CBSE Class 12 Accounting for Share Capital Multiple Choice Questions with Answers. MCQ Questions Class 12 Accounting for Share Capital with Answers Is Prepared Based on Latest Exam Pattern. Students can solve NCERT MCQ questions Class 12 Accounting for Share Capital with Answers to know their preparation level.
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MCQ Questions Class 12 Accounting for Share Capital with Answers - Set - 2
Question 1:Â
J. Ltd. re-issue 2,000 shares which where forfeited by crediting share forfeiture account by ₹ 3,000. These shares were re-issued at ₹ 9 per share. The amount transferred to capital reserve will be :
(a) ₹ 3,000
(b) ₹ 2,000
(c) ₹ 1000
(d) Nil
Correct Answer – (C)
Question 2:Â
When shares are forfeited, the Share Capital Account is debited with:
(a) Nominal value of Shares
(b) Market value of Shares
(c) Called-up value of Shares
(d) Paid-up value of Shares
Correct Answer – (C)
Question 3:Â
An issue of shares which is not a public issue but offered to a selected group of persons is called :
(a) Public offer
(b) Private placement of shares
(c) Initial public offer
(d) None of these
Correct Answer – (D)
Question 4:Â
Shares may be issued :
(a) At par value
(b) At Premium
(c) At Discount
(d) Both (a) & (b)
Correct Answer – (D)
Question 5:Â
Reserve capital means :
(a) A part of subscribed uncalled capital
(b) Reserve Profit
(c) A part of Capital Reserve
(d) A part of Capital Redemption Reserve
Correct Answer – (A)
MCQ Questions Class 12 Accounting for Share Capital With Answers
Question 6:Â
If the loss on reissue of shares is less than the amount forfeited, the ‘surplus’ or profit is transferred to :
(a) Capital Reserve
(b) Revenue Reserve
(c) Profit & Loss A/c
(d) None of these
Correct Answer – (A)
Question 7:Â
If a share of ₹ 10 on which ₹ 8 has been called and ₹ 6 is paid is forfeited, the Share Capital Account should be debited with :
(a) ₹ 8
(b) ₹ 10
(c) ₹ 6
(d) ₹ 2
Correct Answer – (A)
Question 8:Â
Capital included in the liabilities of a company is called :
(a) Authorised Capital
(b) Issued Capital
(c) Subscribed Capital
(d) Paid-up Capital
Correct Answer – (D)
Question 9:Â
Securities Premium is shown under which head in the Balance Sheet ?
(a) Reserve and Surplus
(b) Miscellaneous Expenditure
(c) Current Liabilities
(d) Share Capital
Correct Answer – (A)
Question 10:Â
Equity shareholders are :
(a) Customers
(b) Creditors
(c) Debtors
(d) Owners
