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 - 3
Question 1:Â
Under the provisions of Companies Act, company can issue:
(a) Only equity shares
(b) Only preference shares
(c) Preference shares and equity shares
(d) None of these
Correct Answer – (C)
Question 2:Â
Equity shareholders are :
(a) Creditors of the company
(b) Owners of the company
(c) Customers of the company
(d) None of these
Correct Answer – (B)
Question 3:Â
A company has _______________ .
(a) Separate Legal Entity
(b) Perpetual Existence
(c) Limited Liability
(d) All the above
Correct Answer – (D)
Question 4:Â
Amount of calls in Arrear is :
(a) Added to capital
(b) Deducted from share capital
(c) Shown on the assets side
(d) Shown an the equity and liability side
Correct Answer – (B)
Question 5:Â
Z & Co. forfeited 100 shares of 10 Rs. each for non-payment of final call of 2 Rs. per share. All the forfeited shares were re-issued at 9 Rs. per share. What amount will be transferred to Capital Reserve A/c ?
(a) 700 Rs.
(b) 800 Rs.
(c) 900 Rs.
(d) 1,000 Rs.
Correct Answer – (A)
MCQ Questions Class 12 Accounting for Share Capital With Answers
Question 6:Â
Balance of Forfeited Shares Account after reissue of forfeited shares is transferred to :
(a) Profit & Loss A/c
(b) Capital Reserve Account
(c) General Reserve Account
(d) None of these
Correct Answer – (B)
Question 7:Â
The liability of members in a company is :
(a) Limited
(b) Unlimited
(c) Stable
(d) Fluctuating
Correct Answer – (A)
Question 8:Â
Discount allowed on reissue of forfeited shares is debited to:
(a) Share Capital A/c
(b) Share Forfeiture A/c
(c) Profit & Loss A/c
(d) General Reserve A/c
Correct Answer – (B)
Question 9:Â
Forfeiture of shares results in the reduction of:
(a) Paid-up Capital
(b) Authorised Capital
(c) Fixed Assets
(d) Reserve Capital
Correct Answer – (A)
Question 10:Â
If a share of ₹ 10 on which ₹ 8 has been paid up is forfeited, it can be reissued at the minimum price of ____________.
(a) 10 Rs. per share
(b) 8 Rs. per share
(c) 5 Rs. per share
(d) 2 Rs. per share
