
Internal Reconstruction 2
Quiz
•
Specialty
•
University
•
Practice Problem
•
Hard
CA Dr. Reena Desai
Used 27+ times
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10 questions
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1.
MULTIPLE CHOICE QUESTION
45 sec • 1 pt
Which of the following statement is true
Asset side of the balance sheet of a sick company shows the asset at lower value than the real values
Preference dividend on cumulative pref. shares of a sick company may be in arrears for several years
In internal reconstruction the company is liquidated
External reconstruction involves reduction of capital
2.
MULTIPLE CHOICE QUESTION
45 sec • 1 pt
Which of the following statement is false
In consolidation of shares, the number of shares change but the amount of capital remains same
Sub division of shares is the reverse of consolidation of shares
Conversion of stock into shares is similar to consolidation
There is no liquidation in case of Internal Reconstruction
3.
MULTIPLE CHOICE QUESTION
45 sec • 1 pt
Past losses and fictitious assets are wiped off through ____
Various tangible Assets Account
Reserves and Surplus Account
Capital Reduction Account
Long term Liabilities Account
4.
MULTIPLE SELECT QUESTION
45 sec • Ungraded
The sick company should be revived through
Internal Reconstruction
External Reconstruction
Amalgamation
Absorption
all the above
5.
MULTIPLE CHOICE QUESTION
45 sec • 1 pt
The credit balance in capital Reduction A/c is utilised for wr
Paying of dissentient share holders
writing off deferred expenses
issuing fully paid bonus shares
None of the above
6.
MULTIPLE CHOICE QUESTION
45 sec • 1 pt
Reconstruction refers to an arrangement whereby
Two companies come together to form a new one
Changing the proportion of own funds and borrowed funds
Shares are bought back to reduce capital
None of the above
7.
FILL IN THE BLANK QUESTION
1 min • 1 pt
Surrendered shares can be reissued True/ False
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