Corporate Accounting Quiz

Share allotment account is

• Personal

• Real

• Nominal

• Intangible

Public limited companies cannot issue

• Sweat equity shares

• Deferred shares

• Preference shares

• Equity shares

Maximum discount allowed on equity shares

• 10%

• 8%

• 5%

• 6%

Redeemable preference shares are redeemable within

• 20 yrs

• 7 yrs

• 5 yrs

• None of the above

Interest on calls in arrears should not exceed

(a)  

Goodwill is

• Tangible Asset

• Intangible Asset

• Fictitious asset

• None of the above

Debentures and shares are shown in balance sheet at

• Face value

• Discount

• Premium

• None of the above

Preference shareholders are

• Creditors of a company

• Owner of the company

• Customers of the company

• None of the above

Profit on re-issue of forfeited shares is transferred to

• Revenue Reserve

• Capital Reserve

• General Reserve

• None of the above

Minimum no. of members in case of public companies is

• 4

• 6

• 5

• 7