Description : XYZ Ltd. issued 10,000 shares of Rs. 100 each at Rs. 120 per share with Rs. 25 on application, Rs. 45 on allotment including premium, Rs. 20 on first call and Rs. 30 on final call. Govind who held 200 shares did not pay ... forfeiture ? (A) Rs. 14,000 (B) Rs. 10,000 (C) Rs. 9,000 (D) Rs. 4,000
Last Answer : Answer: Rs. 10,000
Description : When shares issued at premium which of the following account is credited? A. Share premium account B. Share first call account C. Share allotment account D. Share forfeited account
Last Answer : A. Share premium account
Description : The profit on the reissue of forfeited share are transferred to A. Capital A/ c B. Capital Reserve C. Profit & Loss A/c D. General Issues
Last Answer : B. Capital Reserve
Description : Share Allotment Account is _______________ A. Real A/c B. Personal A/c C. Nominal A/c D. Fictitious A/c
Last Answer : B. Personal A/c
Description : Share allotment account is a ------------------. A. personal account B. Real account C. Nominal account D. Impersonal accoun
Last Answer : A. personal account
Description : Historical cost concept requires the valuation of an asset at A] Original cost B] Replacement value C] Net realizable value D] Market value
Last Answer : A] Original cost
Description : Valuation of stock in accounting follows the principle of cost price or ____ which ever is lower. a) Market Price b) Average Price c) Net realizable Value d) None of these.
Last Answer : c) Net realizable Value
Description : Which accounting concept satisfy the valuation criteria a] Going concern, Realisation, Cost b) Going concern, Cost, Dual aspect c) Cost, Dual aspect, Conservatism d) Realisation, Conservatism, Going concern.
Last Answer : a] Going concern, Realisation, Cost
Description : Which of the following is not included in the assumption on which Myron Gorden proposed a model on Stock valuation A. Retained earning the only source of financing B. Finite Life of the firm C. Taxes do not exist D. Constant rate of return on firms investment.
Last Answer : B. Finite Life of the firm
Description : Which of following is not the method of valuation of Goodwill? A. Average profit Method B. Super profit Method C. Capitalization Method D. Straight line Method
Last Answer : D. Straight line Method
Description : What do you mean by Forfeiture of shares?
Last Answer : What do you mean by Forfeiture of shares?
Description : To issue shares on Discount mean A. Issue on face value of shares B. Issue on more than face value of shares C. Issue on less than face value of shares D. Initial public offer
Last Answer : C. Issue on less than face value of shares
Description : To issue shares on Par mean A. Issue on face value of shares B. Issue on more than face value of shares C. Issue on less than face value of shares D. Initial public offer
Last Answer : A. Issue on face value of shares
Description : To issue shares on premium mean A. Issue on face value of shares B. Issue on more than face value of shares C. Issue on less than face value of shares D. Initial public offer
Last Answer : B. Issue on more than face value of shares
Description : A company forfeited 30 equity shares of Rs. 10 each fully called-up, for non-payment of allotment money of Rs. 3 and call-money of Rs. 4 per share. If these shares are reissued at Rs. 8 per share fully paid, the amount ... to capital reserve will be- (A) Rs. 300 (B) Rs. 60 (C) Rs. 90 (D) Rs. 30
Last Answer : Answer: Rs. 30
Description : X Limited forfeited Ram's 20 shares of Rs. 10 each on which Rs. 7 is called up. Ram had paid application and allotment money of Rs. 5 per share. Of these forfeited shares 15 shares were reissued to Hari as fully paid up ... to Capital Reserve account ? (A) Rs. 15 (B) Rs. 20 (C) Rs. 75 (D) Rs. 100
Last Answer : Answer: Rs. 15
Description : Which of the following has the highest cost of capital? A. Loans B. Equity shares C. Bonds D. Preference shares
Last Answer : B. Equity shares
Description : For amalgamation in the nature of merger, the shareholders holding at least ______ or more of the equity shares of the transferor company becomes the equity shareholders of the transferee company. A. 51% B. 90% C. 99% D. 100%
Last Answer : B. 90%
Description : Amalgamation is said to be in the nature of merger if: A. All assets and liabilities of transferor company are taken over by the transferee company. B. Business of transferor company is intended to ... paid in equity shares by the transferee company except for fraction shares. D. All of the above
Last Answer : D. All of the above
