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Subject code Sl.

No Questions Unit

U18MCO304TA1 1 Identify the Share allotment account ------------------. 1

U18MCO304TA1 2 Identify the Share Application account ---------------. 1

U18MCO304TA1 3 Indicate the minimum share Application money -----------. 1

U18MCO304TA1 4 Where is the Premium received on issue of shares shown? 1

U18MCO304TA1 5 What is the use of Premium on issue of shares? 1

For which purpose, Premium received on issue of shares cannot be


U18MCO304TA1 6 utilized ------------? 1
To which of the following account, shares issued at premium can be
U18MCO304TA1 7 credited? 1
State the Minimum number of members in case of public company
U18MCO304TA1 8 -----------. 1
State the Maximum number of members in public limited company
U18MCO304TA1 9 -----------. 1
In how many days a company can allot the shares, after getting the
U18MCO304TA1 10 minimum subscription from the public? 1
State the number of days within which a company should refund the
application money, in case of not receiving the minimum subcription
U18MCO304TA1 11 from the public -----. 1

U18MCO304TA1 12 When a public limitied can commence its business? 1

U18MCO304TA1 13 Identify the right choice of capital mentioned in MOA ----------. 1


Indicate the amount of capital that makes the difference between called
U18MCO304TA1 14 up capital and paid up capital is --------- 1
When the shares are issued to purchase the fixed asset,
U18MCO304TA1 15 -------------should be credited. 1
Indicate the percentage of interest to be paid on calls in arrears
U18MCO304TA1 16 ------------. 1
Indicate the percentage of interest to be paid on calls in advance
U18MCO304TA1 17 -----------. 1

U18MCO304TA1 18 To which of the following, Interest on calls in arrears is transferred to? 1

U18MCO304TA1 19 To which of the following, Interest on calls in advance is transferred to? 1


U18MCO304TA1 20 State the limit for the rate of discount on shares. 1

U18MCO304TA1 21 Name the account to which Discount on issue of shares is shown. 1


When shares are forfeited, the share capital account is debited by
U18MCO304TA1 22 ---------? 1

U18MCO304TA1 23 State the limit for discount on issue of forfeited shares. 1

To which of the following,the profit on reissue of forfeited shares is


U18MCO304TA1 24 transferred to? 1

U18MCO304TA1 25 Rights shares are those shares which are-----------. 1

U18MCO304TA1 26 Who are the real owners of a company? 1

U18MCO304TA1 27 Indicate what do the Preference share holders receive ---------. 1

U18MCO304TA1 28 What kind of shares a new company cannot issue? 1

U18MCO304TA1 29 Which type of shares the Indian companies cannot issue? 1


When shares are issued to promoters for their services,-----------is to be
U18MCO304TA1 30 debited. 1
U18MCO304TA1 31 What is the rate of Interest to be paid on calls paid in advance? 1
U18MCO304TA1 32 What do the Shareholders receive as return for their investment? 1

U18MCO304TA1 33 Calls in advance do not form part of which category of Capital? 1


To which a/c, the balance in sinking fund investment a/c after the
U18MCO304TA1 34 realization of investments is transferred to? 1
U18MCO304TA1 35 Indicate the minimum number of directors in private company. 1

Company can issue redeemable preference shares which are redeemable


U18MCO304TA1 36 within----- 1
In what form the profits of the company are distributed amongst the
U18MCO304TA1 37 shareholders? 1

U18MCO304TA1 38 Identify the dividend declared between two AGMs. 1


Identify the total remuneration payable to the managerial personnel that
U18MCO304TA1 39 is payable out of the net profits. 1

Bad debts recovered which was written off before purchase of business
U18MCO304TA1 40 should be-----------. 1

U18MCO304TA1 41 Which a/c can be used to write off past losses of the company? 1
Which is allowed to be transferred to capital redemption reserve
U18MCO304TA1 42 account? 1

Where an amount equal to redemption of preference shares out of


U18MCO304TA1 43 profits is transferred to? 1
U18MCO304TA1 44 Preference shares can be redeemed only when they are _____ paid. 1

U18MCO304TA1 45 What will the shares become after they are forfeited? 1

U18MCO304TA1 46 What does a debenture mean? 2

U18MCO304TA1 47 Who are the debenture holders actually? 2

U18MCO304TA1 48 In a company's Balance sheet, where the debentures are shown? 2


After the redemption of debentures, where is the balance of the sinking
U18MCO304TA1 49 fund a/c transferred to? 2

