Class XII

Following Entry takes place when: Bank A/c Dr. To Share Application A/c
  1. Application money is refunded
  2. Application money is received
  3. Application money is adjusted
  4. Both Application money is adjusted and Application money is refunded
What is the limit of Securities Premium on the issue of shares?
  1. 6%
  2. Unlimited
  3. 10%
  4. 20%
Discount on Reissue of shares cannot be more than the _________
  1. Called up amount
  2. Forfeited Amount
  3. Amount not received on allotment
  4. Face value of share
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
When will you record the following entry? Share Applications A/c To Bank A/c
  1. When Application money is received
  2. When Company pays to the Applicants
  3. When Full amount is received on application
  4. When Application money is refunded
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