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 : When debentures are issued at premium and redeemed at premium, the journal entry will have the following combination:

(A) Discount on issue of debentures account is credited

(B) Loss on issue of debentures account is debited

(C) Security premium account is credited

(D) Premium on redemption of debentures account is credited

Option 1: (A), (B) and (D) only

Option 2: (A), (B) and (C) only

Option 3: (A), (B), (C) and (D)

Option 4: (B), (C) and (D) only

Question : The adjustment required for overvaluation of closing stock, while calculating adjusted profit for calculate goodwill is

(A) reduction from concerned year's profit.

(B) reduction from next year's profit.

(C) addition to next year's profit.

(D) addition to previous year's profit

Choose the correct answer from the options given below:

Option 1: (A), (B) and (D) only

Option 2: (A) and (C) only

Option 3: (A) and (D) only

Option 4: (B), (C) and (D) only.

Question : If there is no claim against Workmen Compensation Reserve, it is _____ at the time of admission of a partner.

Fill in the blank with the correct answer from the options given below.

Option 1: debited to old partners' capital account.

Option 2: credited to all partners' capital accounts.

Option 3: credited to old partners' capital accounts

Option 4: debited to all partners' capital accounts.

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)