PDFs for offline use. We take free online Practice/Mock test for exam preparation. Each MCQ is open for further discussion on discussion page. All the services offered by McqMate are free. Share Capital A/c (100) Dr. 500000, Share Capital A/c (10) Cr. Amalgamation, Absorption & External reconstruction Multiple Choice Questions 1. Valuation of Shares. d:b%aE2ag,jO=7^Mq*YTW%s\QQ]7,Z >cDu061`xxg]Q9*!:z5~m^&Wi=DJ?^rt3@Ey7ogblH@Pb vt00 b) Revenue Profit. 0000003758 00000 n 10 each fully paid decides to repay Rs. more mcqs. a) face b) market c) both of a & b d) none of the above 12. Accounting for Amalgamation, Absorption and External. 5 each. The difference in revaluation of assets is to be transferred to ___________ Account.a) internal reconstruction b) Capital Reduction c) security primium d) capital reserve, 10. 30 seconds. gHc > &E]`v6DVMH HOf`a)XL?o D A company is free to reduce or extinguish the uncalled liability of its members. HT=s0+8xDmC?AX9jbN:w)Pgj!V-[._ KDaTJj1~' a) dissenting b) paying c) pay disentient shareholders The full balance of capital is to be debited, if _____________ value is reduced.a) face b) market c) both of a & b d) none of the above, 12. The Balance Sheet prepared after implementation of the scheme is to be prepared as per ____________.a) Schedule IV b) Schedule VI c) Schedule II d) Schedule III, 14. 0000003198 00000 n Internal reconstruction is a slow and tedious process since it required the approval of : After the implementation of the scheme of internal reconstruction , any surplus in capital reduction A/C is transferred to : After the implementation of scheme of internal reconstruction, any amount left in the capital reduction A/C will be transfer to: 1. The Capital reduction means reduction in ____________ value of shares. In a scheme of reorganisation amount of shares surrendered by shareholders is transferred to: 13. Company Liquidation Accounts. c) Super Profit. Capital Reduction Account is ________ by payment of reconstruction expenses.a) credited b) debited c) Cash Account d) none of the above, 17. 5 fully paid. objective of our platform is to assist fellow students in preparing for exams and in their Studies J%7uI 8vjYZOM}r,2s.Z 'Xj:8A3v8^X.x=a4$ If the creditors are willing to reduce their claims against the company, (hen the amount of reduction in their claim will be transferred to, 9. Cancellation of unissued capital is also a case of capital reduction. Download PDF. Court Confirmation Order has to be registered with the __________ of companies.a) NCLT b) share capital c) Registrar d) none of the above, 19. Restructuring Internal Reconstruction 22 State an arrangement whereby the assets of two ro more companies come under the control of one company? Any loss on revaluation of the assets at the time of internal reconstruction, will be charged from. McqMate.com is an educational platform, Which is developed BY STUDENTS, FOR STUDENTS, The only 0000001160 00000 n Latest Reconstruction of companies MCQ Objective Questions Top Reconstruction of companies MCQ Objective Questions Exam Preparation Simplified Learn, practice, analyse and improve Get Started for Free Download App Trusted by 3.9 Crore+ Students Related MCQ Merger& Amalgamation MCQ Exams TNPSC Group 1 TNPSC Group 2 RRB Group D RRB NTPC 500000 divided into 5000 shares of Rs. Win vouchers worth INR 2,000 with our School Referral Program, Ranked Amongst Top 25 Companies by LinkedIn. MULTIPLE CHOICE QUESTIONS 1. Irk#nf`S_Jlhf6+xx?$UZ$yZ}opP~ fCJ[1[nS+\M]_pOgut9qiWb|Tr@r`Xj 8p2_7y#@DZpNS80dJ^3S2RzP3;! When a company converts its equity shares into the capital stock, then the account to be credited is: 4. throughout their Academic career. If there is any balance in the capital reduction account after writing off all the accumulated losses, then the same is transferred to: 8. Under which of the following circumstances can a company resort to internal Merger Buyout Joint Venture De-merger 23Which merger involves firms engaged in unrelated types of activities? 500000 divided into 5000 shares of Rs. 0 11. Let's take a quick look at the CA Inter Course before diving into the specifics of the ICAI CA Inter Mcq Notes 2022. <<0ABB1FF79DCA334A925490CD6BFFDF14>]>> c) Capital Reduction. 10 each. 100 each, subdivided the shares into 50000 shares of Rs. Multiple Choice Questions. Ans: b) Revenue Profit. HQJo.