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CS Executive Practice Test: Issue of Right & Bonus Shares – Corporate and Management Accounting
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Avg score: 69% • Most missed: “Following are the extracts from the draft Balance Sheet of OMG Ltd.:”
CS Executive Practice Test: Issue of Right & Bonus Shares – Corporate and Management Accounting
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16 Questions

1. Notice relating to an offering for right issue shall be dispatched through
2. Which of the following can be used for issuing bonus shares
3. Which of the following statement is false
4. Bonus issue must be authorized
5. Which of the following condition of Section 63 is required to be complied with by the company before making the bonus issue
6. Right shares can be offered by the companies to persons other than existing shareholders or employees by passing a:
7. For which one or more of the following reasons could a balance in the securities premium be applied?
(a) To issue bonus shares.
(b) For distribution to shareholders as dividend.
(c) To write down the value of assets, particularly when they are impaired.
(d) To write off expenses of and commission on issuing the same shares
Select the correct answer from the options given below
8. Which of the following is a correct journal entry for the issue of bonus shares
9. Bonus issue can be made on
10. If a company makes bonus issue at 2:3 then it means
11. Which of the following can be utilized for the issue of bonus shares?
1. Balance of profits & loss account
2. Capital Reserve
3. Dividend Equalization Fund
4. Development Rebate Reserve
5. Profit Prior to Incorporation
Select the correct answer from the options given below
12. Following are the extracts from the draft Balance Sheet of OMG Ltd.:
Equity shares Capital (₹10 8,00,000 each)
Securities premium 1,00,000
General reserve 2,50,000
Profit & loss account 1,50,000
A resolution was passed declaring 3 bonus shares for 5 shares held. Use minimum securities premium balance. To issue bonus shares Securities Premium A/c will be debited by
13. The notice relating to offer for the right issue shall be dispatched through registered post or speed post or through electronic mode to all the existing shareholders at least before the opening of the issue
14. A company cannot issue fully paid-up bonus shares to its members out of:
15. Which of the following statement is true if the company issues bonus shares
16. Value of the right =

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