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12th Accountancy - Company Accounts One Mark Question with Answer

Published on: 28/08/2019

Company Accounts

Download Tamil Nadu 12th Standard Accountancy question papers, model tests, one-mark questions, important questions, and public exam papers in PDF format. Free study materials and answer keys for TN State Board students.

Questions + Answers key

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Std: 12th Standard - Accountancy

chapter: - Model Question paper

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Questions:

Multiple Choice Question

10 x 1 = 10

Authorised capital is also known as ____________

(a)

paid up capital

(b)

called up capital

(c)

nominal capital

(d)

subscribed capital

Equity shares are also known as

(a)

authorised capital

(b)

issued capital

(c)

subscribed capital

(d)

ordinary shares

Equity shares do not enjoy any ___________

(a)

Equity rights

(b)

Preference rights

(c)

Dividend of rights

(d)

Ordinary shares

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

Company is a voluntary association of persons which has separate ___________

(a)

legal entity

(b)

voluntary association

(c)

common seal

(d)

limited liability

Profits are distributed among the shareholders in the form of ___________

(a)

(b)

dividends

(c)

both

(d)

none of these

The money raised by issuing shares is called

(a)

Share capital

(b)

Dividend

(c)

Equity capital

(d)

Share application

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

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

10.

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