CUET Accountancy - Company Accounts - Share Capital | Free Questions

Q1:

4 June Shift 2

Company Accounts

>

Medium

Common

Q1:

Discount on issue of shares account.

Loss on issue of shares account.

Share Forfeiture Account.

Premium on issue of shares account.

Correct Answer

Option 3

Correct Answer

Explanation →

Q2:

4 June Shift 2

Company Accounts

>

Medium

Common

Q2:

Will be debited by the issue price of the shares forfeited.

Will be debited by the face value of the shares forfeited.

Will be debited by the called up value of the shares forfeited.

Will be credited by the issue price of the shares forfeited.

Correct Answer

Option 3

Correct Answer

Explanation →

Q3:

4 June Shift 2

Company Accounts

>

Easy

Common

Q3:

preliminary expenses payable by the company and any commission payable in connection with the issue of shares

working capital

personal needs of shareholders

any other expenditure required for the usual conduct of business operations.

Correct Answer

Option 3

Correct Answer

Explanation →

Q4:

4 June Shift 2

Company Accounts

>

Medium

Common

Q4:

Rs. 4,800

Rs. 8,400

Rs. 7,200

Zero

Correct Answer

Option 3

Correct Answer

Explanation →

Q5:

4 June Shift 2

Company Accounts

>

Easy

Common

Q5:

41

42

43

44

Correct Answer

Option 3

Correct Answer

Explanation →

Q6:

4 June Shift 2

Company Accounts

>

Easy

Common

Q6:

Revenue profit

Capital profit

Income

Operating profit

Correct Answer

Option 2

Correct Answer

Explanation →

Q7:

4 June Shift 2

Company Accounts

>

Medium

Common

Q7:

Shares Forfeiture A/c Dr. 3,500

To Capital Reserve A/c 3,500

Shares Forfeiture A/c Dr. 6,500

To Capital Reserve A/c 6,500

Shares Forfeiture A/c Dr. 4,500

To Capital Reserve A/c 4,500

Shares Forfeiture A/c Dr. 10,500

To Capital Reserve A/c 10,500

Correct Answer

Option 3

Correct Answer

Explanation →

Q8:

4 June Shift 2

Company Accounts

>

Easy

Common

Q8:

100

200

300

unlimited

Correct Answer

Option 2

Correct Answer

Explanation →

Q9:

4 June Shift 2

Company Accounts

>

Easy

Common

Q9:

General Reserve

Capital Redemption Reserve

Capital Reserve

Reserve Capital

Correct Answer

Option 3

Correct Answer

Explanation →

Q10:

4 June Shift 2

Company Accounts

>

Medium

Common

Q10:

(A) and (B) only

(A) and (C) only

(A), (B), and (C)

(C) only

Correct Answer

Option 3

Correct Answer

Explanation →

Q11:

4 June Shift 2

Company Accounts

>

Medium

Common

Q11:

Rs. 60,000

Rs. 30,000

Zero

Rs. 15,000

Correct Answer

Option 3

Correct Answer

Explanation →

Q12:

4 June Shift 2

Company Accounts

>

Easy

Common

Q12:

Separate legal entity

Common seal

Limited Liability

Unlimited Liability

Correct Answer

Option 4

Correct Answer

Explanation →

Q13:

4 June Shift 2

Company Accounts

>

Easy

Common

Q13:

for failure to repay the loan to the bank

for failure to attend meetings

for non-payment of call money

for issue of shares for consideration other than cash

Correct Answer

Option 3

Correct Answer

Explanation →

Q14:

3 June Shift 2

Company Accounts

>

Easy

Common

Q14:

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

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

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

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

Correct Answer

Option 4

Correct Answer

Explanation →

Q15:

3 June Shift 2

Company Accounts

>

Medium

Common

Q15:

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

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

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

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

Correct Answer

Option 4

Correct Answer

Explanation →

Q16:

3 June Shift 2

Company Accounts

>

Easy

Common

Q16:

For Call Amount Due

Share Call A/c Dr.

To Share Call A/c

(Call money due on __Shares @ Rs. ___ per share)

For Receipt of Call Amount

Bank A/c Dr.

To Share Capital A/c

(Call money received)

For Call Amount Due

Share Call A/c Dr.

To Share Capital A/c

(Call money due on __Shares @ Rs. ___ per share)

For Receipt of Call Amount

Bank A/c Dr.

To Share Call A/c

(Call money received)

For Call Amount Due

Bank A/c Dr.

To Share Capital A/c

(Call money due on __Shares @ Rs. ___ per share)

For Receipt of Call Amount

Share Call A/c Dr.

To Share Call A/c

(Call money received)

For Call Amount Due

Share Capital A/c Dr.

To Share Call A/c

(Call money received)

For Receipt of Call Amount

Bank A/c Dr.

To Share Call A/c

(Call money due on __Shares @ Rs. ___ per share)

Correct Answer

Option 2

Correct Answer

Explanation →

Q17:

3 June Shift 2

Company Accounts

>

Easy

Common

Q17:

15 days

Atleast three months

Atleast two months

Atleast one month

Correct Answer

Option 4

Correct Answer

Explanation →

Q18:

3 June Shift 2

Company Accounts

>

Medium

Common

Q18:

Adjusted towards the amount due on the allotment of shares allotted

Refunded or credited to calls in advance.

