Company Accounts

Share Capital

Easy

common

Match List-I with List-II

List-I List-II
(A) Calls in advance (I) The maximum number of members is 200.
(B) Calls in arrears (II) 12 %
(C) Private company (III) 10 %
(D) Public company (IV) No limit on the maximum number of members.

Choose the correct answer from the options given below:

List-I	List-II
(A) Calls in advance	(I) The maximum number of members is 200.
(B) Calls in arrears	(II) 12 %
(C) Private company	(III) 10 %
(D) Public company	(IV) No limit on the maximum number of members.

(A) - (I), (B) - (II), (C) - (III), (D) - (IV)

(A) - (II), (B) - (III), (C) - (I), (D) - (IV)

(A) - (I), (B) - (II), (C) - (IV), (D) - (III)

(A) - (III), (B) - (IV), (C) - (I), (D) - (II)

✅ Correct Option: 2

Looking at each item from List-I and matching with List-II:

Calls in Advance (A): When shareholders pay for shares before the amount is actually called by the company, interest is payable to them. The maximum rate of interest on calls in advance is 12% per annum as per the Companies Act provisions.

→ Matches with (II)

Calls in Arrears (B): When shareholders fail to pay the called amount on due date, the company charges interest on such unpaid amounts. The maximum rate of interest on calls in arrears is 10% per annum (unless Articles specify otherwise).

→ Matches with (III)

Private Company (C): A private company is restricted in terms of membership. The maximum number of members is 200 (excluding current and former employees who are members), along with other restrictions like prohibition on transfer of shares and invitation to public for share subscription.

→ Matches with (I)

Public Company (D): A public company faces no restriction on membership size. It can have any number of members, and there is no limit on the maximum number of members. The minimum is 7 members, but no upper ceiling exists.

→ Matches with (IV)

The correct matching is:

(A) - (II)
(B) - (III)
(C) - (I)
(D) - (IV)

Option 2 is correct.

2026: 6 June Shift 1

In case of company limited by shares, the liability of members is:

2025: 15 May Shift 1

Securities Premium Account can be used only for the following purposes:

(A) To issue partly paid bonus shares to the extent not exceeding unissued share capital of the company;

(B). Buy back of own shares.

(C). To write-off the expenses of, or commission paid, or discount allowed on any securities of the company;

(D). To pay premium on the redemption of preference shares or debentures of the company.

Choose the correct answer from the options given below:

2022: 30 Aug Shift 2

The process of issuing shares to a vendor in exchange of any asset is known as:

2025: 3 June Shift 1

Shares can be forfeited :

2026: 23 May Shift 2

JK Limited purchased building from Sumit Ltd. for Rs.6,60,000 and the payment is to be made by the issue of shares of Rs.100 each at a premium of Rs.20. The number of shares to be issued to Sumit Ltd. will be:

2025: 14 May Shift 1

A company failed to receive Rs 2,00,000 on First and final Call. Interest on calls in arrears is charged according to 'Table F' at:

Match List-I with List-II List-IList-II(A) Calls in advance(I) The maximum number of members is 200.(B) Calls in arrears(II) 12 %(C) Private company(III) 10 %(D) Public company(IV) No limit on the maximum number of members. Choose the correct answer from the options given below:

Solution

Related questions:

Keyboard Shortcuts

CUET Accountancy Past Year Questions (Topic-Wise)

Match List-I with List-II

List-I List-II
(A) Calls in advance (I) The maximum number of members is 200.
(B) Calls in arrears (II) 12 %
(C) Private company (III) 10 %
(D) Public company (IV) No limit on the maximum number of members.

Choose the correct answer from the options given below: