Class XII

How will you calculate the number of shares to be issued to the Vendor?
  1. Purchase Consideration/ Issue Price of share
  2. Purchase Consideration/ Called up capital
  3. Purchase Consideration/ Premium on share
  4. Purchase Consideration/ Face value of share
Entry for reissue of forfeited shares at discount will be
  1. Bank A/c Dr. Share Forfeiture A/c Dr. To Share Capital A/c
  2. Share Capital A/c Dr. Share Forfeited A/c Dr. To Bank A/c
  3. Bank A/c Dr. To Share Capital A/c
  4. Bank A/c Dr. Share Capital A/c Dr. To Share Forfeited A/c
When the company does not have its own Articles of Association _______
  1. Bank Account is not prepared
  2. Company cannot allot shares on pro-rata basis
  3. Table F of the Companies Act, 2013 will be applicable for public company.
  4. Company cannot make calls
Which capital is to be stated in the Memorandum of Association of a company?
  1. Called up capital
  2. Subscribed capital
  3. Issued Capital
  4. Authorised Capital
Excess money received on application should be utilized first on:
  1. Excess money received on application should be utilized first on:
  2. Calls only
  3. Premium
  4. Allotment
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LKG - 12th

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