Company Accounts Issue Of Shares CBSE Questions & Answers

Company Accounts Issue Of Shares

This is Accountancy Class 12 Company Accounts Issue of Shares CBSE Questions & Answers. There are 15 questions in this test with each question having around four answer choices.

Questions & Answers

1
Excess money received on application should be utilized first on:
  • A
    Allotment and Calls both
  • B
    Premium
  • C
    Calls only
  • D
    Allotment
    Correct
2
Property of the company belongs to
  • A
    Promoters
  • B
    Share holders
  • C
    Company
    Correct
  • D
    Members
3
Which company shares can be freely transferable
  • A
    Private Company
    Correct
  • B
    None of the above
  • C
    Both (a) & (b)
  • D
    Public Company
4
Minimum number of members in case of public company
  • A
    b) 2
  • B
    c) 5
  • C
    d) 1
  • D
    a) 7
    Correct
5
Maximum no. of members in case of private company is
  • A
    200
  • B
    50
    Correct
  • C
    100
  • D
    150
6
Minimum paid up share capital in case of a public company is ________
  • A
    7 Lakhs
  • B
    5 Lakhs
    Correct
  • C
    1 Lakhs
  • D
    3 Lakhs
7
Minimum no. of Directors in case of private company is _______
  • A
    3
  • B
    2
    Correct
  • C
    1
  • D
    4
8
License fee and Prospectus expenses paid before starting business are known as ____
  • A
    Advertisement Expenses
  • B
    None of these
  • C
    Preliminary Expenses
    Correct
  • D
    Underwriter's Commission
9
______ is the conclusive evidence in case of company that statutory requirements have complied with
  • A
    Certificate of commencement of Business
  • B
    Certificate of Incorporation
    Correct
  • C
    None of the above
  • D
    Both
10
The capital which is part of the uncalled capital of the company which can be called up only in the event of its winding up it is called
  • A
    Reserve capital
    Correct
  • B
    Authorized Capital
  • C
    Nominal capital
  • D
    Issued capital
11
Part of the issued capital taken by public is called ___________
  • A
    Un called capital
  • B
    Paid up capital
  • C
    Subscribed capital
    Correct
  • D
    Called – up capital
12
Part of authorized capital which is offered by the company for subscription.
  • A
    Un called
  • B
    called up
  • C
    subscribed
  • D
    Issued
    Correct
13
Authorized share capital is also known as:
  • A
    Issued capital
  • B
    Called up capital
  • C
    Paid up capital
  • D
    Nominal Capital
    Correct
14
Which of the following represents the excess of issued price over the nominal value of shares?
  • A
    Share Capital
  • B
    Profit of the company
  • C
    Premium on issue of share
    Correct
  • D
    Discount on issue of share
15
Match the following, options are
Question 15 figure 1
  • A
    a(iii),b(i),c(ii)
  • B
    a(i),b(ii),c(iii)
  • C
    a(iii),b(ii),c(i)
    Correct
  • D
    a(ii),b(iii),c(i)