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Sec. 2 (62) of the companies Act, 2013, defines OPC as a "company which has only one person as a member". Rule 3 of the Companies (Incorporation) Rules, 2014 provides that:

Over Subscription means when applications received for shares of a company are more than the number of shares offered to the public for subscription. Identify correct statements regarding over subscription.

(A) This happens in respect of the share issue of well-managed and financially strong companies.

(B) The problem of over subscription is resolved with the forfeiture of shares.

(C) In such condition, three alternatives are available to the directors to deal with the situation.

(D) The problem of over subscription is usually resolved with the allotment of shares.

Choose the correct answer from the options given below:

Capital reserves are created from _______.

For one person company, Rule 3 of the Companies (Incorporation) Rules, 2014 provides that its average annual turnover of three years does not exceed ..................

Who are entitled to share the distributable profits of the company after satisfying the dividend rights of the preference shareholders?

200 shares of Rs.100 each issued at a premium of Rs.10 were forfeited for the non-payment of allotment money of Rs.60 per share including premium. The first and final call of Rs.20 per share on these shares were not made. The forfeited shares were reissued at Rs.70 per share as fully paid-up. Find the amount of capital reserve.

Nominal share capital is ?

Arrange the following in a sequence related to the issue and redemption of shares

(A) Forfeiture of shares

(B) Reissue of shares

(C) Calls in arrears

(D) Transfer of share forfeited account balance to capital reserve A/c

Choose the correct answer from the options given below:

Minimum subscription of capital cannot be less than .................. amount according to SEBI (Disclosure and Investor Protection) Guidelines, 2000.

"Members may come and go, but the company continues. Even an atom bomb can't end a company".

Which feature of a company is highlighted in the above statement?

Raj Ltd. purchased a machine from Anuj Tech Ltd. for Rs.1,90,000. As per purchase agreement, Rs. 10,000 were paid in cash and balance by issue of shares of Rs.100 each. Find the number of shares issued to Anuj Tech Ltd., if the shares issued at 20% premium.

In addition to the purchase of own shares by a company and to issue fully paid bonus shares, for which of the following purposes security premium account balance could be used?

(A) To write-off preliminary expenses of the company.

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

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

(D) To pay the issue price of debentures.

Choose the correct answer from the options given below:

Match List-I with List-II

Choose the correct answer from the options given below:

Following is the extract of journal in BXC Ltd for Forfeiture of shares:

Which of the followings statements are true ?

(A) The number of reissued shares is 150.

(B) The number of reissued shares is 200.

(C) The number of forfeited shares is 200.

(D) The amount of share forefeited A/c transferred to capital reserve A/c will be Rs 4500.

Choose the correct answer from the options given below:

Choose the correct order of the following in the Notes to Accounts of the Balance Sheet of the company:

(A) Calls in arrear

(B) Nominal Capital

(C) Issued Capital

(D) Subscribed and fully paid up capital

Choose the correct answer from the options given below:

Which of the following is not a feature of a private company ?

The price payable by the employee for exercising the option granted in pursuance of the Employees Stock Option Plan is .

Anu Ltd. invited applications for 30,000 Shares of Rs. 100 each at a premium of Rs. 20 per share payable as follows: On Application Rs. 40 (including Rs.10 premium), On Allotment Rs. 30 (including Rs.10 premium), On First Call Rs. 30 On Second and Final Call Rs. 20

Applications were received for 40,000 shares and pro-rata allotment was made on the application for 35,000 share. Excess application money was utilised towards allotment. Raju to whom 600 shares were allotted failed to pay the allotment money and his shares were forfeited immediately after allotment.

Find the amount of allotment not paid by Raju?

Which of the following is not a feature of the company ?

The balance in 'Calls in Advance' account is shown as a separate item under the title Equity and Liabilities in the company's balance sheet under the sub head:

A shareholder holding 2500 shares of Rs. 10 each, did not pay the allotment money of Rs. 6 per share (including a premium of Rs. 2) and the first call of Rs.1 and final call of Rs. 2. Her shares were forfeited after the final call. What will be the amount of share forfeited account?

Which of the following statements are true in relation to securities premium resreve ?

(A) 'Securities Premium Account' is shown under the title 'Assets' of the company's balance sheet under the head 'Reserves and Surplus'.

(B) Securities Premium Account balance can be used to write-off preliminary expenses of the company;

(C) Securities Premium Account balance can be used to pay premium on the redemption of preference shares or debentures of the company.

(D) Securities Premium Account balance can be used to issue partly paid bonus shares to the extent not exceeding unissued share capital of the company;

Choose the correct answer from the options given below:

Which of the following are correct with respect to Rule 3 of the Companies (Incorporation) Rules, 2014 for One Person Company?

(A) Only a natural person being an Indian citizen and resident in India can form one person company.

(B) It cannot carry out non-banking financial investment activities.

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

(D) Its average annual turnover of three years does not exceed Rs. 5 Crores.

Consider the given statements below related to issue of shares and select the correct statements:

(A) The profit on the reissue of forfeited shares is not transferred to the General Reserve.

(B) Paid up capital is that portion of the called up capital which has actually been received from the shareholders.

(C) Shares can be forfeited for failure to repay the loan to the bank.

(D) Calls in Arrears are shown on the Assets side of the balance sheet.

Choose a pair of correct statements from the given options below.

A company forfeited 8,000 shares of 20 each on which application money Rs. 6 has been paid. Out of these, 4,000 shares were reissued as fully paid up and Rs. 16,000 has been transferred to capital reserve. Calculate the rate at which these shares were reissued.

6,000 shares of Rs. 30 on which Rs. 21 have been called up and Rs. 15 has been paid are forfeited. Out of these, 4,500 shares are reissued for Rs. 27 as fully paid. What is the amount to be debited to share forfeiture account at the time of reissue of shares?

Match List-I with List-II.

Choose the correct answer from the options given below:

If a share of ₹ 50, on which ₹ 40 has been paid up is forfeited, it can be reissued at the minimum price of _________.

1,200 shares of Rs.20 each were forfeited for non-payment of Rs.4 per share on first call and Rs.10 per share on final call. Share forfeiture account will be credited with ________.

Minimum subscription means subscription of shares should not be less than _______.