Refunded money in full

Refunded or credited to Calls in Arrears

Correct Answer

Option 2

Correct Answer

Explanation →

Q19:

3 June Shift 2

Company Accounts

>

Medium

Common

Q19:

Subscribed and fully paid up Share Capital

Subscribed but not fully paid up Share Capital

Issued Share Capital and Un-issued Share Capital

Registered Share Capital and Issued Share Capital

Correct Answer

Option 4

Correct Answer

Explanation →

Q20:

3 June Shift 2

Company Accounts

>

Easy

Common

Q20:

Current liabilities and provisions

Reserves and surpluses

Share capital

Unsecured loan

Correct Answer

Option 3

Correct Answer

Explanation →

Q21:

3 June Shift 2

Company Accounts

>

Easy

Common

Q21:

General Reserve

Capital redemption reserve

Capital reserve

Preference shares

Correct Answer

Option 3

Correct Answer

Explanation →

Q22:

3 June Shift 2

Company Accounts

>

Easy

Common

Q22:

(A), (B), (C), (D), (E)

(A), (C), (B), (E), (D)

(B), (A), (D), (C), (E)

(C), (E), (B), (D), (A)

Correct Answer

Option 3

Correct Answer

Explanation →

Q23:

3 June Shift 1

Company Accounts

>

Easy

Common

Q23:

(A), (B) and (D) only

(A), (B) and (C) only

(A), (B), (C) and (D)

(B), (C) and (D) only

Correct Answer

Option 4

Correct Answer

Explanation →

Q24:

3 June Shift 1

Company Accounts

>

Medium

Common

Q24:

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

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

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

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

Correct Answer

Option 4

Correct Answer

Explanation →

Q25:

3 June Shift 1

Company Accounts

>

Easy

Common

Q25:

(A), (B), (C), (D)

(C), (A), (B), (D)

(B), (A), (D), (C)

(C), (B), (D), (A)

Correct Answer

Option 2

Correct Answer

Explanation →

Q26:

3 June Shift 1

Company Accounts

>

Easy

Common

Q26:

It is a portion of uncalled share capital and can be called only in the event of winding up of a company.

It is a portion of uncalled share capital and can be called at any time during the lifetime of a company.

It is a portion of un-paid share capital and can be called only in the event of winding up of a company.

It is a portion of un-subscribed share capital and can be called at any time during the lifetime of a company.

Correct Answer

Option 1

Correct Answer

Explanation →

Q27:

3 June Shift 1

Company Accounts

>

Medium

Common

Q27:

(A), (B), (C), (D)

(B), (D), (A), (C)

(B), (A), (D), (C)

(C), (B), (D), (A)

Correct Answer

Option 2

Correct Answer

Explanation →

Q28:

3 June Shift 1

Company Accounts

>

Easy

Common

Q28:

That part of the authorised capital which is issued by the company.

The amount of capital which is actually applied for by the prospective shareholders.

The maximum amount of share capital which a company is authorized to issue.

The amount actually paid by the shareholders.

Correct Answer

Option 3

Correct Answer

Explanation →

Q29:

3 June Shift 1

Company Accounts

>

Easy

Common

Q29:

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

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

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

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

Correct Answer

Option 3

Correct Answer

Explanation →

Q30:

3 June Shift 1

Company Accounts

>

Easy

Common

Q30:

5000 shares

6000 shares

10000 shares

600000 shares

Correct Answer

Option 1

Correct Answer

Explanation →

Q31:

3 June Shift 1

Company Accounts

>

Medium

Common

Q31:

Authorised Share Capital and Un-issued Share Capital.

Un-issued Share Capital and Un-called up Share Capital.

Authorised Share Capital and Un-called up Share Capital.

Authorized Share Capital and Issued Share Capital.

Correct Answer

Option 4

Correct Answer

Explanation →

Q32:

3 June Shift 1

Company Accounts

>

Medium

Common

Q32:

not been called-up on forfeited shares at the time of initial issue.

been called-up on forfeited shares at the time of initial issue.

not been received on forfeited shares at the time of initial issue.

been received on forfeited shares at the time of initial issue.

Correct Answer

Option 4

Correct Answer

Explanation →

Q33:

3 June Shift 1

Company Accounts

>

Medium

Common

Q33:

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

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

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

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

Correct Answer

Option 4

Correct Answer

Explanation →

Q34:

3 June Shift 1

Company Accounts

>

Easy

Common

Q34:

10%

12%

14.5%

11%

Correct Answer

Option 1

Correct Answer

Explanation →

Q35:

3 June Shift 1

Company Accounts

>

Easy

Common

Q35:

for non-payment of call money

for failure to attend meetings

for failure to repay the loan to the bank

for which shares are pledged as a security

Correct Answer

Option 1

Correct Answer

Explanation →

Q36:

2 June Shift 2

Company Accounts

>

Easy

Common

Q36:

Current assets.

A deduction from the paid up capital.

Current liability.

Reserve and surplus.

