Authorised Share Capital

Q.

Who are the real owners of a company ?

1. Managing director

2. Shareholders

3. Board of directors

4. None of these

Q.

Authorised capital is known as __________.

1. Susbcribed capital

2. Nominal capital

3. Called up capital

4. Issue Capital

Q.

What is the full form of STT?

Q.

Property Of The Company Belongs To : A. Company B. Share Holders C. Members D. Promoter

Q. A company’s share capital is divided into small units known as .

1. fractions
2. debentures
3. shares
4. units

Q. Describe the purposes for which a company can use ‘Securities Premium Account’.

Q. Under which major head will the following be shown:

(i) Share Capital; and (ii) Money Received Against Share Warrants?

Q. The of a company refers to the amount invested in the company by the shareholders.

1. drawings
2. corpus
3. capital fund
4. share capital

Q.

The maximum share capital, a company can raise is ________________

1. None of the above

2. Issued Capital

3. Authorised share Capital

4. Called up Capital

Q. XYZ Associates in not maintaining full-fledged accounts on double entry system basis. From the following details estimate the profit made by XYZ Associates during $2013-14$ _____________.
Capital as on $1-4-2013$ Rs. $80,000$
Capital added during the year Rs. $20,000$
Drawing during the year Rs. $35,000$
Capital as on $31-3-2014$ Rs. $1,25,000$.

1. Rs. $75,000$
2. Rs. $60,000$
3. Rs. $50,000$
4. Rs. $45,000$

Q. In which business organisation there is separation of ownership and management?

Q.

A company’s share capital is divided into small units known as ___

1. None of the above

2. Debentures

3. Units

4. Shares

Q.

Section 52 of the Companies Act, 2013 is related to.

Q.

Which of the following capital can be increased or decreased as per the procedure laid down in the Companies Act.

1. None of the above

2. Called up capital

3. Susbcribed capital

4. Authorised capital

Q. Credit purchase of stationery worth $Rs.5,000$ by a stationery dealer will be recorded in ___________.

1. Journal proper (general journal)
2. Cash book
3. Purchase book
4. Sales book

Q. Bank charges amounting to Rs.$5000$ was not entered in the cash book. Identify the correct adjustment in cash book .

1. Bank charges will be debited in cash book.
2. Bank charges will be added to cash book balance.
3. Bank charges need no adjustment in cash book.
4. Bank charges will be credited in cash book.

Q. Give one word / Term / phrase for each of the following statement :

Capital stated in the capital clause of Memorandum of Association.

Q. A limited provides you the following information, Equity share capital, call up Rs. $4,00,000$ Calls in advance Rs. $25,000$ Calls in arrears Rs. $40,000$. The amount of paid up capital to be shown in the Balance Sheet of A Limited will be?

1. Rs. $3,35,000$
2. Rs. $3,85,000$
3. Rs. $3,60,000$
4. Rs. $4,25,000$

Q. On $30$th September overdraft as per pass book of S LTd. was Rs.$32,400$. The bank had directly collected dividend of other companies Rs.$1,750$ and interest Rs.$1,200$. As per standing instruction bank had paid bills of Rs.$2,454,$. Cheque deposited for Rs.$8,929.60$ was not credited in pass book. Balance as per cash book should be __________.

1. Overdraft of Rs.$23,966.40$
2. Overdraft of Rs.$46,733.60$
3. Overdraft of Rs.$40,833.60$
4. Overdraft of Rs.$18,066.40$

Q. ____ is used to raise capital for the company.

1. interest
2. income
3. share
4. profit

Q. are the owners of a company.

1. Chief Officer
2. Shareholders
3. Board of directors
4. Managing director

Q. Give one word / Term / phrase for each of the following statement :

The maximum amount beyond which a company is not allowed to raise funds.

Q. Shareholders take initiative to form a company.

1. True
2. False

Q.

__________of a company refers to the amount invested in the company by the shareholders.

1. Capital fund

2. None of these

3. Corpus

4. Share capital

Q. The amount contributed by shareholders of Joint Stock Company is called capital.

1. True
2. False

Q. The amount contributed by shareholders of Joint Stock Company is known as capital.

1. True
2. False

Q. 'Samta Limited invited applications for issuing $6,750$ equity shares of $Rs10$ each. The amount was payable as follows : On application - $Rs3$ per share
On allotment - $Rs5$ per share
On first and final call - $Rs2$ per share
The issue was fully subscribed. Subhash applied for $250$ shares and paid his entire share money with application. Moti applied for $175$ shares and paid allotment money also with application. The amount received with applications was :

1. $Rs16,750$
2. $Rs16,000$
3. $Rs19,250$
4. $Rs22,875$

Q.

Distinguish between a debenture and a share. Why is debenture known as loan capital? Explain.

Q. What are shares?

1. Shares are not units of ownership interest in a corporation or financial asset.
2. Shares are units of ownership interest not in a corporation or financial asset.
3. Shares are units of ownership interest in a corporation or financial asset.
4. Shares are units of ownership interest in a company policy.

Q. State, whether the following statements are True or False.

Shares are issued for cash only.