corporate accounting

Which of the following capital is not shown in company’s balance sheet?

• a) Authorised capital

• b) Issued and subscribed capital

• b) Issued and subscribed capital

• d) Reserve Capital

2.Share application and allotment account is a

• a) Personal account

• b) Real account

• c) Nominal account

• d) Real and nominal account

3.The amount of capital that a company can issue at par value is called

• a) Authorised capital

• b) Share premium

• c) Issued capital

• d) Fixed capital

   

4.The share of profit a shareholder will receive is called

• a) Dividend

• b) Surplus

• c) Net profit  

• d) Retained profit

    5. The excess price received over the par value of shares, should be credited to

• a) Calls-in-advance account

• b) Share capital account

• c) Reserve capital account

• d) Share premium account

6. A 10% debenture of nominal value of Rs.100 has been issued at Rs.90 is said to be issued at

• a) Discount

• b) Premium

• c) Par 

• d) Commission                  

7.When shares are issued to promoters for the services offered by them, the account that will be debited with the nominal value of shares is

• a) Preliminary expenses

• b) Goodwill

• c) Asset account               

• d) Share capital       

8.   The minimum share Application money is

• a) 5% of the face value of shares

• b) 10% of the issue price of shares

• c) Re. 1 per share

• d) 15% of the face value of shares

9.After getting minimum subscription of shares, the company has to allot shares with in

• a) 90 days

• b) 100 days

• c) 110 days   

• d) 120 days

10.. Bonus shares can be issued at

• a.premium

• b.discount

• c.Par

• All of them