Quiz on Company Accounts Issue of SharesResults #1. The document inviting to subscribe the shares of a company is ……………… . Prospectus Prospectus Memorandum of Association Memorandum of Association Articles of Association Articles of Association Share Certificate Share Certificate #2. The share capital which a company is authorised to issue by its memorandum of association is ……………. Nominal Capital/Authorised Capital Nominal Capital/Authorised Capital Issued Capital Issued Capital Paid up Capital Paid up Capital Reserve Capital Reserve Capital #3. Nominal Value of shares allotted to the public is ………….. called capital. Authorised Authorised Reserved Reserved Paid up Paid up Subscribed Subscribed #4. Paid up value of all shares allotted is called capital …………… Uncalled Uncalled Issued Issued Subscribed Subscribed Nominal Nominal #5. The liability of shareholder in Joint Stock Company is ……………. Joint and several Joint and several Limited Limited Unlimited Unlimited Huge Huge #6. A shareholder is a …….. of a joint stock company. owner owner partner partner Debtor Debtor Creditor Creditor #7. Shareholders get ……………… on shares. commission commission interest interest Dividend Dividend Rent Rent #8. As per SEBI guidelines minimum amount payable on share application should be ……………… of nominal value of shares. 10% 10% 15% 15% 2% 2% 5% 5% #9. If shares are issued at its face value, it is called as issue at ……………… Premium Premium Discount Discount Par Par None of these None of these #10. If shares are issued above its face value, it is called as issue at ……………….. Par Par Premium Premium Discount Discount None of these None of these #11. Premium received on issue of shares is shown to ……………… Liability side of balance sheet Liability side of balance sheet Asset side of balance sheet Asset side of balance sheet Profit and loss account debit side Profit and loss account debit side Profit and loss account credit side Profit and loss account credit side #12. The unpaid amount on allotment and calls may be transferred to ………… account. Calls in advance Calls in advance calls calls Calls in Arrears Calls in Arrears Allotment Allotment #13. ……………… is deducted from the share capital to know paid up value of shares. Calls-in-advance Calls-in-advance Calls-in-arrears Calls-in-arrears Forfeited shares Forfeited shares Discount on Issue Discount on Issue #14. Interest on calls-in-Arrears is ………….. for the company. Income Income Expenditure Expenditure Gain Gain Loss Loss #15. There must be a provision in ………… for forfeiture of shares. Articles of Association Articles of Association Memorandum of Association Memorandum of Association Prospectus Prospectus Balance Sheet Balance Sheet #16. When shares are forfeited the share capital account is ……………… . Credited Credited Debited Debited Neither debited nor credited Neither debited nor credited None of the above None of the above #17. The balance of share forfeiture account is transferred to …………… account after re-issue of these shares. Reserve Capital Reserve Capital Capital Reserve Capital Reserve Profit and Loss Profit and Loss Share capital Share capital #18. On forfeiture of shares, share capital is …………….. Debited by called up amount Debited by called up amount Debited by paid up amount Debited by paid up amount Debited by nominal value Debited by nominal value None of these None of these #19. if minimum subscription is 10,000 shares 0R10 per share and applications are received for 9000 shares then, ………….. Full allotment will be made. Full allotment will be made. There will be no allotment and all application money will be forfeited. There will be no allotment and all application money will be forfeited. There will be no allotment and all application money will be refunded. There will be no allotment and all application money will be refunded. None of these None of these #20. Called up capital less Calls-in ……………….. arrearsis Subscribed Capital Subscribed Capital Paid up Capital Paid up Capital Authorised capital Authorised capital Reserves Reserves Finish
