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Sunday,May17,2015 AHSECCMST11

CorporateAccountingMultipleChoiceQuestionsforUpcomingExam AHSECEconomics11

CorporateAccountingmultiplechoicequestions
FillintheBlanks:
DUB.COM2NDSEMESTERNOTES
a)ShareapplicationaccountisapersonalAccount.
BusinesscommunicationIINotes
b)DividenddeclaredbetweentwoannualgeneralmeetingsisknownasInterimDividend.
c)Reductionofcapitalisunlawfulexceptwhensanctionedbythecourtundersec.61. BusinessEconomicsNotes
d)PreacquisitionProfitsaretreatedascapitalProfit.
CorporateAccountingNotes
e)TheminimumShareApplicationmoneyis5%ofthefacevalueofshares.
PrinciplesofBusinessManagementNotes
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f)AccountingforAmalgamationisdoneasperAccountingStandard14.
g)ConsolidatedFinancialStatementsarepreparedasperAccountingStandard21.
h)TheportionoftheauthorizedcapitalwhichcanbecalleduponlyontheliquidationofthecompanyiscalledReservecapital. DUB.COM4THSEMESTERNOTES
i)Adebentureholderisthecreditorofacompany.
AuditingNotes
j)Section2(87)oftheCompaniesAct,2013definesasubsidiarycompany.
k)PublicLtd.Companiescannotissuedeferredshares.(Equity/Preference/Deferred). CompanyLawNotes
l)PreferenceSharescanberedeemediftheyarefullypaidup.
ConsumerBehaviourNotes
m)IncaseofholdingcompanysharesheldbyoutsidersareknownasMinorityInterest.
CostAccountingNotes
n)Internalreconstructionmeansreductionofasharecapitalofacompanywhichistobereconstructed.
IndianBankingSystemNotes
o)Ifsharesareforfeited,sharecapitalaccountisdebitedwiththeamountofcalledupvalueofshares.
IndustrialRelationsNotes

Statethefollowingstatementswhethertrueorfalse SecurityAnalysisandPortfolioManagement
a)ExternalReconstructionmeansreductionofsharecapitalofacompanywhichistobereconstructed.False
Notes

b)ConsolidatedFinancialStatementsarepreparedasperAccountingStandard21.True
c)Outofthefacevalueoftheshareattheleast10%ispayablewithapplication.False
DUB.COM6THSEMESTERNOTES
d)Debentureholderswithbeentitledontheirdebenturesinterestevenifthereislosstoacompany.True
e)Minorityinterest=Paidupvalueofsharesheldbyoutsider.False DirectTaxLawIINotes
f)Thedirectorofthecompanymustbeashareholder.FalseasperCompaniesAct,2013
IncometaxNotes
g)Capitalreserveisutilisedtomeetcapitallosses.True
IndianFinancialSystemNotes
h)Preacquisitionprofitsaretreatedasrevenueprofit.False
i)Preferencesharecannotberedeemedunlesstheyarefullypaidup.True ResearchMethodologyNotes
j) Profits made by subsidiary company after the date of acquisition of shares by the holding company are treated as revenue
profits.True
k)Adebentureholderisanownerofthecompany.False SELECTYOURLANGUAGE
l) Under net payment method purchase consideration is calculated by adding the various payments made by the purchasing
company.False SelectLanguage
m)LossonissueofDebentureAccountordebenturediscountisacapitalloss,notasset.True Poweredby Translate

n)ReductionofCapitalisanunlawfulexceptwhensanctionedbytheCourt.True

BlogArchive
Choosethecorrectanswertothefollowingquestionsfromthegivenalternatives:
1.ShareallotmentAccountis May2017(4)
a)Personal April2017(95)
b)Real
March2017(48)
c)Nominal
2.PublicLtdcompaniescannotissue February2017(3)
a)SweetEquityShares
January2017(11)
b)DeferredShares
c)Preferenceshares December2016(21)

3.CapitalRedemptionReserveisused November2016(18)
a)ForwritingofCapitallosses
October2016(15)
b)Forissuingpartlypaidbonusshare
c)Forissuingfullypaidbonusshare May2016(2)

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4.DebentureHoldersarethe
April2016(74)
a)Ownerofthecompany
b)Membersofthecompany
March2016(13)

c)Creditorsofthecompany February2016(8)
5.Callinarrearisshown
November2015(1)
a)Undertheheadcurrentliabilities
b)Bydeductingfromthecalledupcapital October2015(55)
c)Undertheheadcurrentliabilities September2015(15)
6.Internalreconstructionmeans
August2015(2)
a)Amalgamationinnatureofmerger
b)Absorption July2015(3)
c)CapitalReduction
June2015(6)
7.PostacquisitionProfitis
a)CapitalProfit
May2015(24)

b)RevenueProfit April2015(59)
c)SuperProfit
March2015(4)
8.Preacquisitionprofitis
a)CapitalProfit February2015(21)

