ……….is the first stage in the formation of a public company
- Promotion
- Incorporation
- Capital Subscription
- Commencement
Q4 | Authorised capital is called as……………
- Reserve capital
- Nominal Capital
- Capital Reserve
- Subscribed capital
Q5 | …………..is that portion of capital which is called up only on winding up of the company.
- Authorised Capital
- Issued capital
- Subscribed capital
- Reserve capital
Q6 | In case of ……………..preference shares, the arrears of dividend are carried forward and paidout of the profits of the subsequent years.
- Participating
- Convertible
- Cumulative
- Redeemable
Q7 | …………..shares are repayable after the expiry of the fixed period or at the option of thecompany.
- Participating
- Convertible
- Cumulative
- Redeemable
Q8 | A bundle of fully paid shares is called……………..
- Stock
- Sweat Equity
- Warrant
- None of these
Q9 | IPO stands for ………………
- Initial Private Offer
- International Public Offer
- Initial Public Offer
- International Private Offer
Q10 | In …... the company offers the investors an opportunity to bid collectively.
- Private Placement
- Offer for sale
- Book building
- IPO
Q11 | As per the companies Act, the interest on calls in advance is …………..
- 10%
- 6%
- 5%
- 7%
Q12 | The rate of interest on Calls in arrears as per Companies Act is …………
- 10%
- 6%
- 5%
- 7%
Q13 | The shares of a company can be issued at …………..
- Par
- Premium
- Discount
- All of these
Q14 | Share application account is a ………..
- Real Account
- Nominal Account
- Impersonal Account.
- Personal Account
Q15 | The rate of discount on shares cannot exceed ……….
- 10%
- 5%
- 6%
- 7%
Q16 | A newly established company cannot issue shares at ……
- Par
- Premium
- Discount
- All of these
Q17 | ………..of total issued amount of capital is called minimum subscription.
- 75%
- 90%
- 95%
- 80%
Q18 | The rate of discount should not exceed ……………. Of nominal vale of shares.
- 10%
- 5%
- 6%
- 7%
Q19 | The minimum application money to be paid by an applicant must not be less than …….as perCompanies Act.
- 10%
- 5%
- 15%
- 20%
Q20 | The excess price received on the par value of shares should be credited to ………….
- Calls in advance A/c
- Reserve Capital A/c
- Security Premium A/c
- None of these
Q21 | Underwriting commission is classified as …………..
- Capital Loss
- Capita Expenditure
- Revenue expenditure
- Deferred revenue expenditure
Q22 | Compulsory cancellation of shares by the company\y due to non‐payment of allotment orcall money is called …………….
- Surrender of Shares
- Buy back of shares
- Forfeiture of shares
- All of these
Q23 | The profit on reissue of forfeited shares is transferred to ………
- General reserve
- Capital Redemption reserve
- Capital reserve
- Investment Allowance reserve
Q24 | Preference shareholders are…………
- Debtors of the company
- Creditors of the company
- Owners of the company
- None of these
Q25 | The shares firstly offered to the existing shareholders are called as ………….
- Right shares
- Bonus shares
- Ordinary shares
- None of these