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12th Standard Accounts Company Accounts English Medium Free Online Test One Mark Questions 2020 - 2021

12th Standard

    Reg.No. :
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Accountancy

Time : 00:10:00 Hrs
Total Marks : 10

    Answer all the questions

    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. 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

  3. If a share of Rs.10 on which Rs.8 has been paid up is forfeited. Minimum reissue price is

    (a)

    Rs.10 per share

    (b)

    Rs.8 per share

    (c)

    Rs.5 per share

    (d)

    Rs.2 per share

  4. A public issue cannot be kept open for more _____ days.

    (a)

    5

    (b)

    10

    (c)

    20

    (d)

    25

  5. Normally companies can issue shares at _____ % of discount.

    (a)

    5

    (b)

    10

    (c)

    20

    (d)

    25%

  6. The portion of the authorized capital which can be called-up only on the liquidation of the company is called

    (a)

    Authorized capital

    (b)

    Reserve capital

    (c)

    Issued capital

    (d)

    Called up capital

  7. The minimum share Application money is _______________

    (a)

    5% of the face value of shares

    (b)

    10% of the issue price of shares

    (c)

    Rs.1 per share

    (d)

    15% of the face value of shares

  8. If the company-A purchases the majority shares of company-B, what combination would this be referred to?

    (a)

    Amalgamation

    (b)

    Takeover

    (c)

    Absorption

    (d)

    None of these

  9. Which of the following statement is true:

    (a)

    Authorized capital = Issued capital

    (b)

    Authorized capital> Issued capital

    (c)

    Paid up capital>Issued capital

    (d)

    None of these

  10. The excess amount paid over the called up value of a share is known as _____________

    (a)

    Calls in arrear

    (b)

    Calls in advance

    (c)

    Capital Reserve

    (d)

    None of these

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