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 - 5
Question 1:Â
According to Section 52 of the Compaines Act, the amount in the Securities Premium Account cannot be used for the purpose of:
(a) Issue of fully Paid Bonus Shares
(b) Writing Off Losses of the Company
(c) Writing off Preliminary Expenses
(d) Writing Off Commission or Discount on Issue of Shares
Correct Answer – (B)
Question 2:Â
If vendors are issued fully paid shares of ₹ 1,00,000 in consideration of net assets of ₹ 1,20,000 the balance of ₹ 20,000 will be credited to :
(a) Goodwill Account
(b) Capital Reserve Account
(c) Vendor’s Account
(d) Profit & Loss Account
Correct Answer – (B)
Question 3:Â
Which one of the following is the registered capital of the company ?
(a) Paid-up capital
(b) Uncalled capital
(c) Authorised capital
(d) Issued capital
Correct Answer – (C)
Question 4:Â
As per Table F the maximum rate of interest on calls in advance paid is:
(a) 8% p.a.
(b) 12% p.a.
(c) 5 % p.a.
(d) None of these
Correct Answer – (B)
Question 5:Â
If equity share of ₹ 10 Rs. each is issued at ₹ 12 each, it is called:
(a) Issued at Par
(b) Issued at Premium
(c) Issued at Discount
(d) None of these
Correct Answer – (B)
MCQ Questions Class 12 Accounting for Share Capital With Answers
Question 6:Â
Which account should be debited when shows an issued to promoters:
(a) Share Capital A/c
(b) Assets A/c
(c) Promoter’s A/c
(d) Goodwill A/c
Correct Answer – (D)
Question 7:Â
Dividends are usually paid on :
(a) Authorised Capital
(b) Issued Capital
(c) Called-up Capital
(d) Paid-up Capital
Correct Answer – (D)
Question 8:Â
As per the Companies Act, only preference shares, which are redeemable within _______________________ can be issued.
(a) 24 years
(b) 22 years
(c) 30 years
(d) 20 years
Correct Answer – (D)
Question 9:Â
The maximum capital beyond which a company is not allowed to raise funds, by issue of shares is called __________________.
(a) Issued capital
(b) Reserve capital
(c) Authorised capital
(d) Subscribed capital
Correct Answer – (B)
Question 10:Â
Premium on issue of shares can be used for :
(a) Issue of Bonus shares
(b) Distribution of Profit
(c) Transferring to General Reserve
(d) All these
