Question Paper BSNL Jonior Accounts Officers (JAO)
1. A Ltd. issued a prospectus inviting application for 2,000 shares. Applications were received for 3,000 shares and pro rata allotment was made the application for 2,400 shares. If white had been allotted 40 shares, how many shares he must h applied for?
(a) 40
(b) 44
(c) 48
(d) 52
Ans. c
2. X Ltd. forfeited 20 shares of Rs. 10 each s which Rs. 4 per share were paid, what min price Company must charge if the forfeited; are re-issued as Rs. 8 per share paid-up?
(a) Rs. 2 per share.
(b) Rs. 4 per share
(c) Rs. 8 per share.
(d) Rs. 10 per share
Ans. b
3. Which of the following may be utilised by a limited company for the redemption of redeemable preference shares?
(a) General Reserve.
(b) Dividend Equilisation Fund.
(c) Profit and loss account balance.
(d) All of these.
Ans. d
4. Redeemable preference shares of Rs. 2,00,000 are redeemed at par for which purpose fresh equity capital of Rs. 80,000 is issued at par. What amount should be transferred to capital Redemption Reserve Account?
(a) Nil
(b) Rs. 80,000
(c) Rs. 1,20,000
(d) Rs. 2,00,000
Ans. c
5. When shares are forfeited, capital account is debited by
(a) Nominal value of shares.
(b) Paid-up amount on shares '
(c) Called-up amount on shares, IB
(d) Forfeited amount.
Ans. c
6. The profit or loss disclosed by the accounts of company is
(a) Transferred to share capital account
(b) Shown in the column of “Current liabilities and provisions’’
(c) Shown in the column of ‘Reserves and surplus ’ under a separate account
(d) Transferred to General Reserve
Ans. c
7. The remuneration payable to a whole director of the company should not exceed
(a) 5% of the net profits.
(b) 6% of the net profits.
(c) 7% of the net profits.
(d) 10% of the net profits
Ans. a
8. 6 % Debentures A/c Rs. 3,00,000 Debenture Interest Rs. 6,000 What amount should be shown in P and L A/c?
(a) Rs. 6,000
(b) Rs.12,000
(c) Rs. 18,000
(d) None of these
Ans. a
9. ‘Non–convertible, debenture refers to
(a) Owners capital
(b) Loan capital
(c) Short-term debts.
(d) All of these
Ans. b
10. 30 shares of a company on which application money of Rs. 3 per share has been duly paid are forfeited % non-payment of allotment money of Rs. 3 each and first and find call of Rs. 4 each. These shares are then re-issued at Rs. 8 per share &fully paid. How much money should be transferred to Capital Reserve?
(a) Rs. 30
(b) Rs. 60
(c) Rs. 90
(d) Rs. 120
Ans. a
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