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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. When a company issues shares at a premium, the amount of premium should be received by the company :
2. Equity shares cannot be issued for the purpose of:
3. Balance of share forfeiture account is shown in the balance sheet under the head ..........
4. Which of the following will define, when appropriation of a certain number of shares is made to an applicant in response to his application?
5. Issue of shares at a price higher than its face value is called :
6. A company issued 5.000 equity shares of ₹100 each at par payable as to . ₹40 on application; ?50 on allotment and ₹10 on call. Applications were received for 8,000 shares. Allotment was made on pro-rata. How much amount will be received in cash on allotment?
7. A company has ..........
8. 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 :
9. Which of the following statements is true?
10. Share Application Account is in the nature of:
11. Maximum limit of Premium on shares is:
12. The shares on which there is no any pre-fixed rate of dividend is decided, but the rate of dividend is fluctuating every year according to the availability of profits, such share are called :
13. A Company may issue .............
14. 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:
15. Preference shares, in case the holders of these have a right to convert their preference shares into equity shares at their option according to the terms of issue, such shares are called :
16. A Ltd. forfeited 500 shares of ₹10 each fully called up for non-payment of final call of ₹3 per share 300 of these shares were reissued at ?9 per share, fully paid up. What is the amount to be transferred to Capital Reserve Account?
17. A preference share which does not carry the right of sharing in surplus profits is called ..........
18. Persons who start a company are called .............
19. 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?
20. For whal purpose securities premium reserve account cannot be utilized? (CPT; Dec. 2010)
21. Capital included in the Total of Balance Sheet of a Company is called :
22. A Company may issue the shares :
23. If 400 shares of ₹10 issued at a premium of ₹3 on which the full amount has been called and ₹8 (including premium) have been received are forfeited, the forfeiture account should be credited with :
24. Reserve Capital is also known by :
25. To whom dividend is given at a fixed rate in a company?

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