Question with Answer Commerce
1. Which of the following is not shown on the liability side of a balance sheet of a company ?
A. Authorized capital
B. Issued capital
C. Paid up capital
D. Reserve capital
Answer : D
2. Penalty for delay in refunding application money:
A. 6%
B. 5%
C. 15%
D. 20%
Answer : C
3. Public limited companies cannot issue .........
A. Equity shares
B. Deferred shares
C. Preference shares
D. Right shares
Answer : B
4. The minimum share application money is...............
A. ₹ 1/ share
B. 5% of the face value of share
C. 10% of the issue price of share
D. None of these
Answer : B
5. The rate of discount on issue of shares should not exceed........ % of the nominal value of shares.
A. 10
B. 2
C. 4
D. 5
Answer : A
6. Right shares are those shares which are issued to:
A. Directors
B. Promoters
C. Existing shareholders
D. None of these
Answer : C
7. The profit on reissue of shares is transferred to .............
A. General reserve
B. Capital reserve
C. P/L account
D. P/L appropriation account
Answer : B
8. Voluntary return of shares by shareholders to the company for cancellation is called:
A. Transfer of shares
B. Forfeiture of shares
C. Surrender of shares
D. Buyback of shares
Answer : C
9. Stock is a consolidation of.............. Shares .
A. Partly paid
B. Fully paid
C. Equity
D. Sweat
Answer : B
10. Preference shareholders are entitled to a fixed rate of.........
A. Interest
B. Dividend
C. Coupon
D. Capital
Answer : B
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