Correct Answer

Option 2

Correct Answer

Explanation →

Q37:

2 June Shift 2

Company Accounts

>

Easy

Common

Q37:

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

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

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

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

Correct Answer

Option 3

Correct Answer

Explanation →

Q38:

2 June Shift 2

Company Accounts

>

Easy

Common

Q38:

5000 shares

6000 shares

10000 shares

60000 shares

Correct Answer

Option 1

Correct Answer

Explanation →

Q39:

2 June Shift 2

Company Accounts

>

Medium

Common

Q39:

Rs.250.

Rs.50.

Rs.100.

Rs.150.

Correct Answer

Option 3

Correct Answer

Explanation →

Q40:

2 June Shift 2

Company Accounts

>

Easy

Common

Q40:

If shares are fully called up and there are Calls in Arrears

If shares are fully called up and there are no Calls in Arrears

If shares are partly called up and there are no Calls in Arrears

If shares are partly called up and there are Calls in Arrears

Correct Answer

Option 2

Correct Answer

Explanation →

Q41:

2 June Shift 2

Company Accounts

>

Medium

Common

Q41:

10

8

11

7

Correct Answer

Option 4

Correct Answer

Explanation →

Q42:

2 June Shift 2

Company Accounts

>

Medium

Common

Q42:

(A), (B), (C), (D)

(A), (B), (D), (C)

(B), (A), (D), (C)

(C), (B), (D), (A)

Correct Answer

Option 4

Correct Answer

Explanation →

Q43:

2 June Shift 2

Company Accounts

>

Easy

Common

Q43:

A kind of capital reseve.

Part of called up capital.

Part of the subscribed capital decided not to be called up except in the event of winding up.

Part of capital not yet issued.

Correct Answer

Option 3

Correct Answer

Explanation →

Q44:

2 June Shift 2

Company Accounts

>

Medium

Common

Q44:

(A), (B) and (D) only

(A), (B) and (C) only

(A), (B), (C) and (D)

(B), (C) and (D) only

Correct Answer

Option 1

Correct Answer

Explanation →

Q45:

2 June Shift 2

Company Accounts

>

Easy

Common

Q45:

Shares are allotted only when the company receives the subscription and application money on minimum subscription as stated in the prospectus.

Shares are allotted to all applicants without considering anything.

All the issued shares are allotted to all applicants proportionally.

The Issue Is Closed And Application Money Is Refunded.

Correct Answer

Option 1

Correct Answer

Explanation →

Q46:

2 June Shift 2

Company Accounts

>

Easy

Computerised accounting

Q46:

(A), (B) and (D) only

(A), (B) and (C) only

(A), (B), (C) and (D)

(B), (C) and (D) only

Correct Answer

Option 4

Correct Answer

Explanation →

Q47:

31 May Shift 1

Company Accounts

>

Easy

Common

Q47:

12%

6%

10%

8%

Correct Answer

Option 1

Correct Answer

Explanation →

Q48:

31 May Shift 1

Company Accounts

>

Easy

Common

Q48:

3000 Shares

3500 Shares

3600 Shares

3200 Shares

Correct Answer

Option 3

Correct Answer

Explanation →

Q49:

31 May Shift 1

Company Accounts

>

Easy

Common

Q49:

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

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

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

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

Correct Answer

Option 2

Correct Answer

Explanation →

Q50:

31 May Shift 1

Company Accounts

>

Easy

Common

Q50:

Share Capital

Reserve and Surplus

Non-current Liabilities

Current Liabilities

Correct Answer

Option 1

Correct Answer

Explanation →

Q51:

31 May Shift 1

Company Accounts

>

Easy

Common

Q51:

Par

Premium

Discount

Amount higher then its face value.

Correct Answer

Option 3

Correct Answer

Explanation →

Q52:

31 May Shift 1

Company Accounts

>

Medium

Common

Q52:

Will be debited by the issue price of the shares forfeited.

Will be debited by the face value of the shares forfeited.

Will be debited by the called up value of the shares forfeited.

Will be credited by the issue price of the shares forfeited.

Correct Answer

Option 3

Correct Answer

Explanation →

Q53:

31 May Shift 1

Company Accounts

>

Easy

Common

Q53:

General reserve

Capital redemption reserve

Capital reserve

Reserve capital

Correct Answer

Option 3

Correct Answer

Explanation →

Q54:

31 May Shift 1

Company Accounts

>

Medium

Common

Q54:

Share Capital A/c Dr. 5, 000

Securities Premium A/c Dr. 1,000

To Share Allotment A/c 2,000

To Share first and final Call A/c 2,500

To Share Forfeiture A/c 1,500

Share Capital Reserve A/c Dr. 5,000

Securities Premium A/c Dr. 1,000

To Share Allotment A/c 4,000

To Share Forfeiture A/c 2,000

Share Capital A/c Dr. 5, 000

Securities Premium A/c Dr. 1,000

To Share Allotment A/c 2,000

To Share Forfeiture A/c 4,000

Share Capital A/c Dr. 5, 000

Securities Premium A/c Dr. 1,000

To Share Allotment A/c 2,000

To Share first and final Call A/c 1,500

To Share Forfeiture A/c 2,500

Correct Answer

Option 4

Correct Answer

Explanation →

Q55:

31 May Shift 1

Company Accounts

>

Easy

Common

Q55:

Debited to calls in advance account

Credited to calls in advance account

Debited to calls account

Credited to calls account

Correct Answer

Option 2

Correct Answer

Explanation →

Q56:

