Corporate Accounting Set 18
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This set of Corporate Accounting Multiple Choice Questions & Answers (MCQs) focuses on Corporate Accounting Set 18
Q1 | Ind AS ……. Deals with share based payments
- 102
- 110
- 101
- 105
Q2 | The accounting concept that is principally used to classify leases intooperating and finance is…….
- substance over from
- prudence
- neutrality
- completeness
Q3 | Buy back of equity shares is a process of capital ……..
- reduction
- restructuring
- control
- none
Q4 | Assets are NPAs for a period exceeding 12 months are called ………….
- Standard Assets
- Substandard Assets
- Doubtful Assets
- Loss Assets
Q5 | ………is a form of agreement between two parties in which one partyagrees to make good for loss of another.
- Contract
- Insurance
- Banking
- Mutual fund
Q6 | The buy back of shares is also known as ……..
- corporate redemption
- corporate equity repurchase
- corporate equity valuation
- none
Q7 | The buy back of shares may be done
- at par
- at discount
- at premium
- all the above
Q8 | Interest on debenture is ….
- adjustment of profit
- appropriation of profit
- charge on profit
- none
Q9 | After all the debentures are redeemed the balance in the sinking fund is transferred to
- General reserve
- statutory reserve
- both A and B
- none
Q10 | Debenture is document which creates a……
- debt
- credit
- both A and B
- none
Q11 | When own debentures are cancelled, any profit on cancellation is transferredto
- general reserve
- capital reserve
- p&laccount
- none
Q12 | Profit not available for dividend includes
- CRR
- P&L account credit balance
- security premium
- None
Q13 | All the …… profits are not available for the purpose of redemption ofpreference shares
- revenue
- capital
- Both A and B
- none
Q14 | Profit and Loss Account of General Insurance Companies are prepared in …………
- Form A‐PL
- Form B‐RA
- Form B‐PL
- Form B‐BS
Q15 | The principle of subrogation is applicable to……………
- Fire Insurance
- Marine Insurance
- Burglary Insurance
- All of thes
Q16 | The shares firstly offered to the existing shareholders are called as …………
- Right shares
- Bonus shares
- Ordinary shares
- None of these
Q17 | The security premium account is shown in the balance sheetunder the head……….
- Share capital
- Reserves & Surplus
- Secured loans
- Current liabilit
Q18 | ……..should be deducted from the share capital to determine the paid up capital.
- Security premium
- Calls in advance
- Calls in arrears
- Discount on issue
Q19 | The share capital account is debited with …………while forfeiting shares
- Calls in arrears
- Paid up capital
- Called capital
- Issued capital
Q20 | Discount or loss on issue of debenture is shown in the balance sheet under the head ……..
- Reserves & Surplus
- Secured loans
- Current liabilities
- Miscellaneous expenditure
Q21 | Debentures can be redeemed out of ……….
- Fresh issue
- Capital
- Profit
- All of these
Q22 | When preference shares are redeemed, it amounts to
- increase in share capital
- decrease in share capital
- Both A and B
- none
Q23 | Capital redemption reserve is created….
- out of security premium
- to meet legal requirements
- Voluntarily
- none
Q24 | No company limited by shares shall issue any preference share which isredeemable after the expiry of …….. years from the date of issue.
- 20
- 15
- 10
- 25
Q25 | Under Double account system, the balance sheet is prepared in ……parts
- three
- two
- one
- none