According to Companies Act 2013, where should be the premium on


U18MCO304TA1 50 issue of debentures credited to? 2
Discount on issue of debenture is shown where in a company's balance
U18MCO304TA1 51 sheet? 2
U18MCO304TA1 52 When is the Interest on debentures normally payable? 2

A fixed percentage of interest on debentures is calculated on which of


U18MCO304TA1 53 the following? 2

U18MCO304TA1 54 Where is the Profit on cancellation of own debentures transferred to? 2


Where is the balance in sinking fund investment a/c after the realization
U18MCO304TA1 55 of investments transferred to? 2
Where is the Premium on redemption of debentures a/c is transferred at
U18MCO304TA1 56 the time of redemption? 2
What is the nature of the interest payable on debentures against the
U18MCO304TA1 57 profit of the company? 2
Identify the nature of Discount on issue of debentures being written off
U18MCO304TA1 58 against capital profits. 2
Which of the following denotes the purchase price for the debentures
U18MCO304TA1 59 including interest for the expired period? 2
Which of the following denotes the purchase price for the debentures
U18MCO304TA1 60 excluding interest for the expired period? 2

U18MCO304TA1 61 Where will the own debentures a/c will appear on the balance sheet? 2

When debentures are to be repaid out of profits, an equal amount if


U18MCO304TA1 62 transferred to ----------- 2

U18MCO304TA1 63 Where is the Profit on sale of sinking fund Investment is credited to? 2

U18MCO304TA1 64 Where is the Gain on sale of sinking fund investment is credited to? 2

According to companies Act 1999, the premium on issue of debentures


U18MCO304TA1 65 is shown on the credit side of the ____. 2
Indicate the value to be debited to the own debentures account
U18MCO304TA1 66 --------------. 2

U18MCO304TA1 67 Interest on debentures can be paid only when a company makes _____. 2
Alteration of shares capital is effected by a company only when it is
U18MCO304TA1 68 authorized by the ----- 3
Who can permit the company to implement the capital reduction
U18MCO304TA1 69 schemes? 3
When there is a sub-division of share capital, the total number of shares
U18MCO304TA1 70 will -----------------? 3

U18MCO304TA1 71 Indicate how the Purchase consideration is payable, as -------------. 3


Realization expenses met by the purchasing company should be shown
U18MCO304TA1 72 on the debit side of the -----------. 3

U18MCO304TA1 73 What is the excess of purchase consideration over net asset called as? 3
When two or more companies goes into liquidation and new company
U18MCO304TA1 74 is formed then it is known as--------------. 3
When a new company is formed with the same name in order to take
U18MCO304TA1 75 over the business of the existing company it is called as------------- 3
When an existing company takes over the business of one or more
U18MCO304TA1 76 existing companies, it is called 3
When writing off of all accumulated losses, the balances in capital
U18MCO304TA1 77 reduction a/c, if any should be transferred to ; 3
When there is a gain on revaluation of assets at the time of internal
U18MCO304TA1 78 reconstruction, it will be credited to? 3
Indicate the a/c to which the amount of shares surrendered by the
U18MCO304TA1 79 shareholders is transferred during reorganization. 3
When a company converts its equity shares into capital stock, then the
U18MCO304TA1 80 account to be credited? 3
When there is a decrease in the value of assets during internal
U18MCO304TA1 81 reconstruction, it will be charged to? 3

U18MCO304TA1 82 What is the alternative term for Reconstruction account? 3

Given the balance in securities premium account, which cannot be


U18MCO304TA1 83 transferred to _____? 3

U18MCO304TA1 84 What is the other name for Intrinsic value method? 3

U18MCO304TA1 85 What does a trade liability include? 3


Where will the Undistributed profits of both revenue and capital nature
U18MCO304TA1 86 appear? 3

U18MCO304TA1 87 Which method is confined to the merger type of amalgamation? 3


The shareholders of transferor company who have not given their
U18MCO304TA1 88 acceptance to the scheme of amalgamation are called ____. 3
U18MCO304TA1 89 What is the Accounting standard followed for amalgamation? 3
State the nature of Pooling of interest method that is used to account for
U18MCO304TA1 90 amalgamation. 3