31 May Shift 1

Company Accounts

>

Easy

Common

Q56:

(B), (C), (A), (D)

(B), (D), (A), (C)

(B), (A), (D), (C)

(C), (B), (D), (A)

Correct Answer

Option 1

Correct Answer

Explanation →

Q57:

31 May Shift 1

Company Accounts

>

Easy

Common

Q57:

(A), (B) and (D) only

(A), (B) and (C) only

(A), (B), (C) and (D)

(B), (C) and (D) only

Correct Answer

Option 1

Correct Answer

Explanation →

Q58:

30 May Shift 2

Company Accounts

>

Easy

Common

Q58:

for non-payment of call money

for failure to attend meetings

for failure to repay the loan to the bank

for which shares are pledged as a security

Correct Answer

Option 1

Correct Answer

Explanation →

Q59:

30 May Shift 2

Company Accounts

>

Easy

Common

Q59:

3600

3200

3000

3800

Correct Answer

Option 3

Correct Answer

Explanation →

Q60:

30 May Shift 2

Company Accounts

>

Medium

Common

Q60:

(A), (B), (C), (D)

(D), (C), (A), (B)

(B), (A), (D), (C)

(C), (B), (D), (A)

Correct Answer

Option 2

Correct Answer

Explanation →

Q61:

30 May Shift 2

Company Accounts

>

Easy

Common

Q61:

Debited to the 'Discount on issue of Share Account'

Credited to the 'Share Forfeiture Account'

Credited to the 'Discount on issue of Share Account'

Debited to the 'Share Forfeiture Account'

Correct Answer

Option 4

Correct Answer

Explanation →

Q62:

30 May Shift 2

Company Accounts

>

Medium

Common

Q62:

(A), (B) and (C) only

(A), (B) and (D) only

(A), (B), (C) and (D)

(B), (C) and (D) only

Correct Answer

Option 1

Correct Answer

Explanation →

Q63:

30 May Shift 2

Company Accounts

>

Medium

Common

Q63:

Equity Shares cannot be issued at Discount.

Equity Shares can be re-issued at Discount.

Equity Shares cannot be issued at premium.

Equity Shares cannot be re-issued at premium

Correct Answer

Option 2

Correct Answer

Explanation →

Q64:

30 May Shift 2

Company Accounts

>

Easy

Common

Q64:

(A), (B) and (D) only

(A), (C) and (D) only

(A), (B), (C) and (D)

(B), (C) and (D) only

Correct Answer

Option 2

Correct Answer

Explanation →

Q65:

30 May Shift 2

Company Accounts

>

Easy

Common

Q65:

(A), (B), (C), (D)

(A), (B), (D), (C)

(D), (A), (B), (C)

(C), (B), (D), (A)

Correct Answer

Option 3

Correct Answer

Explanation →

Q66:

30 May Shift 2

Company Accounts

>

Medium

Common

Q66:

The amount already called up at the time of forfeiture.

The amount of calls in arrear at the time of forfeiture.

The amount of calls in advance at the time of forfeiture.

The amount already received at the time of forfeiture.

Correct Answer

Option 4

Correct Answer

Explanation →

Q67:

30 May Shift 2

Company Accounts

>

Medium

Common

Q67:

Bank A/c Dr.

Calls in Arrears A/c Dr.

To Share First Call A/c

Bank A/c Dr.

To Calls in Arrears A/c

Calls in Arrears A/c Dr.

To Share First Call A/c

Share First Call A/c Dr.

To Calls in Arrears A/c

Correct Answer

Option 1

Correct Answer

Explanation →

Q68:

30 May Shift 2

Company Accounts

>

Easy

Common

Q68:

The amount actually paid by the shareholders

The maximum amount of share capital which a company is authorised to issue.

The amount of capital which is actually applied for by the prospective shareholders.

That part of the authorized capital which is issued by the company.

Correct Answer

Option 2

Correct Answer

Explanation →

Q69:

30 May Shift 1

Company Accounts

>

Easy

Common

Q69:

These shares can only be re-issued at a premium.

These shares can only be re-issued at par.

These shares can only be re-issued at a discount.

These shares can either be cancelled or can be re-issued.

Correct Answer

Option 4

Correct Answer

Explanation →

Q70:

30 May Shift 1

Company Accounts

>

Easy

Common

Q70:

Un-issued Share Capital

Un-subscribed Share Capital

Un-paid Share Capital

Uncalled Share Capital

Correct Answer

Option 4

Correct Answer

Explanation →

Q71:

30 May Shift 1

Company Accounts

>

Medium

Common

Q71:

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

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

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

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

Correct Answer

Option 4

Correct Answer

Explanation →

Q72:

30 May Shift 1

Company Accounts

>

Easy

Common

Q72:

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

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

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

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

Correct Answer

Option 2

Correct Answer

Explanation →

Q73:

30 May Shift 1

Company Accounts

>

Easy

Common

Q73:

Participating Preference Shares

Cumulative Preference Shares

Irredeemable Preference Shares

Convertible Preference Shares

Correct Answer

Option 4

Correct Answer

Explanation →

Q74:

30 May Shift 1

Company Accounts

>

Easy

Common

Q74:

10% per annum.

