Accounting for share Capital Test

Result

Accounting for share Capital Test - 3

Score
-
out of -
Rank
-
out of -

TIME Taken - -

SHARING IS CARING

If our Website helped you a little, then kindly spread our voice using Social Networks. Spread our word to your readers, friends, teachers, students & all those close ones who deserve to know what you know now.

Weekly Quiz Competition

Question 1
1 / -0

_______ Shares are not convertible.

A
Convertible Preference Shares

B
Preference Shares

C
Both Preference Shares and Convertible Preference Shares

D
Equity Shares

Solution

Equity Shares are not convertible. Preference shares can be converted into equity shares depend upon the terms and conditions.
Question 2
1 / -0

Which type of capital will take place after the authorized capital?

A
Called up Capital

B
Subscribed Capital

C
Issued Capital

D
Paid up Capital

Solution

Types of capital in order:
(a) Authorized Capital
(b) Issued Capital
(c) Subscribed Capital
(d) Called up capital
(e) Paid up capital
Question 3
1 / -0

Debentures are shown in the Balance Sheet of a company under the head of

A
Non current liabilities

B
Current liabilities

C
Share capital

D
None of these

Solution

Non current liabilities
Question 4
1 / -0

_______ is shown by way of deduction from subscribed capital while preparing notes to account.

A
Calls-in-advance

B
Share Forfeiture A/c

C
Dividend

D
Calls-in-arrears

Solution

Calls in arrears is shown by way of deduction from subscribed capital while preparing notes to account. At the time of preparation of Balance Sheet of a company, while ascertaining the amount of share capital by preparing notes to accounts, the amount of calls in arrears should be deducted from the subscribed capital (subscribed but not fully paid up).
Question 5
1 / -0

The capital which is part of the uncalled capital of the company which can be called up only in the event of its winding up it is called

A
Nominal capital

B
Issued capital

C
Authorized Capital

D
Reserve capital

Solution

Reserve Capital: It is uncalled capital which can be called up by the company in case of an emergency i.e. winding up. It is a part of Authorized Capital.
Question 6
1 / -0

When the entire face value of a share is called by the company and is also paid by the shareholder, It is known as ______________

A
Subscribed but not fully paid up capital

B
Subscribed and fully paid up capital

C
Capital Reserve

D
Reserve Capital

Solution

When the entire face value of a share is called by the company and is also paid by the shareholder, It is known as Subscribed and fully paid up capital.
Question 7
1 / -0

Authorized share capital is also known as:

A
Called up capital

B
Paid up capital

C
Issued capital

D
Nominal Capital

Solution

Authorised capital is also known as nominal capital. It refers to that amount which is stated in the Memorandum of Association.
Question 8
1 / -0

Which of the following represents the excess of issued price over the nominal value of shares?

A
Premium on issue of share

B
Share Capital

C
Discount on issue of share

D
Profit of the company

Solution

When a company issues its shares at a price which is more than the actual face value, it is known as shares issued at premium.
Question 9
1 / -0

When debentures are issued at a discount, should be written off the discount

A
In the year of the issue of debentures

B
In the year of redemption of debentures

C
During the life of the debentures

D
Within 5 years of the issue of debentures

Solution

During the life of the debentures
Question 10
1 / -0

Vinod Limited invited applications for subscription of 10,000 Equity shares @ Rs.10 each. Applications were received for 25,000 shares. This situation is called

A
Under subscription of shares

B
Full Allotment of shares

C
Oversubscription of shares

D
Private Placement of shares

Solution

When a company receives excess applications i.e. more applications than the shares offered for subscription, is called oversubscription of shares.

User

Question Analysis

Correct -
Wrong -
Skipped -

My Perfomance

Score
-
out of -
Rank
-
out of -

Re-Attempt Weekly Quiz Competition

Accounting for share Capital Test - 3

Result

Accounting for share Capital Test - 3

Score

-

Rank

-

SHARING IS CARING

Question 1

Convertible Preference Shares

Preference Shares

Both Preference Shares and Convertible Preference Shares

Equity Shares

Solution

Question 2

Called up Capital

Subscribed Capital

Issued Capital

Paid up Capital

Solution

Question 3

Non current liabilities

Current liabilities

Share capital

None of these

Solution

Question 4

Calls-in-advance

Share Forfeiture A/c

Dividend

Calls-in-arrears

Solution

Question 5

Nominal capital

Issued capital

Authorized Capital

Reserve capital

Solution

Question 6

Subscribed but not fully paid up capital

Subscribed and fully paid up capital

Capital Reserve

Reserve Capital

Solution

Question 7

Called up capital

Paid up capital

Issued capital

Nominal Capital

Solution

Question 8

Premium on issue of share

Share Capital

Discount on issue of share

Profit of the company

Solution

Question 9

In the year of the issue of debentures

In the year of redemption of debentures

During the life of the debentures

Within 5 years of the issue of debentures

Solution

Question 10

Under subscription of shares

Full Allotment of shares

Oversubscription of shares

Private Placement of shares

Solution

User

Question Analysis

My Perfomance

Score

-

Rank

-

Results Announcement on: coming Monday

Stay Tuned: We’ll update you on your result via email or SMS.