To whom, the Purchase consideration that includes cash and securities


U18MCO304TA1 91 agreed by the transferee company to transferor's company is given to? 3
Expenses of Liquidation of transferor company which is shown as
'Reimbursement' in transferor company's books, if the expenses are
U18MCO304TA1 92 agreed to be pay in : 3
Excess purchase consideration paid to the transferor company and
debited to goodwill account under the purchase method of accounting
U18MCO304TA1 93 for amalgamation should be written off within a period of 3
What is the accounting standard developed by the ASC of ICAI to bring
U18MCO304TA1 94 uniformity in accounting for amalgamation in India? 3
What is the method of accounting used to record amalgamation in the
U18MCO304TA1 95 nature of merger? 3
Any excess of purchase consideration paid over and above the share
capital of the Transferor company should be adjusted to which a/c in
U18MCO304TA1 96 transferee company's books? 3
What is required under the Net worth method and Intrinsic value
U18MCO304TA1 97 method of ascertaining purchase consideration? 3

Inter company Owings should be --------- while preparing the balance


U18MCO304TA1 98 sheet of the transferee company after completion of amalgamation. 3
When the amalgamation in the nature of merger, the consideration
U18MCO304TA1 99 should be paid in the form of purchasing companies' _____ only. 3
U18MCO304TA1 100 Accounting for amalgamation comes under which AS? 3

U18MCO304TA1 101 What involves Reconstruction of a company? 3


What is the name of the company into which a transferor company is
U18MCO304TA1 102 amalgamated? 3

U18MCO304TA1 103 Given, the Consolidation of shares does not affect the amount of -----. 3

U18MCO304TA1 104 What will the Cancellation of shares not taken up, not amount to? 3
U18MCO304TA1 105 Who can approve a company to carry out capital reduction? 3
What do you mean by the Alteration of shares of smaller amount into
U18MCO304TA1 106 shares of larger amount of share capital? 3

In a scheme of capital reduction, any new liability to be provided as


U18MCO304TA1 107 arrears of preference dividend, must be met out of which a/c? 3
For what the Reserves of the company can be utilized at the time of
U18MCO304TA1 108 internal reconstruction? 3
When giving permission for capital reduction, the court may order the
use of the words -------- after the name of the company for a specified
U18MCO304TA1 109 periods. 3
What is equal to Agreed value of assets taken over (-) Agreed value of
U18MCO304TA1 110 liabilities taken over? 3
What is equal to the Assets available for equity share holders / No of
U18MCO304TA1 111 equity shares? 3
When one existing company takes over the business of one or more
U18MCO304TA1 112 existing companies, it is ---------- 3
Which a/c is debited in the books of the purchasing company for the
U18MCO304TA1 113 agreed payment of cost of liquidation of the vendor company? 4
What is the maximum amount treated as preferential salaries and
U18MCO304TA1 114 wages? 4
Given, the Salaries due to clerk is preferential for a period cannot
U18MCO304TA1 115 exceed -----------. 4
U18MCO304TA1 116 Who is appointed to conduct the proceedings of winding up? 4

U18MCO304TA1 117 What is the Liquidator’s statement of receipts and payment known as? 4

U18MCO304TA1 118 Who is a contributory? 4

U18MCO304TA1 119 State the contribution that need not be made by a past member. 4

U18MCO304TA1 120 What is the first item in order of payment to be made by liquidator? 4

U18MCO304TA1 121 What do you mean by compulsory winding up? 4

U18MCO304TA1 122 What do you mean by Voluntary winding up? 4

U18MCO304TA1 123 List A in statement of affairs gives the list of 4

U18MCO304TA1 124 List E in statement of affairs gives the list of 4


U18MCO304TA1 125 Secured creditors are shown in the statement of affairs under; 4
U18MCO304TA1 126 Preferential creditors are shown in the statement of affairs under 4

The proceeds of assets not specifically pledged and the surplus of the
U18MCO304TA1 127 assets specifically pledged is first available for whom? 4
Any sum due to an employee out of provident fund which is an example
U18MCO304TA1 128 of? 4

U18MCO304TA1 129 When is the liquidator's final statement of A/c prepared? 4


Bills were discounted to the extent of Rs.10000 of which bills of
Rs.4000 are likely to be dishonored. What is the amount of liability to
U18MCO304TA1 130 be ranked in respect of these bills? 4
When the sale proceeds of pledged security is not sufficient to pay off
U18MCO304TA1 131 secured creditors fully, the balance due to them should be added to; 4

When the liquidated company has adequate cash to pay off all
U18MCO304TA1 132 liabilities, the interest on liabilities should be paid; 4
The job of realizing assets and liabilities and paying various liabilities
U18MCO304TA1 133 during liquidation of a company performed by a whom? 4

U18MCO304TA1 134 When winding up takes place, shareholders are described as --------- 4

U18MCO304TA1 135 Which deficiency equals the deficiency shown by the deficiency a/c? 4