Description : Bonus shares can be issued by a company A. Out of the Reserves created by revaluation of fixed assets B. Out of share premium not collected in cash C. Without any provision for it in the Articles of Association of the company D. Out of free reserves built out of genuine profit
Last Answer : D. Out of free reserves built out of genuine profit
Description : Which of the following statements is not correct? A. For the purpose of Funds Flow Statement, the term 'fund ' generally refers to net working capital B. Funds flow is a wider concept than ... business D. The capitalisation of reserves by the issue of bonus shares also involves flow of funds
Last Answer : D. The capitalisation of reserves by the issue of bonus shares also involves flow of funds
Description : The return on investment (ROI) may be calculated as A. Net profit before interest, tax and dividend / Capital employed B. Net profit after interest, tax and dividend / Shareholder's fund C. ( Net profit - preference dividend )/ No. of equity shares D. Return on Investment / Net profit ratio
Last Answer : A. Net profit before interest, tax and dividend / Capital employed
Description : The dividend on equity shares is only paid when dividend on ------- has already been paid. A. Debenture B. Preference Shares C. Bond D. Equity Shares
Last Answer : B. Preference Shares
Description : Following is the Source of fund A. Decrease in balance of Debenture B. Decrease in Long term Liability C. Increase in Long term loan D. Redemption of Shares
Last Answer : C. Increase in Long term loan
Description : Working capital will increase A. If Current Asset Decrease B. If Current Liability Decrease C. If Current LiabilityIncrease D. If new shares are issued
Last Answer : B. If Current Liability Decrease
Description : The shares received from the new company is recorded at (A) Face value (B) Market value (C) Average price (D) None of these
Last Answer : (B) Market value
Description : If the intrinsic values of shares exchanged are not equal, the difference is paid in ........... (A)Cash (B)Debenture (C)Pref. share (D)Assets
Last Answer : (A)Cash
Description : Which of the following statement is correct? (A)The amount of Goodwill or Capital Reserve is found out in the books of purchasing company only (B)The amount of Goodwill or ... face value of shares of purchasing company will be taken in to account while calculating purchase consideration.
Last Answer : (A)The amount of Goodwill or Capital Reserve is found out in the books of purchasing company only
Description : Shares received from the new company are recorded at - (A)Face value (B)Average price (C)Market value (D)None of the above
Last Answer : (C)Market value
Description : fter getting minimum subscription of shares, the company has to allot shares with in--------- ------days. A. 90 B. 100 C. 110 D. 120
Last Answer : D. 120
Description : Premium received on issue of shares cannot be utilised for ---------. A. for the issue of bonus shares B. for writing of preliminary expenses C. for providing premium payable on redemption D. for distribution of dividend
Last Answer : D. for distribution of dividend
Description : Premium on issue of shares can be used for -----------. A. distribution of dividend B. writing of f capital losses C. transferring to general reserve D. paying fees to directors
Last Answer : B. writing of
Description : Premium received on issue of shares is shown on-----------. A. asset side of the balance sheet B. liability side of the balance sheet C. credit side of the P&L a/c. D. debit side of the P & L a/c
Last Answer : B. liability side of the balance sheet
Description : The minimum share Application money is -----------. A. 5% of the face value of shares B. 10% of the issue price of shares C. Re. 1 per share D. 15% of the face value of shares
Last Answer : A. 5% of the face value of shares
Description : Holders of preference shares will have a right to vote if the dividend remains in arrears for a period not lessthan A. 2 year B. 3 years C. 6 years D. none of these
Last Answer : 2
Description : Alfa Company Limited acquired the business of M/s Bharat Traders. The valuation of the items acquired was-building Rs. 1,20,000; machinery Rs. 80,000 and stock-in-trade Rs. 30,000. The company issued in lieu of the above items 800, ... ) Rs. 2,30,000 (B) Rs. 1,00,000 (C) Rs. 50,000 (D) Rs. 30,000
Last Answer : Answer: Rs. 30,000
Description : XYZ company has 50 lakh shares outstanding and plans to raise Rs.20 lakh by offering 10 lakh shares at Rs.2 per share. What is XYZ's post-money valuation? a) Rs.1.20 crore b) Rs.1 crore c) Rs.50 lakh d) Rs.2 crore
Last Answer : a) Rs.1.20 crore
Description : How to handle a flight cancelation?
