Corporate Accounting I
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Corporate Accounting I
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25 Questions

1. When debentures are redeemed out of profits, the profit equivalent to the debenture is transferred to ------------.
2. Preliminary expenses are an example of---------------------
3. The amount of surrendered shares is credited to --------------account
4. When shares are forfeited, the amount already received is----------------.
5. Premium received on issue of shares is shown on-----------.
6. Discount on issue of shares is shown on---------.
7. Only --------------shares can be redeemed.
8. Loss prior top incorporation is to be shown in the assets side of the balance sheet under the heading----------------.
9. Forfeited shares to become-------------.
10. Preference share holders receive--------------.
11. Premium received on issue of shares cannot be utilised ---------.
12. For ascertaining Pre incorporation profits, establishment expenses are apportioned in the ------------------
13. Maximum number of members in public limited company is ---------------.
14. Assets which have physical existence are called------------------.
15. The underwriting commission in case of preference shares/ debentures beyond Rs. 5 lakhs as per SEBI guidelines, should not exceed
16. In the balance sheet of a limited company, assets are arranged in the order of---------------.
17. Dividend is paid on ------------.
18. Profit on cancellation of own debentures are transferred to--------------.
19. When the shares are issued to purchase the fixed asset, -------------should be credited.
20. The company intends to issue one right share for every four shares. Market price of the share is Rs. Right issue price is Rs. 95. Value of right is ---------------."
21. Which section of the companies Act 1956 provides for the issue and redemption of preference shares?
22. Assets that are to be converted into cash within 12 months are known as-----------------------.
23. Interest on debenture is----------.
24. If the whole of the issue of shares or debentures is underwritten it is known as------------------.
25. Debentures can be issued ----------------.

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