Corporate Accounting Set 6

Bachelor of Business Administration (BBA),

Bachelor of Commerce (B Com)

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This set of Corporate Accounting Multiple Choice Questions & Answers (MCQs) focuses on Corporate Accounting Set 6

Q1 | Right shares are issued to ------
Q2 | Shares which carry preferential rights are called ------
Q3 | A company cannot issue redeemable preference shares for a period exceeding ……….
Q4 | Preference shares can be redeemed….
Q5 | Premium on redemption of preference shares can be provided out of ….
Q6 | At present, a company limited by shares cannot issue …..preference shares
Q7 | Capital redemption reserve is created out of
Q8 | Capital redemption reserve can be utilized for…
Q9 | ------- profit means profit which would otherwise be available for distribution ofdividend.
Q10 | Which of the following is not a source of redemption of preference shares?
Q11 | The nominal value of preference shares to be redeemed can be provided out of ------
Q12 | Redemption of preference shares should not be regarded as reduction of ----- capital ofthe company.
Q13 | Buyback of shares should not exceed ….percent of paid up capital and free reserve of thecompany.
Q14 | Under the scheme of buyback of shares , the company in order to perform its obligations , is required to open an ….account
Q15 | Debenture represents ….of the company
Q16 | Debenture holders are ….of the company
Q17 | Loss on issue or discount on issue of debenture is a…..asset
Q18 | When debentures are redeemed out of profits, an amount equal is transferred to…..
Q19 | Profit on sale of sinking fund investment is credited to ….
Q20 | When own debentures are cancelled any profit on cancellation is transferred to …
Q21 | Premium on issue of debentures is a….
Q22 | ------ is a document which either creates or acknowledges a debt.
Q23 | -------- debentures are secured by a charge on the assets of the company.
Q24 | -------- is a document prepared by the company before the issue of prospectus to thepublic for subscription of debentures.
Q25 | Companies may issue debentures as security against loans taken from banks/financialinstitutions.
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