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Corporate Accounting I
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Avg score: 19% • Most missed: “Discount and loss on issue of debentures are shown under ---------------.”
Corporate Accounting I
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25 Questions

1. The capital reduction scheme can be implemented only after getting permission from-------------.
2. The various losses can be written with the help of capital reduction account at the time of-------------- reconstruction.
3. Discount on issue of forfeited shares should not exceed----------------.
4. Final accounts of a company include-----------------------.
5. Debentures are shown in the balance sheet under the heading
6. Trade payables include----------------------.
7. -----------section of the companies Act provides the power of issuing debentures.
8. In the liabilities side of the company's balance sheet, calls in arrears are shown------------.
9. In case of consolidation of share capital the total number of shares of the company-------------.
10. Discount on issue of debentures is shown under the heading in a company's Balance Sheet----------------
11. In the balance sheet of a limited company, assets are arranged in the order of---------------.
12. When shares are forfeited, the share capital account is debited by--------------.
13. Interest on debentures is calculated on-------------.
14. If the whole of the issue of shares or debentures is underwritten it is known as------------------.
15. In the asset side of the company's balance sheet, fictitious asset like Discount on issue of shares are shown under the heading
16. Redeemable preference shares can be redeemed out of ------------------.
17. Which section of the companies Act 1956 provides for the issue and redemption of preference shares?
18. Dividend is paid on ------------.
19. Profit on cancellation of own debentures are transferred to--------------.
20. Gross profit is to be apportioned between pre and post incorporation periods in-----------------.
21. If the minimum subscription is not received by the company, then the refund of application money should be made within ----------days.
22. Interest paid to vendor should be divided between pre and post incorporation periods in--------------------------
23. Audit fees should be divided between pre and post incorporation periods in---------.
24. Discount received from creditors and carriage inwards should be divided between pre and post incorporation periods in----------------.
25. The amount of surrendered shares is credited to --------------account

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