Accountancy and Financial Management 4 MCQ Collection (Semester 4 Part 1)

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Accountancy and Financial Management IV


Accountancy and Financial Management IV


Accountancy and Financial Management 4 Second Year B.Com Sem 4 MCQ Collection


01) The capital more than which company cannot raise capital

  1. Issued capital
  2. Subscribed capital
  3. Authorised capital
  4. Paid up capital

Answer: Authorised capital

02) The maximum period within which company has to repay preference shares

  1. 10 years from date of issue
  2. 20 years from date of issue
  3. 15 years from date of issue
  4. 25 years from date of issue

Answer: 20 years from date of issue

03) Issued capital of company is a part of -----

  1. Authorised capital
  2. Subscribed capital
  3. Called up capital
  4. forfeited capital

Answer: Authorised capital

04) A company can issue shares for ----

  1. Cash only
  2. On credit only
  3. For cash and consideration other than cash
  4. For consideration other than cash only

Answer: For cash and consideration other than cash

05) Shares can be issued by public company through----

  1. Public offer only
  2. Private placement only
  3. Rights and bonus shares only
  4. All the above options

Answer: All the above options

06) When preference shares are forfeited and reissued profit is credited to----

  1. Capital reserve a/c
  2. Capital redemption reserve a/c
  3. Profit & loss a/c
  4. general reserve a/c

Answer: Capital reserve a/c

07) Preference shares can be redeemed out of 

  1. Divisible profits only
  2. Capital reserve only
  3. Divisible profit and fresh issue of shares only
  4. All the above options

Answer: Divisible profit and fresh issue of shares only

08) Loss on issue of debentures is treated as ------

  1. Revenue loss debited to P/L a/c
  2. Capital loss to be written off from capital reserve
  3. capital loss to be written off over the period of debentures
  4. capital loss to be shown as goodwill

Answer: capital loss to be written off over the period of debentures

09) RBI is a -------

  1. Statutory company
  2. Registered company
  3. Listed company
  4. chartered company

Answer: Statutory company

10) Discounted bill of exchange is a ------

  1. Contingent liability
  2. current liability
  3. non current liability
  4. fixed liability

Answer:Contingent liability

11) Partly paid up shares can be made fully paid up by capitalising----

  1. General reserve
  2. Security premium
  3. Capital redemption reserve
  4. all of the above

Answer: General reserve

12) When Debentures are issued at less than face value then loss is ----

  1. Capital loss
  2. Revenue loss
  3. capital profit
  4. revenue profit

Answer: capital profit

13) Out of the following Bonus shares cannot be issued out of ----

  1. Capital reserve a/c
  2. Revaluation reserve
  3. capital redemption reserve a/c
  4. security premium

Answer: Revaluation reserve

14) If Mr X has 4000 Equity shares of Rs.100 each and company declares Bonus in the ratio of 1:2 then no. of Bonus shares X will get is -----

  1. 1000 bonus shares
  2. 2000 bonus shares 
  3. 3000 bonus shares
  4. 4000 bonus shares

Answer: 2000 bonus shares 

15) Out of the following which reserve cannot be used for transfer to Capital Redemption Reserve -----

  1. security premium a/c
  2. Revaluation reserve
  3. profit prior to incorporation
  4. All the above options

Answer: All the above options

16) The debentures can be redeemed out of ------

  1. Capital
  2. Profit
  3. Conversion in to shares
  4. All the above is possible

Answer: all the above is possible

17) For calculating preincorporation profit  carriage on purchases is allocated in ------

  1. Sales ratio
  2. Time ratio
  3. Purchases ratio
  4. Debited to preincorporation period

Answer: purchases ratio

18) For calculating preincorporation profit  travelling expense to salesmen s are allocated in ------

  1. Post incorporation period
  2. Preincorporation period
  3. Sales ratio
  4. Time ratio

Answer: sales ratio

19) For calculating preincorporation profit Insurance expense is ----

  1. Treated as preincorporation expense
  2. Treated as post incorporation expense
  3. Allocated on sales basis
  4. Allocated on time basis

Answer: Allocated on time basis

20) Preliminary expenses written off should be charged to ------

  1. Preincorporation profit
  2. Post incorporation profit
  3. Debited to trading a/c
  4. Shown in balance sheet

Answer: post incorporation profit

21) The amount of capital stated in Memorandum of association of company is called -------

  1. Nominal capital
  2. Paid up capital
  3. Reserve capital
  4. Subscribed capital

Answer: Nominal capital

22) If company issues 10,000 Equity shares of Rs.10 each and Applications are received For 12500 shares it is called ------

  1. Under subscription
  2. Oversubscription
  3. Less response
  4. Good response

Answer: Oversubscription

23) A company can issue shares at ------

  1. Par only
  2. Discount only
  3. Premium only
  4. All of the above

Answer: All of the above

24) Loss before Incorporation is -----

  1. Debited to capital reserve
  2. Debited to Goodwill
  3. Net loss
  4. Written off

Answer: Debited to Goodwill

25) To calculate preincorporation profit salaries  paid for the year are allocated in ------

  1. Sales ratio
  2. Time ratio
  3. Debited to preincorporation
  4. Debited to post incorporation

Answer: Time ratio



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