b)RevenueProfit December2014(31)
c)SuperProfit
November2014(43)
9.ThemaximumallowablediscountonEquitysharesis
a)10% October2014(28)
b)8%
September2014(1)
c)5%
August2014(40)
10.Dividendisusuallypaidon
a)Calledupcapital July2014(5)
b)Nominalcapital
June2014(4)
c)Paidupcapital
11.AspertheSEBIsguidelinestheminimumapplicationmoneyshallnotbelessthan May2014(110)

a)25%ofissueprice April2014(19)
b)10%oftheissueprice
March2014(18)
c)6%oftheissueprice
12.ConsolidatedFinancialStatementsarepreparedasperAccountingStandard February2014(15)
a)19 January2014(25)
b)21
December2013(10)
c)23
13.CapitalRedemptionReserveAccountcanbeUtilizedfor November2013(24)
a)Writingoffpastlosses
October2013(19)
b)Writingoffcapitallosses
c)Issuingfullypaidbonusshares September2013(2)

14.Acompany________itsowndebentures August2013(4)
a)Canrebuy
July2013(24)

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b)Cannotrebuy
March2013(12)
c)Canpartlybuy
15.Undersections61oftheCompaniesAct,2013,companyshallgivennoticeofthealterationofitssharecapitaltothefinancialhealthofbusiness.
February2013(20)

a)15 January2013(35)
b)2
December2012(8)
c)30
16.Nocallontheshareshallexceed October2012(129)

a)1/4thofthenominalvalue September2012(20)
b)1/5thofthenominalvalue
August2012(36)
c)Noneoftheabove
17.Debentureswhicharetransferablebymeredeliveryare
July2012(59)

a)RegisteredDebentures May2012(2)
b)NakedDebentures
April2012(7)
c)Noneoftheabove
18.InvestmentinSubsidiaryCompanyshouldbeaccountedforinaccordancewith March2012(82)

a)As13 February2012(20)
b)As21
January2012(48)
c)Noneofthese
19.Goodwillarisingonamalgamationistobeamortised: December2011(13)
a)Within5years
November2011(6)
b)Within5yearsunlessalongerperiodisjustified
October2011(49)
c)Noneofthese
20.Thecreditbalanceofprofit&Lossappropriationaccountincaseofcompanyistobetransferredto December2010(1)
a)CapitalAccount
b)CurrentAccount
c)Noneofthese
21.Calledupcapitalincludes
a)Discountofissueofshares
b)Securitiespremium
c)Noneofthese
22.Redeemablepreferencesharesareredeemable
a)Within20years
b)Within7years
c)Noneofabove
23.DividenddeclaredinGeneralMeeting
a)Canexceedtheamountrecommendedbytheboard
POPULARPOSTS
b)Cannotexceedtheamountrecommendedbytheboard
c)Noneoftheabove DifferencebetweenEquitySharesand
PreferenceShares
24.DividenddeclaredinGeneralMeeting
a)Canbelessthantheamountrecommendedbytheboard IGNOUSOLVEDASSIGNMENT:BSHF101
(201415)DEMO
b)Cannotbelessthantheamountrecommendedbytheboard
c)Noneoftheabove BusinessEconomics:Meaning,Nature,Scope
andObjectives
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25.SinkingFundsisshownintheBalanceSheetundertheheading
IGNOUSOLVEDASSIGNMENT:ECO02(2014
a)Reserveandsurplus
15)DEMO
b)SecuritiesLoan
DibrugarhUniversity(3rdSemester)Business
c)Noneoftheabove
StatisticsImportantQuestionsandAnswersfor
26.AsperIncometaxAct,PreliminaryExpensesmaybewrittenoff Nov'2016Exam
a)Over5years
Meaning,NatureandScopeofPublicFinance
b)Over10years
c)Noneoftheabove DibrugarhUniversity(4thSemester)Cost
AccountingImportantQuestionsandAnswers
27.Theprovisionforminimumsubscriptionof90%willnotapplywhensharesare
a)Offeredtopublic DibrugarhUniversity(1stSemesterNewAND
OldSyllabus)BusinessCommunicationI
b)Soldthroughprivateplacement ImportantQuestionsandAnswersforupcoming
c)Issueasrightshare Exam
28.Pricingofpublicissueisdetermineby DibrugarhUniversity(4thSemesterBothNew
a)TheSEBI CourseandOldCourse)CompanyLaw
ImportantQuestionsandAnswers
b)ThecompanyconsultationwithstockexchangeandSEBI
c)Thecompanyconsultationwithlegalmanager DibrugarhUniversity(5thSemester)Public
FinanceImportantQuestionsforNov'2015Exam
29.Proceedsinconnectionwithissueofsharesatdiscountwouldmean
a)Onlythenetamountreceived
b)Facevalueofshareissued
TotalPageviews
c)Noneoftheabove
30.Proceedsinconnectionwithissueofsharesatapremiumwouldmean
3,080,276
a)Onlythenetamountreceived
b)Facevalueofshareissued
c)Noneoftheabove UsersOnline
31.Atrustshallbeexecutedbytheissuercompanyinfavourofthedebenturetrusteeswithin
12OnlineUsers
a)Sixmonthoftheclosureoftheissue
b)Twelvemonthoftheclosureoftheissue
c)Sixmonthfromthedateofissue
32.Underpollingofinterestmethod,allcostassociatedwithamalgamationare:
a)Capitalised
b)Expensesasincurred
c)Noneoftheabove
33.Thecompanymustpass
a)Amembersresolutiontoreducethesharecapital
b)Anordinaryresolutiontoreducethesharecapital
c)Aspecialresolutiontoreducethesharecapital
34.CorporateDividendTaxwillbeshownintheP/Laccountas
a)Achargeagainstprofit
b)Anappropriationofprofit
c)Noneoftheabove
35.Premiumonredemptionofdebentureaccountis:
a)ArealAccount