When a company is insolvent, debenture interest is payable only up to


U18MCO304TA1 136 the date of ------------? 4
As per the provisions of Sec 205A unclaimed dividend should be
U18MCO304TA1 137 included in ----------- 4
When a company is liquidated, the liquidator have to file a statement of
U18MCO304TA1 138 receipts and payments known as -------- 4

U18MCO304TA1 139 List H shows the --------- a/c 4


When a company is liquidated, all persons who ceased to be the
shareholders within a year before the winding up are placed in the
U18MCO304TA1 140 ---------- 4
When a company is wound up, under the orders of court, the officers
and directors of the company must submit its statement of affairs within
U18MCO304TA1 141 --------- of the court's order 4
Assets not specifically pledged are shown in the statement of affairs at
U18MCO304TA1 142 --------- 4
Debenture holders secured by first floating charge are paid after the
U18MCO304TA1 143 payment to whom? 4
Which section says about the winding up by the court or compulsory
U18MCO304TA1 144 winding up? 4

The copy of the resolution passed in the meeting is sent to the Registrar
U18MCO304TA1 145 within -------- days of the date on which resolution is passed. 4

U18MCO304TA1 146 State the form of winding up. 4


A voluntary winding up of a company in the case of which no
U18MCO304TA1 147 "Declaration of solvency" is required, is called _________. 4
U18MCO304TA1 148 The term contributory includes the holder of what kind of shares? 4

U18MCO304TA1 149 A _____ is one who holds some security for a debt due to him. 4
______ creditors are those creditors who have to be paid before any
U18MCO304TA1 150 payment is made to any creditors. 4
________ list contains names of unsecured creditors and the amounts
U18MCO304TA1 151 due. 4
U18MCO304TA1 152 ______ gives the names and holding of preference share holder. 4
U18MCO304TA1 153 ___ is a list of preferential creditors and the amounts due. 4
U18MCO304TA1 154 _____ is a list of debenture holders having a floating charge. 4
What is the Salary payable to the managing director of a company
U18MCO304TA1 155 treated as in liquidation? 4

U18MCO304TA1 156 What is the treatment of Unsecured loan of a company? 4

U18MCO304TA1 157 A holding company is one which holds more than 5


A company in which more than 50% of shares are held by another
U18MCO304TA1 158 company is termed as 5
What is the Profit earned by a subsidiary company up to the date of
U18MCO304TA1 159 acquisition of shares by the holding company known as? 5
What is the Profit made by a subsidiary company after the date of
U18MCO304TA1 160 purchase of shares by the holding company known as? 5
U18MCO304TA1 161 The term 'Minority Interest' represents 5
The excess price paid by a holding company to acquire 'controlling
U18MCO304TA1 162 interest 'in the subsidiary company is transferred to which a/c? 5
When there is an excess of the share in equity or net assets of the
subsidiary over and above the price paid for the investment, it is shown
U18MCO304TA1 163 as -----------. 5

U18MCO304TA1 164 When Bonus shares are issued out of Post acquisition profits, it will ? 5
What is the profit included in the closing stock on the date of
U18MCO304TA1 165 consolidation known as? 5

U18MCO304TA1 166 Minority interest is shown on which side of consolidated balance sheet? 5

U18MCO304TA1 167 Indicate the nature of contingent liability shown in CBS. 5


When preparing a consolidated balance sheet, investment of the holding
company in the equity shares of the subsidiary is replaced by the --------
U18MCO304TA1 168 and -------- of the subsidiary 5

Where will the Holding Company's share of revenue profits of the


U18MCO304TA1 169 subsidiary be added to? 5
Dividends paid out of capital profits must be credited to which a/c by
U18MCO304TA1 170 the holding company? 5
Show the a/c to which Interim dividend pertaining to Pre-acquisition
U18MCO304TA1 171 period is adjusted to. 5
Where should be the Goods-in-transit and cash-in-transit entered on the
U18MCO304TA1 172 CBS? 5
Every holding company has to prepare consolidated balance sheet and
U18MCO304TA1 173 consolidated P&L a/c under which act? 5
U18MCO304TA1 174 What is Post-acquisition profits known as? 5
U18MCO304TA1 175 What is pre-acquisition profits known as? 5
It is necessary to shown the inter-company __________ in the
U18MCO304TA1 176 consolidated P&L a/c 5
When can a holding company cannot become the __________ of
U18MCO304TA1 177 another company 5
________ shares are issued out of capital profits which will have no
U18MCO304TA1 178 effect in consolidated Balance sheet. 5
When the pai up values of shares are held by the outsiders, they are
U18MCO304TA1 179 called ----------. 5
Where the Dividends paid out of revenue profits, should be ________
U18MCO304TA1 180 to P&L a/c 5
As per Companies Act, 1956, the maximum number of directors a
private limited company which is subsidiary of a public company, can
U18MCO304TA1 181 have without approval of the Central Government is – 5
What deals with the Preparation of consolidated Balance Sheet of
U18MCO304TA1 182 Holding Co. and its subsidiary company? 5

