5 - Accountancy Share Capital
Authored by Chaman Singh
Business
12th Grade
Used 1+ times
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1.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
Q.1. Which one of the following items is not a part of subscribed capital?
(A) Equity Shares
(B) Preference Shares
(C) Forfeited Shares
(D) Bonus Shares
2.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
Q.2. At the time of forfeiture of shares the share capital account is debited with
(A) Face value
(B) Called up value
(C) Paid up value
(D) Issued value
3.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
Q.3. Voluntary return of shares for cancellation by the shareholders is called
(A) Cancellation of shares
(B) Forfeiture
(C) Surrender of shares
(D) None of these
4.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
Q.4. If the Premium on the forfeited shares has already been received, then Securities Premium A/c should be:
(A) Credited
(B) Debited
(C) No treatment
(D) None of these
5.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
Q.5. Balance of share forfeiture account is shown in the balance sheet under the head..
(A) Share Capital Account
(B) Reserve and Surplus
(C) Current Liabilities and Provisions
(D) Unsecured Loans
6.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
Q.6. On an equity share of ₹10 the company has called up ₹8 but ₹6 have been received by the company is forfeited, the capital account should be debited by:
(A) ₹10
(B) ₹8
(C) ₹6
(D) ₹2
7.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
Q.7. If a share of ₹10 issued at a premium of ₹3 on which the full amount has been called and ₹8 (including premium) paid is forfeited the capital account should be debited with:
(A) ₹5
(B) ₹8
(C) ₹10
(D) ₹13
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