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b)AnominalAccount
c)ApersonalAccount
36.WhenShareareissuedtopromotersfortheservicesofferedbythem,itisdebitedto
a)PreliminaryExp.Account
b)Goodwillaccount
c)ShareCapitalAccount
37.TheexcesspricereceivedovertheParValueofSharesshouldbecreditedto
a)CallinAdvanceAccount
b)ReserveCapitalaccount
c)SecuritiespremiumAccount
38.Afixedchargegenerallycoversallthe
a)Fixedassetsofthecompanyincludingfutureone
b)Currentassetsofthecompanyincludingfutureone
c)Specificassetsofthecompany
39.Afloatingchargegenerallycoversallthe
a)Fixedassetsofthecompanyincludingfutureone
b)Currentassetsofthecompanyincludingfutureone
c)Allassetsofthecompanyincludingfutureone
40.ThedifferentbetweenPurchaseconsiderationandShareCapitalofthetransferorcompanyisadjustedagain:
a)RealisationAccount
b)ReserveAccount
c)Goodwillaccount
41.ThefinancialyearoftheCompanymaybelessormorethanaCalendaryearbutitshallnotexceed:
a)Twelvemonths
b)Eighteenmonths
c)Fifteenmonths
42.Asharerepresents
a)Aninterestinthecompany
b)Assetsofthecompany
c)Liabilitiesofthecompany
43.Minorityinterestiscalculatedatthedateof
a)ConsolidatedBalanceSheet
b)TakingcontrolofSubsidiaryCompany
c)Closureofaccountingyear
44.Interestoncallsinarrearshouldnotexceed
a)10%
b)6%
c)7%
d)9%
45.AcompanycanissuesharesatadiscountunderSection
a)77
b)78

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c)53
46.AcompanycanissuesharesatadiscountunderSection
a)77
b)52
c)79
47.Profitonreissueofforfeitedsharesistransferredto:
a)Revenuereserve
b)Generalreserve
c)CapitalReserve
48.AccountforamalgamationisassociatedwithAccountingstandard:
a)14
b)15
c)16
49.Preferenceshareholderare
a)Creditorsofacompany
b)ownerofthecompany
c)customersofthecompany
50.DebenturesandsharesareshowintheBalancesheetat
a)Facevalue
b)Discount
c)Premium
51.Accumulatedlossestothevendorcompanyshouldbetransferredtothe
a)ProfitandLossAccount
b)ProfitandLossAppropriationAccount
c)EquityshareholderAccount
52.ConsolidatedFinancialStatementsarepreparedasperAccountingStandard
a)19
b)21
c)23
53.UnderSection61oftheCompaniesAct,1956acompanyshallgivenoticeofthealterationofitssharecapitaltotheRegistrarwithin_____days
ofdoingso.
a)15
b)25
c)30
54.ShareForfeitedAccountisshownontheliabilitiessideoftheBalanceSheet.
a)byaddingtothepaidupcapital
b)undertheheadReserves&Surplus
c)UndertheheadCurrentLiabilitiesandProvisions
55.RateofinterestonCallsinadvancednotexceed
a)6%perpremium
b)5%perpremium
c)10%perpremium
d)Noneofabove

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56.FixeddepositsareshownasontheliabilitiessideoftheBalanceSheet
a)UndertheheadcurrentLiabilities
b)UndertheheadSecuredLoan
c)Undertheheadsprovisions
d)Undertheheadunsecuredloan,Noncurrentliabilities
57.Goodwillis
a)Intangibleassets
b)Fictitiousassets
c)Noneoftheabove
58.Whentwoormorecompaniesareliquidatedandanewcompanyisformed,itiscalled(AMALGAMATION)
a)Absorption
b)ExternalReconstruction
c)InternalReconstruction
d)Noneofabove

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