The share of outsiders in the Net Assets in subsidiary company is


U18MCO304TA1 183 shown under -------. 5

U18MCO304TA1 184 Pre-acquisition profit in subsidiary company is shown as 5


What is the excess of cost of investment over net assets of subsidiary
company known as ?
U18MCO304TA1 185 5

U18MCO304TA1 186 Identify how the profit earned before acquisition of share is treated. 5

U18MCO304TA1 187 Given the Preparation of consolidated statement as per AS 21 is 5

U18MCO304TA1 188 Who prepares the consolidated accounts ? 5

U18MCO304TA1 189 Minrotiy interest indicates the following components. 5

Face value debentures of subsidiary co. held by Holding Company is


U18MCO304TA1 190 deducted from which a/c ? 5
From where should the Unrealized profit on goods sold and included in
U18MCO304TA1 191 stock is deducted? 5
What is the Time interval between the date of acquisition of shares in
subsidiary company and date of Balance Sheet of Holding Company
U18MCO304TA1 192 known as? 5
Pre-acquisition dividend received by Holding company is credited to
U18MCO304TA1 193 5
Where should be the Post Acquisition dividend received by Holding
U18MCO304TA1 194 Company debited to? 5
When cost of acquisition is more than cost of investment in subsidiary
company, such difference is transferred to?
U18MCO304TA1 195 5

Which Exchange rate will be considered for conversion of share capital


U18MCO304TA1 196 of subsidiary company. 5
For calculating the minority interest we need to distinguish between
U18MCO304TA1 197 capital and _______ profits of the subsidiary 5
What is the accounting treatment followed for the Profit of Revaluation
U18MCO304TA1 198 on Fixed assets? 5
U18MCO304TA1 199 What is the nature of the Depreciation on revaluation of fixed asset ? 5
Minority interest shown in the balance sheet is the equity held by the
U18MCO304TA1 200 ___________ in the subsidairy company 5
What should be be the financial year of the both holding and subsidiary
U18MCO304TA1 201 companies? 5

Given that Issue of bonus shares out of the ___________ profits or


U18MCO304TA1 202 reserves will have no effect on the CBS 5
Indicate the percantage of shares a company has to acquire in another
U18MCO304TA1 203 company in order to become a holding company. 5
What is the excess price paid for investment over and above
U18MCO304TA1 204 proportionate share of net assets acquired by the holding company? 5
Part Option 1 Option 2 Option 3 Option 4 Answer level
Nominal Impersonal
A Personal account Real account account account 1
Personal Impersonal
A Nominal account Real account account account 3
10% of the
5% of the face issue price of 15% of the face
A value of shares shares Re. 1 per share value of shares 1
On the
On the asset side Liabilities side On the credit On the Debit
of the balance of the balance side of the p&l side of the p & l
A sheet sheet a/c. a/c 2
Distribution of Writing off Transferring to Paying fees to
A dividend capital losses general reserve directors 2
For providing
For writing off premium
For the issue of preliminary payable on For distribution
A bonus shares expenses redemption of dividend 4
Share premium Share first call Share allotment Share forfeited
A account account account account 1

A 4 5 6 7 4

A 10 20 50 Unlimited 4

A 90 100 110 120 4

A 7 9 10 22 3
After obtaining
After obtaining Certificate of After obtaining
Memorandum of commencement Articles of
A association Table a of business association 3
Authorized Subscribed
A capital Issued capital Reserve capital capital 1

