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Class 12 Accountancy Chapter 4 Accounting For Companies Issue Of Shares Quiz 2 (25 MCQs)

Quiz Instructions

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1. When a company receives applications for less number of shares than what is issued, the situation is called as .....
2. A Company may issue .....
3. The portion of subscribed capital which is called for payment by the company is called .....
4. What is the Full Form of SEBI?
5. When a company receives share application money, the entry will be-
6. Liability of a shareholder is limited to ..... of the shares allotted to him:
7. The portion of called-up capital for which the shareholders made payment is called .....
8. Preference shares, in case the holders of these have a right to convert their preference shares into equity shares at their option according to the terms of issue, such shares are called:
9. Based on the consideration obtained on the share issue, the issue is classified as .....
10. A company has .....
11. ..... account is credited when application money is transferred
12. The capital of a company is divided into units which are called:
13. Year of the latest Companies Act
14. Tara Ltd. issued 120, 000 shares. The issued was subscribed for 110, 000 shares. This is a case of .....
15. Reserve Capital is also known by:
16. When Shares are issued at a premium, the same will be credited to ..... a/c.
17. The shares on which there is no any pre-fixed rate of dividend is decided, but the rate of dividend is fluctuating every year according to the availability of profits, such share are called:
18. When a company issues shares to the public for the first time, the issue is called as .....
19. Maximum amount Share Capital that a company can raise will be stated in the ..... of Memorandum of Association
20. A company issued 6, 000 shares of Rs. 10 each money to be called up:-On application Rs. 3 on allotment Rs. 3 on first call Rs. 2 and remaining on second call. On allotment one shareholders having 100 shares paid full amountThe amount collected on allotment .....
21. The shares on which there is no pre-fixed rate of dividend is decided, but the rate of dividend is fluctuating every year according to the availability of profits, such shares are called:
22. Where will Incorporation Expenses be shown in the Financial Statements of a Company?
23. X ltd. Forfeited 1, 000 shares of Rs. 10 each for the non-payment of final call of Rs. 2. The account will be debited for called up price of a share at the time of forfeiture of shares:
24. When Share Application Money is received, ..... account is credited
25. When the issue price is higher than the face value, the issue is termed as .....
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