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MCQs for Issue of Shares
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MCQs for Issue of Shares
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25 Questions

1. Maximum number of members in a private company is :
2. 600 shares of ₹10 each were forfeited for non-payment of ₹2 per share on first call and ₹5 per share on final call. Share Forfeiture Account will be credited with:
3. A Company issued 50,000 shares of ₹20 each at 5% premium. ₹10 were payable on application and balance on allotment. What will be the allotment amount?
4. If vendors are issued fully paid shares of ₹1,25,000 in consideration of net assets of ?1,50,000, the balance of ₹25,000 will be credited to :
5. Following amounts were payable on issue of shares by a Company : ₹3 on application, ₹3 on allotment. ₹2 on lirst call and ₹2 on final call. X holding 500 shares paid only application and allotment money whereas Y holding 400 shares did not pay final call. Amount of calls in arrear will be :
6. Amount of Calls in Advance is
7. Which of the following is not a capital profit?
8. A Company is created by :
9. A Company forfeited 300 shares of ₹10 each, ₹8 per share called up, on which A had paid application and allotment money of ₹6 per share. Share Forfeiture Account will be credited with :
10. A company purchased machinery for ₹1,80,000 and in consideration issued shares at 20% premium. What will be the face value of shares issued :
11. Share Application Account is in the nature of:
12. Unless otherwise stated, a preference share is always deemed to be :
13. A Company offered 50,000 shares of ?10 each at par payable as to ?3 on applications, ?5 on allotment and the balance on final call. Applications were received for 60,000 shares and the allotment was made pro-rata. The excess application money was to be adjusted on allotment and call. How much amount will be transferred from Share Application A/c to Share Allotment A/c?
14. Liability of a shareholder is limited to .............. of the shares allotted to him :
15. Persons who start a company are called .............
16. A Company purchased a Building for ₹12,00,000 out of which ₹2,00,000 were paid in cash. Balance amount was paid by issue of equity shares of ₹10 each at 25% premium. How many shares will be issued by the Company :
17. Public subscription of shares include :
18. Which shareholders are returned their capital after some specified time :
19. To whom dividend is given at a fixed rate in a company?
20. A preference share which does not carry the right of sharing in surplus profits is called ..........
21. Nominal Share Capital is
22. Who are the real owners of a company?
23. Shareholders receive from the company :
24. The following statements apply to equity/preference shareholders. Which one of them applies only to preference shareholders?
25. Which of the following is not shown under the heading ‘Share Capital’ in a Balance Sheet:

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