A Issued capital Unpaid capital Reserve capital Uncalled capital 2


Share premium Share capital Share allotment
A Asset a/c a/c a/c a/c 3

A 3 4 5 6 3
A 5 6 7 9 2
Debit side of p&l Credit side of
A a/c. p&l a/c Liability side Asset side 2
Debit side of p&l Credit side of
A a/c. p&l a/c Liability side Asset side 1
A 5.00% 10.00% 12.00% 15.00% 2
Liability side Debit side of Credit side of
Asset side of the of the balance the profit and the profit and
A balance sheet sheet loss account loss account 1
Called-up Issue price of
A Paid up capital capital Calls in arrears shares 2
The amount
received so far
5% of subscribed 10% of on forfeited 25% of original
A capital reissued capital shares issue price. 3
Capital
redemption Profit and loss
A General reserve reserve Capital reserve account 3
Issued to
Issued by a First offered to Issued to the holders of
newly formed the existing directors of the convertible
A company share holders. company debentures 2
Equity Preference Debenture
A shareholders shareholders holders Bond holders 1
Fixed rate of Flexible rate of Fixed rate of Flexible rate of
A interest interest dividend dividend 3
Shares at Shares at Shares at Face
A Premium Discount Shares at Par value 2
Preference Sweat equity
A Equity shares shares shares Deferred shares 4
Promoter Goodwill Discount
A Bank account account account account 3
A 4% 6% 7% 9% 2
A Dividend Interest Penalty Prizes 1
Subscribed Preference Equity share
A Paid up capital capital capital capital 1
Profit and loss Sinking fund None of the
A a/c Debenture a/c a/c above 3
A 2 5 10 20 1
5 years from 7 years from
10 years from the date of the date of 2 years from the
A the date of issue. issue issue date of issue. 2
Premium from
A Shares issue of share Reserves Dividend 4
Half-yearly
A Interim dividend Final dividend Semi dividend dividend 1

A 5.00% 10.00% 11.00% 15.00% 3


Posted in pre - Posted in post
Divided in time Divided in incorporation incorporation
A ratio sales ratio period period 3
Capital
General reserve Revenue redemption
A a/c reserve a/c reserve a/c Premium a/c 3
Contingency
A General Reserve Reserve fund reserve None 2
Capital
General reserve Revenue redemption
A a/c reserve a/c reserve a/c Premium a/c 3
A Partly Fully Both None 2
Property of the Property of the Property of the Property of all
A government. company shareholders the shareholders 2
Investment by Long term
Manager's share shareholders in borrowing of a None of the
A in business a business business above 3
Customers of the Creditors of the Owners of the None of the
A company company company above 2
Share capital Current
A Secured loan Unsecured loan a/c liabilities 1
General
A Secret reserve reserve Capital reserve P&la/c 2
Debenture
Share premium premium Securities None of the
A account account premium above 3
Loans and Miscellaneous
A Fixed assets advances Investments expenditure 4
A Half yearly Quarterly Annually Monthly 1
The nominal The face value
The issue prices value of of the None of the
A of debentures debentures
Dividend debentures above 2
Profit and loss equalization None of the
A a/c a/c Capital reserve above 3
Profit and loss Sinking fund None of the
A a/c Debenture a/c a/c above 3
Debenture None of the
A Premium a/c holders a/c Debentures a/c above 2
Does not
A Charge charge Left All of the above 1
None of the
A Revenue loss Income Capital loss above 3
Debenture
A Ex-interest Interest interest Cum – interest 4
Debenture
A interest Ex-interest Cum - interest Interest 2
None of the
A Assets side Liability side Debentures a/c above 1
Debenture
redemption Capital reserve
A Debenture fund reserve Reserve account 2
Profit or loss None of the
A Investments a/c a/c Sinking fund above 3
Share premium Discount Debentures General reserve
A account account account a/c 3
Debenture Securities
Share premium premium premium
A account account account None of these 3
The cum- The exinterest
A The fair value interest price price None of these 3

A Reserve Loss Profit None of these 3


Memorandum of Articles of Board of
A association association Shareholders directors 2
Controller of The component
A Central govt capital issues Shareholders court 4
Decrease
A Not change Decrease Increase proportionately 3
Any one of the
above or all of
A Cash Shares Debentures the above 4
Realization Goodwill Capital reserve
A account account Vendor account account 3
Securities Preliminary
A premium Capital reserve Goodwill expenses 3
Internal External
A Absorption Amalgamation reconstruction reconstruction 2
Internal External
A Absorption Amalgamation reconstruction reconstruction 3
None of the
A Amalgamation Absorption Reconstruction above 2
Capital reserve general reserve
A Share capital a/c a/c a/c Goodwill a/c 2
Capital reserve Capital Share capital General reserve
A a/c reduction a/c a/c a/c 2
Capital reserve General Surrendered Capital
A a/c reserve a/c shares a/c reduction ac 3
Preference Equity share Equity capital
A shares capital a/c capital a/c stock a/c Goodwill a/c 3
Capital
A Goodwill a/c reduction a/c Revaluation a/c Share capital a/c 2

