Question Paper Commerce
1. Which of the following is not a source of redemption of preference shares?
A. Divisible profit
B. Securities premium a/c
C. Realization of asset
D. Proceeds of fresh issue
Answer : C
2. Redemption of preference shares should not be regarded as reduction of..............capital of the company.
A. Paid-up
B. Called-up
C. Subscribed
D. Authorized
Answer : D
3. Under the scheme of buyback of shares, the company in order to perform its obligations, is required to open an...............account.
A. Fixed deposit
B. Escrow deposit
C. Saving deposit
D. Current deposit
Answer :B
4. Debenture holders are...............of the company.
A. Owners
B. Creditors
C. Both A and B
D. None of these
Answer : B
5. When debentures are redeemed out of profits, an equal amount is transferred to.................
A. CRR
B. Capital reserve
C. Revenue reserve
D. Debenture redemption reserve
Answer : D
6. When own debentures are cancelled any profit on cancellation is transferred to...............
A. General reserve
B. Capital reserve
C. P/L Account
D. None of these
Answer : B
7. ................is a document which either creates or acknowledges a debt.
A. Debenture
B. Trust deed
C. Security
D. Articles of Association
Answer : A
8. ................ Is a document prepared by the company before the issue of prospectus to the public for subscription of debentures.
A. Debenture
B. Trust deed
C. Abridged prospectus
D. Call letter
Answer : B
9. Discount on issued of debentures is a...............
A. Capital loss
B. Capital profit
C. Revenue loss
D. Revenue profit
Answer : A
10. Dividend declared in between two annual general meeting is called..............
A. Unclaimed dividend
B. Interim dividend
C. Proposed dividend
D. Scrip dividend
Answer : B
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