Top 550+ Solved Corporate Accounting MCQ Questions Answer
Q. The minimum amount of capital which must be subscribed by the public beforeallotment is called
a. allotment money
b. Minimum subscription
c. subscribed capital
d. None of these
Q. Stock is a consolidation of …..Shares.
a. partly paid shares
b. fully paid shares.
c. equity shares
d. Sweat shares
Q. That part of the capital which will be called up only in the event of winding up of thecompany is called ------- capital
a. issued
b. paid-up
c. reserve
d. uncalled
Q. Preference share holders are entitled to a fixed rate of -------
a. interest
b. dividend
c. coupon
d. capital
Q. Those preference shares which do not carry the right of share in excess profits are knownas ------- preference shares.
a. irredeemable
b. non-cumulative
c. non -convertible
d. non-participating
Q. ------ is deducted from the called- up capital in order to calculate paid-up capital.
a. calls in arrear
b. calls in advance
c. un called capital
d. reserve capital
Q. Forfeiture of shares results in compulsory termination of ------ due to non payment ofallotment/call money.
a. allotment
b. membership
c. subscription
d. issue
Q. On forfeiture of shares, which of the following account is credited with the amount ofmoney already received on such shares?
a. shares forfeited a/c
b. share capital a/c
c. unpaid calls a/c
d. share premium a/c
Q. The discount on re-issue of forfeited shares is debited to ---- a/c.
a. share capital
b. shares forfeited
c. bank
d. discount on issue of shares
Q. ------ implies issue and allotment of shares to a selected group of persons and not togeneral public.
a. initial public offer
b. right issue
c. private placement
d. pre-emptive right
Q. Right shares are issued to ------
a. directors
b. promoters
c. existing share holders
d. debenture holders
Q. Shares which carry preferential rights are called ------
a. equity shares
b. preference shares
c. sweaty equity
d. green shoe
Q. A company cannot issue redeemable preference shares for a period exceeding ……….
a. 6 years
b. 7years
c. 10 years
d. 20 years
Q. Preference shares can be redeemed….
a. If they are fully paid up
b. if they are partly paid up
c. if they are convertible.
d. None of these
Q. Premium on redemption of preference shares can be provided out of ….
a. securities premium account
b. capital reserve account
c. general reserve account
d. all of these