12% per annum.

11% per annum.

15% per annum.

Correct Answer

Option 2

Correct Answer

Explanation →

Q75:

30 May Shift 1

Company Accounts

>

Easy

Common

Q75:

(A), (B), (C), (D)

(D), (C), (B), (A)

(B), (A), (D), (C)

(C), (B), (D), (A)

Correct Answer

Option 2

Correct Answer

Explanation →

Q76:

30 May Shift 1

Company Accounts

>

Easy

Common

Q76:

The amount already called up at the time of forfeiture.

The amount of calls in arrear at the time of forfeiture.

The amount of calls in advance at the time of forfeiture.

The amount already received at the time of forfeiture.

Correct Answer

Option 4

Correct Answer

Explanation →

Q77:

30 May Shift 1

Company Accounts

>

Easy

Common

Q77:

5,500 shares

5,400 shares

4,400 shares

4,500 shares

Correct Answer

Option 4

Correct Answer

Explanation →

Q78:

30 May Shift 1

Company Accounts

>

Easy

Common

Q78:

The amount actually paid by the shareholders

The maximum amount of share capital which a company is authorised to issue.

The amount of capital which is actually applied for by the prospective shareholders.

That part of the authorized capital which is issued by the company.

Correct Answer

Option 2

Correct Answer

Explanation →

Q79:

30 May Shift 1

Company Accounts

>

Medium

Common

Q79:

(C), (D), (B), (A)

(A), (B), (C), (D)

(B), (A), (D), (C)

(C), (B), (D), (A)

Correct Answer

Option 2

Correct Answer

Explanation →

Q80:

30 May Shift 1

Company Accounts

>

Easy

Common

Q80:

Unsecured loans

Share capital

Reserves and surpluses

Current liabilities and provisions

Correct Answer

Option 2

Correct Answer

Explanation →

Q81:

29 May Shift 2

Company Accounts

>

Easy

Common

Q81:

Amount Payable / Application money

Amount Receivable / Allotment price

Amount Payable / Issue Price

Amount Receivable / Issue Price

Correct Answer

Option 3

Correct Answer

Explanation →

Q82:

29 May Shift 2

Company Accounts

>

Easy

Common

Q82:

Security premium account

Statement of profit and loss

General reserve

Capital reserve

Correct Answer

Option 4

Correct Answer

Explanation →

Q83:

29 May Shift 2

Company Accounts

>

Medium

Common

Q83:

Subscribed Share Capital is shown in Balance Sheet, and included in the total with Authorised share capital of the company.

Subscribed Share Capital is shown in Notes to Accounts, and included in the total of Balance Sheet.

Subscribed Share Capital is shown in Balance Sheet, but not included in the total of Balance Sheet.

Subscribed Share Capital is shown in Notes to Accounts, but not included in the total of Balance Sheet.

Correct Answer

Option 2

Correct Answer

Explanation →

Q84:

29 May Shift 2

Company Accounts

>

Easy

Common

Q84:

Respective call A/c, Calls in Advance A/c

Share Capital A/c, Respective Call A/c

Calls in Advance A/c, Bank A/c

Calls in Advance A/c, Respective Call A/c

Correct Answer

Option 1

Correct Answer

Explanation →

Q85:

29 May Shift 2

Company Accounts

>

Medium

Common

Q85:

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

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

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

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

Correct Answer

Option 2

Correct Answer

Explanation →

Q86:

29 May Shift 2

Company Accounts

>

Medium

Common

Q86:

Profit on forfeiture plus loss on reissue of forfeited share.

Amount of securities premium debited on forfeiture.

Profit on forfeiture minus loss on reissue of forfeited share,

Balance of amount not yet called.

Correct Answer

Option 3

Correct Answer

Explanation →

Q87:

29 May Shift 2

Company Accounts

>

Medium

Common

Q87:

Only (A)

Only (A), (B) and (C)

Only (A) and (B)

Only (B)

Correct Answer

Option 2

Correct Answer

Explanation →

Q88:

29 May Shift 2

Company Accounts

>

Easy

Common

Q88:

Debited by the issue price of the number of the shares forfeited.

Debited by the face value of the number of the shares forfeited.

Debited by the called up value of the number of the shares forfeited.

Credited by the issue price of the number of the shares forfeited.

Correct Answer

Option 3

Correct Answer

Explanation →

Q89:

29 May Shift 2

Company Accounts

>

Medium

Common

Q89:

Share capital account.

Capital reserve account.

Securities premium account.

Calls in arrears account.

Correct Answer

Option 2

Correct Answer

Explanation →

Q90:

29 May Shift 2

Company Accounts

>

Medium

Common

Q90:

period of 3 months must elapse between two calls

a minimum of 21 days notice is given to the shareholders to pay the amount.

a minimum of 14 days notice is given to the shareholders to pay the amount

the amount of call should be more than 25% of the face value of the share.

Correct Answer

Option 3

Correct Answer

Explanation →

Q91:

29 May Shift 2

Company Accounts

>

Medium

Common

Q91:

Share are issued at premium and calls in arrears include premium.

Share are issued at premium and calls in arrears do not include premium.

Shares are issued at par and calls in arrears include premium.

Share are issued at par and calls in arrears do not include premium.

