Company Accounts Quiz

Company Accounts Quiz

12th Grade

20 Qs

quiz-placeholder

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Company Accounts Quiz

Company Accounts Quiz

Assessment

Quiz

Other

12th Grade

Hard

Created by

Vinaya Venkat

Used 63+ times

FREE Resource

20 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Share Allotment a/c is a/an:

Expense a/c

Asset a/c

Liability a/c

Income a/c

2.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Balance in Shares Forfeited a/c is shown in the Balance Sheet under the head of:

Reserves and Surplus

Long Term Borrowings

Share Capital

Other Current Liabilities

3.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

Shares can be forfeited for:

Non - payment of call money

Failure to attend meetings

Failure to repay the loan to the bank

All of these

4.

FILL IN THE BLANK QUESTION

1 min • 1 pt

Profit on Reissue of Forfeited Shares is tranferred to -

5.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Gama Chemicals Ltd. is a newly formed company. How much discount per share can it allow for issuing the shares to the public?

6%

10%

5%

None of these

6.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

At what rate of interest on Calls in Advance may be paid by a company according to Table F of Schedule I of the Companies Act, 2013?

10%

12%

10% p.a.

12% p.a.

7.

FILL IN THE BLANK QUESTION

1 min • 1 pt

D Ltd. invited applications for issuing 10,00,000 equity shares of Rs. 10 each. The public applied for 8,55,000 shares. Can the company proceed for the allotment of shares? Give reason in support of your answer.

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