Question : 400 shares of 50 each issued at par were forfeited for non-payment of final call of 10 per share. These shares were reissued at 45 per share as fully paid-up. The amount transferred to capital reserve is:
Option 1: 15,000
Option 2: 14,000
Option 3: 16,000
Option 4: 13,000
Correct Answer: 14,000
Solution : Amount transferred to Capital Reserve A/c = Debit balance of Forfeiture A/c - Credit balance of Forfeiture A/c = ₹ [(400 X 40) - (400 X 5)] = ₹ 14,000.
Question : Dividend received is
Option 1: Operating activity
Option 2: Financing activity
Option 3: Investing activity
Option 4: Cash and cash equivalents
Question : Arrange the following in the correct order:
(A) Subscribed Capital
(B) Issued Capital
(C) Authorised Capital
(D) Paid-up Capital
(E) Called-up Capital
Choose the correct answer from the options given below:
Option 1: (C), (B), (A), (D), (E)
Option 2: (B), (C), (A), (D), (E)
Option 3: (C), (B), (A), (E), (D)
Option 4: (B), (C), (A), (E), (D)
Question : Arrange the following steps in the correct sequence of the life of a company :
(A) Commencement of Business
(B) Incorporation
(C) Promotion
(D) Floatation
Choose the correct answer from the options given below :
Option 1: (A), (B), (C), (D)
Option 2: (A), (C), (B), (D)
Option 3: (B), (A), (D), (C)
Option 4: (C), (B), (D), (A)
Question : Arrange the following in the correct sequence in the context of debenture.
(A) Payment to debenture-holders
(B) Creation of DRR
(C) Issue of debentures
(D) Redemption becomes due
Question : Which year marked the third general election in India?
Option 1: 1952
Option 2: 1957
Option 3: 1962
Option 4: 1967
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