Correct Answer

Option 1

Correct Answer

Explanation →

Q92:

29 May Shift 2

Company Accounts

>

Easy

Common

Q92:

11%, p.a.

10% p.m.

10% p.a

12% p a.

Correct Answer

Option 3

Correct Answer

Explanation →

Q93:

29 May Shift 2

Company Accounts

>

Medium

Common

Q93:

(A), (B) and (D) only

(A), (B) and (C) only

(A), (B), (C) and (D)

(B), (C) and (D) only

Correct Answer

Option 2

Correct Answer

Explanation →

Q94:

27 May Shift 2

Company Accounts

>

Easy

Common

Q94:

Allotment Money

Call Money

Application Money

Any of these

Correct Answer

Option 4

Correct Answer

Explanation →

Q95:

27 May Shift 2

Company Accounts

>

Easy

Common

Q95:

Re-issue of Shares

Buy-back of Shares

Bonus Issue of Shares

Forfeiture of Shares.

Correct Answer

Option 2

Correct Answer

Explanation →

Q96:

27 May Shift 2

Company Accounts

>

Easy

Common

Q96:

(A), (B) and (D) only

(A), (B) and (C) only

(A), (B), (C) and (D)

(B), (C) and (D) only

Correct Answer

Option 4

Correct Answer

Explanation →

Q97:

27 May Shift 2

Company Accounts

>

Medium

Common

Q97:

(A), (B), (C), (D)

(A), (B), (D), (C)

(B), (A), (D), (C)

(C), (B), (D), (A)

Correct Answer

Option 4

Correct Answer

Explanation →

Q98:

27 May Shift 2

Company Accounts

>

Medium

Common

Q98:

(A), (B) and (C) only

(A), (B) and (D) only

(A), (B), (C) and (D)

(B), (C) and (D) only

Correct Answer

Option 1

Correct Answer

Explanation →

Q99:

27 May Shift 2

Company Accounts

>

Medium

Common

Q99:

Debited with the called up amount (including premium)

Debited with the face value amount (including premium)

Debited with the face value amount (excluding premium)

Debited with the called up amount (excluding premium)

Correct Answer

Option 4

Correct Answer

Explanation →

Q100:

27 May Shift 2

Company Accounts

>

Easy

Common

Q100:

For failure to attend meetings

For failure to repay the loan to the bank

For which shares are pledged as a security

For non-payment of call money

Correct Answer

Option 4

Correct Answer

Explanation →

Q101:

27 May Shift 2

Company Accounts

>

Easy

Common

Q101:

Share capital

Reserves and surpluses

Unsecured loans

Current liabilities and provisions

Correct Answer

Option 1

Correct Answer

Explanation →

Q102:

27 May Shift 2

Company Accounts

>

Medium

Common

Q102:

(A), (B), (C), (D)

(A), (D), (C), (B)

(B), (D), (A), (C)

(C), (B), (D), (A)

Correct Answer

Option 3

Correct Answer

Explanation →

Q103:

27 May Shift 1

Company Accounts

>

Easy

Common

Q103:

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

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

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

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

Correct Answer

Option 1

Correct Answer

Explanation →

Q104:

27 May Shift 1

Company Accounts

>

Easy

Common

Q104:

Rs 300

Rs 150

Rs 200

Rs 250

Correct Answer

Option 4

Correct Answer

Explanation →

Q105:

27 May Shift 1

Company Accounts

>

Medium

Common

Q105:

To write-off the expenses of preliminary expenses of the company

To issue fully paid bonus shares

To pay off the purchase consideration.

To write off discount on issue of debentures.

Correct Answer

Option 3

Correct Answer

Explanation →

Q106:

27 May Shift 1

Company Accounts

>

Medium

Common

Q106:

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

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

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

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

Correct Answer

Option 2

Correct Answer

Explanation →

Q107:

27 May Shift 1

Company Accounts

>

Easy

Common

Q107:

(B), (A), (C), (D)

(B), (C), (D), (A)

(B), (A), (D), (C)

(C), (B), (D), (A)

Correct Answer

Option 2

Correct Answer

Explanation →

Q108:

27 May Shift 1

Company Accounts

>

Easy

Common

Q108:

Current liabilities and provisions

Reserves and surplus

Share capital

Unsecured Loan

Correct Answer

Option 3

Correct Answer

Explanation →

Q109:

27 May Shift 1

Company Accounts

>

Medium

Common

Q109:

Restricts the right to transfer its shares

A private company must have at least 2 persons, except in case of one person company

Its paid up share capital is not more than Rs. 50 Lakhs

Limits the number of its members to 200 (excluding its employees)

Correct Answer

Option 3

Correct Answer

Explanation →

Q110:

27 May Shift 1

Company Accounts

>

Medium

Common

Q110:

Rs 5400

Rs 6000

Rs 4500

Rs 9000

Correct Answer

Option 3

Correct Answer

Explanation →

Q111:

27 May Shift 1

Company Accounts

>

Medium

Common

Q111:

(B) and (D) only

(A), (B) and (D) only

(B), (C) and (D) only

(C) and (D) only

Correct Answer

Option 4

Correct Answer

Explanation →

Q112:

26 May Shift 2

Company Accounts

>

Easy

Common

Q112:

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

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

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

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

Correct Answer

Option 1

Correct Answer

Explanation →

Q113:

26 May Shift 2

Company Accounts

>

Easy

Common

Q113:

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

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

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

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

Correct Answer

Option 3

Correct Answer

Explanation →

Q114:

26 May Shift 2

Company Accounts

>

Easy

Common

Q114:

A company is an artificial person.