Capital reserve Capital General reserve


A account reduction a/c account P & l a/c 2

Capital reserve Capital General reserve


A account reduction a/c account P & l a/c 2
Shares
Lump sum Net payment exchange
A Net asset method method method method 4
Outstanding Prepaid
A Cash balance Bank balance expenses expenses 3
Trading
A Assets side Liabilities side account P & l a/c 2
Lump sum Purchase Pooling of
A method method interest method None of these 3
Equity Preference Dissenting
A shareholders shareholders shareholders None of these 3
A AS-8 AS-20 AS-14 AS-3 3
None of the
A Purchase Sale Merger above 3
Shareholders Creditors,
and debenture debenture None of the
A Shareholders holders holders above 1

Transferor Transferee Both the Neither


A company company companies company 2

A 2 yrs. 8 yrs. 20yrs 5 yrs. 4

A 14 13 15 6 1
Pooling of Purchase Acquisition None of the
A interests method method method above 1

None of the
A Capital a/c P&l a/c Reserves above 3

A Reserves Net assets Net liabilities All of the above 2

A Added Reduced Reimbursed Eliminated 4

A Cash Shares Debentures Bonds 2


A AS 13 AS 14 AS 15 AS 16 2
Reorganization Reorganization Reorganization
of Assets of Financial of Liability
A structure structure structure All of these 2
Joint stock Transferor Transferee
A company company company None of these 3

A Share capital Reserves Assets Liabilities 1


Reduction of Redemption of None of the
A Capital Capital Reverse Capital above 1
A Court Legal systems AGM First meeting 1
None of the
A Absorb Amalgamation Consolidation above 3
Dividend
Capital equalization
A Reserves reduction a/c P & L a/c reserve 2
Accumulated Accumulated None of the
A P & L a/c Profits Losses above 3

A Reduced Losses Added All of the above 1


Lump sum Net asset Net payment Intrinsic value
A method method method method 2
Lump sum Net asset Net payment Intrinsic value
A method method method method 4
External Internal
A Absorption Amalgamation reconstruction reconstruction 1
Goodwill Capital reserve Goodwill and None of the
A account account capital account above 3

A 25000 30000 20000 40000 3


A Two months Three months four months Fine months 3
A Executor Registrar Liquidator Vendor 3
Liquidator’s
Cash flow final statement Deficiency
A statement Cash book of account account 3
A convertible
A debenture debenture
A A creditor A shareholder holder holder 2

In case of
In respect of any company
liability limited by
contracted after One year shares, no
he ceased to be passed since he liability arises
member of the ceased to be a if shares are All of the
A company. member. fully paid up above 4
Preferential Liquidation Preferential
A Secured creditors creditors expenses creditors 3

If a company
If the number does commence
of members of its business
If a company company within a year
unable to pay its reduced below from its All of the
A debt statutory limit. incorporation. above. 4

Members
If company voluntary
passes a special winding up is
resolution the applicable to
If period fixed company solvent
for the company wound up companies
A is expired. voluntarily. only. all of the above 4
Assets Assets not
specifically specifically Unsecured Secured
A pledged pledged creditors creditors 2
Preferential Debenture Unsecured Secured
A creditors holders creditors creditors 3
A List a List b List c List d 2
A List d List b List c List a 3

Legal charges,
liquidators
remuneration,
Preferential Unsecured and liquidation Preference
A creditors creditors expenses shareholders 3
Unsecured Preferential Secured Partly secured
A creditors creditors creditors creditors 2
Only in case of Only in case of Only in case of
creditors members compulsory Whatever may
voluntary voluntary winding up by be the mode of
A winding up winding up the court winding up. 4

A Rs.10000 Rs.4000 Rs.6000 Rs.14,000 2


Unsecured Preferential Equity capital Preference share
A creditors creditors stock a/c capital 1
Up to date of Up to the date
commencement of actual Up to date of
of insolvency payment of payment of None of the
A proceedings liabilities shareholders these 2

A A creditor a shareholder An executor Liquidator 4


Creditors of the Debenture
A Contributories company holders Debtors 1
Statement of None of the
A Balance sheet P&L a/c affairs above 3
End of At any time
Commencement insolvency Before the after the
A of insolvency process order of court insolvency 1

A List A List H List B List E 4


Liquidator's final None of the
A statement a/c Payment a/c Balance sheet above 1
Liquidator's
Deficiency or Profit or loss final statement Preferential
A surplus a/c a/c creditors 1

B list of
A List A contributories List C List D 2

A 20 days 25 days 23 days 21 days 4


Court ordered Estimated None of the
A Net value value realizable above 3
Legal charges,
liquidators
remuneration,
Preferential Unsecured and liquidation Preference
A creditors creditors expenses shareholders 1

