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Contracts and Accounts MCQs
Here we have shared some important Practice MCQs about Contracts and Accounts. You can also find the answers to these questions, then you can find it in the PDF provided at the end.
Q: Premium received on issue of shares is shown on———–.
- asset side of the balance sheet
- liability side of the balance sheet
- credit side of the P&L a/c.
- debit side of the P & L a/c
Q: Holders of preference shares will have a right to vote if the dividend remains in arrears for a period not lessthan
- 2 year
- 3 years
- 6 years
- none of these
Q: The minimum share Application money is ———–.
- 5% of the face value of shares
- 10% of the issue price of shares
- Re. 1 per share
- 15% of the face value of shares
Q: Premium on issue of shares can be used for ———–.
- distribution of dividend
- writing of f capital losses
- transferring to the general reserve
- paying fees to directors
Q: The premium received on the issue of shares cannot be utilized for ———.
- for the issue of bonus shares
- for the writing of preliminary expenses
- for providing a premium payable on redemption
- for distribution of dividend
Q: When shares are issued at a premium which of the following account is credited?
- Share premium account
- Share first call account
- Share allotment account
- Share forfeited account
Q: Minimum number of members in the case of a public company is———.
- 4
- 5
- 6
- 7
Q: Section ———–of the companies act 1956 deals with the scheme of stock invest
- 69 to 70
- 69 to 71
- 69 to 72
- 69 to 73
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