Last Answer : Since the dawn of aviation, safe pilots have cancelled their trips due to inclement weather, mechanical issues, and many other factors. While aviators may be comfortable in taking the most safe route, ... you can do your best to reach your destination in the event that your flight is cancelled.
Description : i found my nys refund check from 2003 now what reissue?
Last Answer : i found my nys refund check from 2003 now what reissue?
Description : How to Acquire A Social Security Card Reissue?
Last Answer : In most cases, acquiring a Social Security card reissue is a simple matter. Anyone who is a citizen of the United States can even receive their new card within a day. There are various ways to ... Other than that, an individual does not need to worry too much about this matter in most situations.
Description : Reissue Social Security Card?
Last Answer : A social security card is one of the most important documents a person has. Individuals need these important documents for most life activities including working, applying for credit and ... employers and government organizations. The applicant will receive an official card within two weeks.
Description : In auditing the financial statements of Star Corp., Land discovered information leading Land to believe that Star's prior year's financial statements, which were audited by Tell, require substantial ... management d. Request Star to arrange a meeting among the three parties to resolve the matter
Last Answer : Request Star to arrange a meeting among the three parties to resolve the matter
Description : How do you feel about asset forfeiture laws?
Last Answer : I think it's urgent that the ACLU grab one of these cases, and begins marching toward the Supreme Court, because the mass preponderance of those who have their possessions confiscated lack the means to ... or even tried must not be allowed. Otherwise, only those of us who own nothing are immune.
Description : Is one five enough for ordination?
Last Answer : Yes, that's enough.
Description : When martial law is imposed, Parliament cannot make law ill respect of which one of following matters? (1) indemnify any person in respect of any act done by him in connection with the maintenance of order ... force in the area (4) Any act done under martial law can be validated by Parliament by law
Last Answer : (4) Any act done under martial law can be validated by Parliament by law Explanation: Any act done under martial law cannot be validated by parliament by law.
Description : Which of the following punishment cannot be awarded under IPC? a) Forfeiture of property b) Rigorous imprisonment c) Transportation for life d) Death
Last Answer : c) Transportation for life
Description : Transportation for life, be construed as a reference to a) Death b) Forfeiture of property c) Imprisonment for life d) None of these
Last Answer : c) Imprisonment for life
Description : The punishments to which offenders are liable under the provisions of this code are a) Death and Imprisonment for life b) Imprisonment rigorous and simple c) Forfeiture of property and fine d) All the above
Last Answer : d) All the above
Description : Premature encashment of NSC (VIII) will be made a) In case of death of the holder or any of the holder in case of joint account b) On forfeiture by pledgee being Gazetted Government Officer. c) When ordered by a court of law d) Both A, B and C
Last Answer : d) Both A, B and C
Description : The IPO presented after the expiry period of currency, but before the time for forfeiture a) Cannot be paid b) Can be paid on authority from the audit c) Can be paid on payment of second commission by means of postage stamps d) None of these
Last Answer : c) Can be paid on payment of second commission by means of postage stamps