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Class 12 Accountancy Chapter 5 Accounting For Companies Issue Of Debentures Quiz 3 (19 MCQs)

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1. 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
2. All secured debentures should be redeemed within 20 years from date of its issue
3. 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:
4. At the time issue of debentures, debentures account is
5. Discount or loss on issue of debentures is written off from
6. B Ltd. issued 10, 000 4% Debentures at Rs. 50 each. 12, 000 applications were received. This is a case of-
7. Debenture is a .....
8. Debenture certificate must be issued within ..... of allotment of Debenture
9. 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?
10. Debenture premium can be used to:
11. When debentures are issued as collateral security, which entry has to be passed?
12. Debenture trustees can not approach NCLT to redress grievances of debenture holders
13. Rohit Ltd., issued 2200, 9% debentures of Rs 100 each at Rs 95 per debenture. 9% debentures Account will be credited by:
14. F Ltd. purchased machinery for a book value of ₹ 4, 00, 000. The consideration was paid by issue of 10% Debentures of ₹ 100 each at a discount of 20%. The Debenture Account will be credited by:
15. Debentures holders are paid interest
16. Interest payable on debentures is calculated on issue price of debentures.
17. Beta Ltd. issued 5000, 9% Debentures of Rs. 500 each. When debentures are issued at a premium of 25% to the vendors for machinery purchased for Rs. 625, 000, how many debentures are to be issued by the company?
18. While issuing ..... , company doesn't give any undertaking for repayment of money borrowed by issuing such debentures.
19. Money from ..... account is used for redemption of debenture
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