Company Accounts One Mark Questions

12th Standard EM

    Reg.No. :
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Accountancy

Time : 00:30:00 Hrs
Total Marks : 10
    10 x 1 = 10
  1. A preference share is one
    (i) which carries preferential right with respect to payment of dividend at fixed rate
    (ii) which carries preferential right with respect to repayment of capital on winding up

    (a)

    Only (i) is correct

    (b)

    Only (ii) is correct

    (c)

    Both (i) and (ii) are correct

    (d)

    Both (i) and (ii) are incorrect

  2. Which of the following statement is false?

    (a)

    Issued capital can never be more than the authorised capital

    (b)

    In case of under subscription, issued capital will be less than the subscribed capital

    (c)

    Reserve capital can be called at the time of winding up

    (d)

    Paid up capital is part of called up capital

  3. When shares are issued for purchase of assets, the amount should be credited to

    (a)

    Vendor’s A/c

    (b)

    Sundry assets A/c

    (c)

    Share capital A/c

    (d)

    Bank A/c

  4. The money raised by issuing shares is called

    (a)

    Share capital

    (b)

    Dividend

    (c)

    Equity capital

    (d)

    Share application

  5. Profits are distributed among the shareholders in the form of

    (a)

    shares

    (b)

    dividends

    (c)

    both

    (d)

    none of these

  6. Company is a voluntary association of persons which has separate

    (a)

    legal entity

    (b)

    voluntary association

    (c)

    common seal

    (d)

    limited liability

  7. The liability of the shareholders of the company is limited to the extent of face value of the shares held by the

    (a)

    shareholders

    (b)

    cardholders

    (c)

    debenture holders

    (d)

    none of these

  8. Equity shares do not enjoy any

    (a)

    Equity rights

    (b)

    Preference rights

    (c)

    Dividend of rights

    (d)

    Ordinary shares

  9. Equity shares are also known as

    (a)

    authorised capital

    (b)

    issued capital

    (c)

    subscribed capital

    (d)

    ordinary shares

  10. Authorised capital is also known as

    (a)

    paid up capital

    (b)

    called up capital

    (c)

    nominal capital

    (d)

    subscribed capital

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