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Class 12 Accountancy Chapter 5 Accounting For Companies Issue Of Debentures Quiz 1 (60 MCQs)

Quiz Instructions

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1. A company cannot issue ..... with Voting rights
2. Discount on issue of debentures can be written off during the life time of debentures
3. The contract between company and debenture trustees of companies is called as .....
4. A company which issue prospectus or invites more than 500 person to buy it's debenture has to appoint ..... /
5. Interest on debentures is paid on
6. Procedure for allotment of Debenture should be completed within ..... from the date of receipt of applications
7. Debentures can be issued at
8. A company can issue ..... convertible Debenture
9. A debenture holder gets
10. What will be the entry passed when 10, 000 debentures of Rs. 100 each are issued against a bank loan of Rs. 800, 000?
11. A debentureholder always gets
12. Excess of net assets over purchase consideration at the time of purchase is:
13. Deep Ltd. issue 10, 00, 000, 7 % debentures of 100 Rs. each at a discount of 4%, redeemable after 5 years at a premium of 6%. Loss issue of debentures is:
14. What is meant by a Debenture?
15. State the amount to be recorded in the books of accounts:Application money received on 2000 12% Debentures of Rs. 100 each issued at a premium of 10% and redeemable at a premium of 10%
16. When debentures are issued at a discount, the discount is written off
17. Match the following1. Shares 2. Debentures a. fixed charge on assets b. fluctuating charge on assets c. no charge on assets d. a & b e. c & a f. a & c
18. Company has to create a charge on its assets when it issues secured debentures
19. Match:1. Redeemable Debentures2. Registered Debenturesa. can be converted into sharesb. payable on expiry of a specific timec. carry no specific charged. complete detail is maintained by the company
20. Debenture holders are
21. T Ltd. issued 4000 10% Debentures at Rs. 100 each. Calculate the total interest.
22. ABC limited issues 10, 000 9% debentures of 100 each at a premium of 5%, repayable at a premium of 10%, the loss on issue of debentures account will be debited to by-
23. X ltd. purchased building of Y ltd. for Rs. 4, 00, 000. The consideration was paid by issue of 10% debentures of Rs. 100 each at a discount of Rs. 20. 10% debentures account is credited with
24. Debentures are shown in the balance sheet of a company under the head of
25. Secured debentures must be redeemed within ..... from the date of issue
26. When debentures are issued at Par and redeemable at Premium, the loss on such an issue is debited to:
27. Discount on issue of Debentures should be written off:
28. Debentures are a part of
29. Debentures issued as collateral security
30. Debenture certificate is issued within 6 months of allotment of debentures
31. Discount on issue of Debentures is in the nature of:
32. A company issuing ..... Debenture must create a charge on the assets of the company
33. A company issued ₹ 1, 00, 000 12% debentures of ₹ 100 each. The amount of interest on debentures will be:
34. Debenture interest is paid
35. When debentures are issued as collateral securities, the final entry for recording the collateral debentures in the books is
36. When the number of debentures applied is less than number of debentures offered to public the issue is said to be:
37. If debentures of ₹ 4, 50, 000 are issued for the consideration of net assets of ₹ 5, 00, 000 balance ₹ 50, 000 will be credited to:
38. Special resolution is needed to issue convertible debentures
39. Collateral security is a:
40. Electronics ltd. issued 10, 000, 6% debentures of Rs. 100 each at a premium of Rs. 10. It will credit 6% debentures account by
41. Amaze Ltd issued 20, 000, 12% debentures of ₹ 100 each at 10% premium to be redeemed at 15% premium at the end of 4 years. There was a debit balance in statement of profit & Loss of ₹ 40, 000. At the end of the year, after writing off the loss on issue of debentures, what will be the balance in statement of profit & loss?
42. ..... protects the interest of Debenture holders
43. The details of allotment of Debenture must be entered in .....
44. Company cannot issue non-convertible debentures
45. Which of the following is correct with respect to debentures
46. Disha Ltd. purchased machinery from Nisha Ltd. Pass the journal entry for purchase of the machinery.
47. Debenture trustees are appointed to protect the interest of shareholders
48. Debenture holders have no voting rights
49. Maira Ltd. took over assets of 20, 00, 000 and liabilities of ₹ 4, 00, 000 of Subav Ltd. for an agreed purchase consideration of 18, 00, 000. The amount was payable by issue of 11% Debentures of 100 each at 10% discount. The number of debentures issued will be
50. All secured debentures should be redeemed within 20 years from date of its issue
51. Susan Ltd purchased assets worth ₹ 5, 60, 000. Instead of paying cash it issued debentures of ₹ 100 each for ₹ 70, ₹ 80 paid up. The number of debentures issued and the amount of discount is:
52. At the time issue of debentures, debentures account is
53. Discount or loss on issue of debentures is written off from
54. B Ltd. issued 10, 000 4% Debentures at Rs. 50 each. 12, 000 applications were received. This is a case of-
55. Debenture is a .....
56. Debenture certificate must be issued within ..... of allotment of Debenture
57. Manish Ltd. issued 50, 000, 8% Debentures of ₹ 100 each at certain rate of premium and to be redeemed at 10% premium. At the time of writing off Loss on Issue of Debentures, Statement of Profit & Loss was debited with ₹ 2, 00, 000. At what rate of premium, these debentures were issued?
58. Debenture premium can be used to:
59. When debentures are issued as collateral security, which entry has to be passed?
60. Debenture trustees can not approach NCLT to redress grievances of debenture holders
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