Company's shares are generally transferable.

Every member of a company is entitled to take part in its management.

The director of a company is always a shareholder.

Correct Answer

Option 3,4

Correct Answer

Explanation →

Q115:

26 May Shift 2

Company Accounts

>

Medium

Common

Q115:

9%, Rs 750

10%, Rs 833

11%, Rs 917

12%, Rs 1000

Correct Answer

Option 4

Correct Answer

Explanation →

Q116:

26 May Shift 2

Company Accounts

>

Easy

Common

Q116:

Current liabilities and provisions

Reserves and surpluses

Share capital

Unsecured loans

Correct Answer

Option 3

Correct Answer

Explanation →

Q117:

26 May Shift 2

Company Accounts

>

Medium

Common

Q117:

Share Forfeiture A/c will be credited with 1,00,000

Share Forfeiture A/c will be debited with 1,00,000

Share Forfeiture A/c will be credited with 80,000

Share Forfeiture A/c will be debited with 80,000

Correct Answer

Option 3

Correct Answer

Explanation →

Q118:

26 May Shift 2

Company Accounts

>

Easy

Common

Q118:

100

120

140

160

Correct Answer

Option 2

Correct Answer

Explanation →

Q119:

26 May Shift 2

Company Accounts

>

Easy

Common

Q119:

general reserve

capital redemption reserve

capital reserve

reserve capital

Correct Answer

Option 3

Correct Answer

Explanation →

Q120:

24 May Shift 1

Company Accounts

>

Easy

Common

Q120:

50 Lakhs

2 Crore

10 lakhs

1 crore

Correct Answer

Option 1

Correct Answer

Explanation →

Q121:

24 May Shift 1

Company Accounts

>

Easy

Common

Q121:

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

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

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

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

Correct Answer

Option 1

Correct Answer

Explanation →

Q122:

24 May Shift 1

Company Accounts

>

Medium

Common

Q122:

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

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

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

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

Correct Answer

Option 1

Correct Answer

Explanation →

Q123:

24 May Shift 1

Company Accounts

>

Easy

Common

Q123:

(A), (B), (C),(D)

(A), (C), (B),(D)

(B), (A), (C),(D)

(C), (B),(A),(D)

Correct Answer

Option 4

Correct Answer

Explanation →

Q124:

24 May Shift 1

Company Accounts

>

Medium

Common

Q124:

(A), (B) and (D) only

(A), (B) and (C) only

(A), (B), (C) and (D)

(B), (C) and (D) only

Correct Answer

Option 2

Correct Answer

Explanation →

Q125:

24 May Shift 1

Company Accounts

>

Easy

Common

Q125:

Owners

Creditors

Customers

Debtors

Correct Answer

Option 1

Correct Answer

Explanation →

Q126:

24 May Shift 1

Company Accounts

>

Easy

Common

Q126:

2 months

1 month

3 months

6 months

Correct Answer

Option 2

Correct Answer

Explanation →

Q127:

24 May Shift 1

Company Accounts

>

Medium

Common

Q127:

(A), (B), (C), (D)

(A), (C), (B), (D)

(B), (A), (D), (C)

(C), (B), (A), (D)

Correct Answer

Option 4

Correct Answer

Explanation →

Q128:

24 May Shift 1

Company Accounts

>

Medium

Common

Q128:

12

10

8

4

Correct Answer

Option 2

Correct Answer

Explanation →

Q129:

24 May Shift 1

Company Accounts

>

Easy

Common

Q129:

(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 Answer

Option 2

Correct Answer

Explanation →

Q130:

24 May Shift 1

Company Accounts

>

Easy

Common

Q130:

11%

8%

6%

10%

Correct Answer

Option 4

Correct Answer

Explanation →

Q131:

24 May Shift 1

Company Accounts

>

Easy

Common

Q131:

Unsecured loans

Share capital

Reserves and surplus

Current liabilities and provisions

Correct Answer

Option 2

Correct Answer

Explanation →

Q132:

24 May Shift 1

Company Accounts

>

Medium

Common

Q132:

(A), (B) and (C) only

(A), (C) and (D) only

(A), (B) and (D) only

(B), (C) and (D) only

Correct Answer

Option 2

Correct Answer

Explanation →

Q133:

24 May Shift 1

Company Accounts

>

Easy

Common

Q133:

30

20

15

14

Correct Answer

Option 4

Correct Answer

Explanation →

Q134:

24 May Shift 1

Company Accounts

>

Easy

Common

Q134:

20%

15%

5%

10%

Correct Answer

Option 3

Correct Answer

Explanation →

Q135:

24 May Shift 1

Company Accounts

>

Easy

Financial statements

Q135:

More than 10%

More than 5%

More than 15%

More than 20%

Correct Answer

Option 2

Correct Answer

Explanation →

Q136:

22 May Shift 2

Company Accounts

>

Easy

Common

Q136:

Debited with face value.

