Issue of Share MCQs (Theory-Based Questions)

Hello Students! We are providing here the Issue of Share MCQs.

From the Annual Examination 2021-22, class XII students will find more number of objective type questions in their Accountancy question paper.

To prepare for the one mark questions, students need to know all the important concepts which can be tested in the exam.

CBSE MCQs on Class XII Accountancy Part B Chapter 1 Company Accounts (Issue of Shares) provided by One Mark Solution will help students get acquainted with such important concepts and topics.

So that they may easily attempt the related Multiple Choice Type Questions asked in CBSE XII Accountancy Exam 2021-22.

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Issue of Share MCQs

Created on November 16, 2021 By

One Mark Solution

Issue of Share MCQs (Theory)

Issue of Share Theory Based Questions for CBSE Term 1 Exam 2021-22.

1 / 10

1) When shares are forfeited, the share capital account is debited with _________ and the share forfeiture account is credited with____________.

a) Called up capital of shares forfeited; Amount received on shares forfeited

b) Paid-up capital of shares forfeited; Called up capital of shares forfeited

c) Called up capital of shares forfeited; Calls in arrear of shares forfeited

d) Calls in arrears of shares forfeited; Amount received on shares forfeited

2 / 10

2) Which one of the following is a permanent representative personal account of shareholders?

a) Share Application & Allotment A/c

b) Share Allotment A/c

c) Share Capital A/c

d) Share Application A/c

3 / 10

3) A shareholder failed to pay share allotment money on 12,000 shares @ ₹ 30 per share. Which one of the following account will be taken into account?

a) Debited to Share Capital A/c

b) Credited to Calls-in Arrears A/c

c) Credited to Share Capital A/c

d) Debited to Calls-in Arrears A/c

4 / 10

4) The options granted by the company to its employees and employee directors at a price that is lower than the market price is ______.

a) IPO

b) Private Placement

c) Right Issue

d) ESOP

5 / 10

5) Name the head of Capital Clouse of Memorandum of Association of a company in which maximum amount of share capital mentioned is called _____.

a) Authorised Capital

b) Issued Capital

c) Reserve Capital

d) Subscribed Capital

6 / 10

6) Money received in advance from shareholders before it is actually called-up by the directors is:

a) credited to calls in advance account

b) debited to calls account

c) debited to calls in advance account

d) None of these

7 / 10

7) Equity Shareholders are:

a) customers of the company

b) creditors

c) none of these

d) owners

8 / 10

8) The part of un-called capital, to be called only in the liquidation of a company is called:

a) Reserve Capital

b) Un-reserved Capital

c) Calls-in Arrears

d) Capital Reserve

9 / 10

9) Received share application money towards application & allotment of shares will be credited to which of the following account?

a) Share Application & Allotment A/c

b) None of these

c) Share Capital A/c

d) Share Application A/c

10 / 10

10) Which of the following is a temporary representative personal account of shareholders?

a) Share Application A/c

b) Share Application & Allotment A/c

c) Share Allotment A/c

d) All of these

Name

Your score is

The average score is 50%

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Stay Tuned, in Future we will provide the multiple choice questions on shares and debentures pdf. Here we have provided quiz on issue of shares Practice it for the Better Results in the CBSE Term 1 Exam 2021-22.

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