A Sec 433 Sec 425 Sec 430 Sec 432 1

A 12 days 10 days 5 days 15 days 2


Winding up
subject to
Compulsory Voluntary supervision of
A winding up winding up court All of these 4
Voluntary Creditors Compulsory
A winding up winding up winding up None of these 2
A Partly paid up Fully paid up Both a and b None of these 2
Unsecured Secured Preferential
A creditors creditors creditors All of the above 2
Unsecured Secured Preferential
A creditors creditors creditors All of the above 3

A List D List C List E List A 3


A List D List C List E List F 4
A List D List C List E List F 2
A List D List C List E List F 1

A Secured debt Unsecured debt Fully debt Partly debt 2


Unsecured Preferential
A Secured creditors creditors creditors None 2
2/3 rd share 50% of share 75% of share
capital of capital of capital of
subsidiary subsidiary government None of the
A company company company above 2
Holding Subsidiary Government
A company company capital Public company 2
Revaluation Realization
A Revenue profits Capital profits profits profits 2
Revaluation Realization
A profits profits Capital profits Revenue profits 4
The company
The shareholders The interest of which holds
holding 50% of the outsiders in more than 51%
shares in the subsidiary in subsidiary None of the
A subsidiary co. co. co. above 2
Revenue None of the
A Capital reserve Goodwill a/c reserve above 2

Revenue None of the


A Capital reserve Cost of control reserve above 1

Increase the
goodwill to the
extent of the
Decrease the holding
Have no effect Decrease the total of assets company's share
A on cbs revenue profits side of cbs of the bonus. 2
Unrealized
A Profit Losses profit Unrealized loss 3
Debit side of p&l Credit side of
A a/c. p&l a/c Assets side Liabilities side 4
At the starting
End of the of balance None of the
A Foot note balance sheet above 1
Subsidiary and Holding and
Cash and bank holding Assets and subsidiary
A a/c company a/c liabilities company a/c 3
Should be Profit & loss a/c
Profit in the Loss in the shown in in the balance
A balance sheet balance sheet balance sheet sheet 4
Share capital None of the
A Investments a/c Reserve fund a/c above 1

A Minority interest Cost of control Capital profit Revenue profits 2


None of the
A Liabilities side P&l a/c Assets side above 3
Companies act Companies act Companies act Companies act
A 1957 1956 1975 1885 2
A Capital profit Mixed profit Revenue profit Deemed 3
A Capital Mixed Revenue Deemed profit 1

A Profits Revenue Dividends Losses 3


Public limited
A Holding Subsidiary company Registered 2

A Equity Preference Bonus All of the above 3


Holding Subsidiary Minority Chartered
A company company shareholders companies 3
None of the
A Debited Credited Omitted above 2

A 10 11 12 13 3

A As 11 As – 22 As 21 As – 23 3
Subsidiary
Outsiders company's Minority
A liability Assets liability interest 4
Non of the
A Revenue profit Capital profit Goodwill above 2

Minority
A Goodwill Capital reserve interest Non of above 1

A Capital profit Revenue profit General reserve revaluation loss 1


Mandatory for
listed Mandatory for Companies ltd.
A Optional companies pvt. Ltd. Partnership firm 2
Subsidiary Holding Listed
A Minority company company subsidiary co 3
Share in share Share in capital Share in
A capita profit revenue profit All of the above 4
debentures in
Minority consolidated
A Debentures Cost of control interest balance sheet 2
Minority
A Capital profit Revenue profit Fixed assets interest 2
Post- Pre- Pre-
Pre-acquisition acquisition commencement incorporation
A period period period period. 2
Non of the
A Profit & loss a/c Capital profit Investment a/c above 3
Profit & loss
A Bank a/c a/c Dividend a/c Investment a/c 2
Revenue Non of the
A Goodwill Capital reserve reserve above 1
Rate of which
date share
acquired
A Opening rate Closing rate Average rate (actual) 4
None of the
A Accrued Deemed Revenue above 3

A Capital loss Revenue loss Capital profit Revenue profit 3


A Capital loss Revenue loss Capital profit Revenue profit 2
Preferential Equity
A shareholders shareholders Outsiders Creditors 3
None of the
A Different Same Both a and b above 2
Post-
Pre-acquisition acquisition
A profit profit Deemed profit Capital reserve 2

A 20% 30% 45% 50% 1

A Goodwill Cost of control General reserve All of the above 2

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