Credited with face value.

Debited with called up value.

Credited with called up value.

Correct Answer

Option 3

Correct Answer

Explanation →

Q137:

22 May Shift 2

Company Accounts

>

Easy

Common

Q137:

60%

90%

75%

10%

Correct Answer

Option 2

Correct Answer

Explanation →

Q138:

22 May Shift 2

Company Accounts

>

Medium

Common

Q138:

12%

18%

6 %

15%

Correct Answer

Option 4

Correct Answer

Explanation →

Q139:

22 May Shift 2

Company Accounts

>

Easy

Common

Q139:

15 days

atleast three months

atleast two months

atleast one month

Correct Answer

Option 4

Correct Answer

Explanation →

Q140:

22 May Shift 2

Company Accounts

>

Easy

Common

Q140:

Called up capital

Issued Capital

Subscribed Capital

Paid up Capital

Correct Answer

Option 1

Correct Answer

Explanation →

Q141:

22 May Shift 2

Company Accounts

>

Easy

Common

Q141:

(A), (B), (C), (D)

(C), (B), (D), (A)

(B), (A), (D), (C)

(C), (B), (A), (D)

Correct Answer

Option 4

Correct Answer

Explanation →

Q142:

22 May Shift 2

Company Accounts

>

Easy

Common

Q142:

Public company

OPC

Private Company

Holding company

Correct Answer

Option 3

Correct Answer

Explanation →

Q143:

22 May Shift 1

Company Accounts

>

Easy

Common

Q143:

Calls in Arrears Account

Calls in Advance Account

Share Call Account

Share Capital Account

Correct Answer

Option 2

Correct Answer

Explanation →

Q144:

22 May Shift 1

Company Accounts

>

Easy

Common

Q144:

preliminary expenses payable by the company and any commission payable in connection with the issue of shares

working capital

personal needs of shareholders

any other expenditure required for the usual conduct of business operations.

Correct Answer

Option 3

Correct Answer

Explanation →

Q145:

22 May Shift 1

Company Accounts

>

Medium

Common

Q145:

(A), (B), (C), (D)

(A), (C), (B), (D)

(B), (A), (D), (C)

(C), (B), (D), (A)

Correct Answer

Option 2

Correct Answer

Explanation →

Q146:

22 May Shift 1

Company Accounts

>

Easy

Common

Q146:

Vendor A/c Dr. 100000 To Bank A/c 100000

Bank A/c Dr. 100000 To Vendor A/c 100000

Share Capital A/c Dr. 100000 To Vendor A/c 100000

Vendor A/c Dr. 100000 To Share Capital A/c 100000

Correct Answer

Option 4

Correct Answer

Explanation →

Q147:

22 May Shift 1

Company Accounts

>

Easy

Common

Q147:

Subscribed Capital

Called Up Capital

Registered Capital

Issued Capital

Correct Answer

Option 3

Correct Answer

Explanation →

Q148:

22 May Shift 1

Company Accounts

>

Medium

Common

Q148:

(A) and (C) only

(A), (B) and (C) only

(A), (C) and (D) only

(C) and (D) only

Correct Answer

Option 1

Correct Answer

Explanation →

Q149:

22 May Shift 1

Company Accounts

>

Easy

Common

Q149:

Separate legal entity

Common seal

Limited Liability

Unlimited Liability

Correct Answer

Option 4

Correct Answer

Explanation →

Q150:

22 May Shift 1

Company Accounts

>

Easy

Common

Q150:

10%

12%

9%

6%

Correct Answer

Option 2

Correct Answer

Explanation →

Q151:

22 May Shift 1

Company Accounts

>

Easy

Common

Q151:

A non Private company

Public Company

Private Company

Subsidiary Company

Correct Answer

Option 3

Correct Answer

Explanation →

Q152:

22 May Shift 1

Company Accounts

>

Easy

Common

Q152:

Employee

Enterprise

Environment

Electronic

Correct Answer

Option 1

Correct Answer

Explanation →

Q153:

22 May Shift 1

Company Accounts

>

Easy

Common

Q153:

6%

8%

10%

12%

Correct Answer

Option 3

Correct Answer

Explanation →

Q154:

22 May Shift 1

CUET Accountancy Company Accounts > Share Capital PYQs

Q1:

Q1:

Q2:

Q2:

Q3:

Q3:

Q4:

Q4:

Q5:

Q5:

Q6:

Q6:

Q7:

Q7:

Q8:

Q8:

Q9:

Q9:

Q10:

Q10:

Q11:

Q11:

Q12:

Q12:

Q13:

Q13:

Q14:

Q14:

Q15:

Q15:

Q16:

Q16:

Q17:

Q17:

Q18:

Q18:

Q19:

Q19:

Q20:

Q20:

Q21:

Q21:

Q22:

Q22:

Q23:

Q23:

Q24:

Q24:

Q25:

Q25:

Q26:

Q26:

Q27:

Q27:

Q28:

Q28:

Q29:

Q29:

Q30:

Q30:

Q31:

Q31:

Q32:

Q32:

Q33:

Q33:

Q34:

Q34:

Q35:

Q35:

Q36:

Q36:

Q37:

Q37:

Q38:

Q38:

Q39:

Q39:

Q40: