Question : Which of the following is not a capital profit?

Option 1: Profit prior to incorporation of the company 

Option 2: Profit from the sale of fixed Assets

Option 3: Premium on issue of shares 

Option 4: Compensation received on the termination of the contract

Question : Which of the following is not a capital profit?

Option 1: Profit prior to incorporation of the company 

Option 2: Profit from the sale of fixed Assets

Option 3: Premium on issue of shares 

Option 4: Compensation received on the termination of the contract

Question : In case debentures of Rs 2,00,000 redeemable at a premium were purchased from the open market at below the nominal value. Gain on cancellation is transferred to

Option 1: General reserve

Option 2: Capital reserve

Option 3: Capital redemption reserve

Option 4: None of the above

Question : Which should be considered as capital receipt of a club?

Option 1: Cash from the sale of fixed assets

Option 2: Cash from the sale of shares in the business

Option 3: Cash from the issuance of a debt instrument which includes loans and bonds

Option 4: All of the above

Question : ----------------- is a fund earmarked for investment in fixed assets or already invested in fixed assets. An example of a Fixed Assets Fund is a Building Fund & Amount invested in fixed assets during the year is transferred to a Capital Fund.

Option 1: Capital fund

Option 2: Fixed assets fund

Option 3: Endowment Fund

Option 4: None  of the above