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No Questions Unit
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
U18MCO304TA1 45 What will the shares become after they are forfeited? 1
U18MCO304TA1 61 Where will the own debentures a/c will appear on the balance sheet? 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
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 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 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
U18MCO304TA1 117 What is the Liquidator’s statement of receipts and payment known as? 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
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
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
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 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 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 186 Identify how the profit earned before acquisition of share is treated. 5
A 4 5 6 7 4
A 10 20 50 Unlimited 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 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 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
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
B list of
A List A contributories List C List D 2
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 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