& ;&|&LZ$w$\bRp|)oG@4}=& C8Yn*]izM6fVjAVjEM'#Y+Lx4=_TZ%x9GbmiH2y2R 1. 500000, Micro Economics Notes and Important Questions, Reducing share capital by returning the excess capital, Reducing the liability on account of uncalled capital. Holding Company Accounts. State whether the following statements are True or False: According to sec. 11)face 12)dissenting 13)Schedule III 14)capital reduction 15)funds 16)debited 17)accumulated losses 18)Registrar 19)internal reconstruction 20)credit, HSC Question Paper 2023 12th Commerce (Download Free pdf), HSC OCM Paper 2023 March Maharashtra Board | Download Free Pdf, HSC SP Paper 2023 March Maharashtra Board | Download Free Pdf, HSC Hindi Paper 2023 March Maharashtra Board | Download Free Pdf, HSC English Paper 2023 March | Download Free Pdf, 11th OCM Chapter 8 Exercise (Introduction to Management) Maharashtra Board Free Resource, 11th OCM Chapter 7 Exercise (Business Environment) Maharashtra Board Free Resource, Financial Accounting Mcqs | More Than 700 Free MCQs, 12th SP Chapter 6 Solution (Correspondence with Members) Maharashtra Board Free Solution. Internal reconstruction is done due to .. Agreement. The Shareholders can surrender shares for ________ or ____________ .a) re-issue, cancellation b)Fresh Issue, Redemption c) none of the above, 5. It is a case of, 9. 61 of the companies act, 2013, a limited company can increase, sub-divide or consolidate all or part of its existing share if authorised by its articles of association. Alteration of share capital can be affected by passing an ordinary resolution. No journal entry is required for cancellation of unissued share capital. Important Links: To carry out capital reduction, permission is required from: 14. After the implementation of scheme of internal reconstruction, any amount left in the capital reduction A/C will be transfer to: For amalgamation in the nature of merger, the shareholders holding at least or more of the equity shares of the transferor company becomes the equity shareholders of the transferee company. When two or more companies carrying on similar business decide to combine, a new company is formed, it is known as (A) Amalgamation (B) Absorption (C) Internal reconstruction (D) External reconstruction All rights reserved. Accounting procedure when internal reconstruction made 36) 7. Internal Reconstruction - Advanced Accounting - MCQ Test - Teachmint Test Details Internal Reconstruction All the best Starts Feb 02, 6:00 PM Duration 15 minutes Deadline Feb 02, 9:00 PM Maximum marks 20.0 marks Question type MCQ Total questions 10 questions Like Share 32 Views Kishor Suryawanshi 64 of the Companies Act, 2013 the company shall give notice of the alternation of capital to the registrar within 45 days. 0000000016 00000 n For writing off the accumulated Josses under the scheme of capital reduction, we debit, 6. Copyright 2023 McqMate. 0000006983 00000 n Valuation of Shares. %%EOF Ans: a) Capital Profit. Accounting for Internal Reconstruction. Company Final Accounts. A company must pass a special resolution for reduction of capital. Companies may combine in following ways (i) absorption (ii) amalgamation (iii)external reconstruction (iv)internal reconstruction (v) merger (a) any of above (b) none of above (c) any except (iv) (d) any except (v) 2. more mcqs. 1.If there is any balance in the capital reduction account after writing off all the accumulated losses then the same is transferred to ; (A) Share Capital Account (B) Capital Reserve Account (C) General Reserve Account (D . 22 0 obj <> endobj endstream endobj 72 0 obj <>stream Share Capital A/c (10) Dr. 500000. c) X Ltd. Having a share capital of Rs. Corporate Accounting Multiple Choice Questions and Answers, Mumbai University B.Com - MCQs, Exam MCQs and Solved Papers, Auditing MCQs Multiple Choice Questions and Answers | Auditing MCQs For B.Com, CA, CS and CMA Exams, Management Accounting MCQs [Multiple Choice Questions and Answers], MCQ On Budget and Budgetary Control | Multiple Choice Questions and Answers, MCQ on Accounts of Holding Companies [Multiple Choice Questions and Answers], Corporate Accounting Multiple Choice Questions and Answers (MCQs) | Company Accounts MCQs. 100 each, converts it into stock. #2 MCQ for TYBCOM Sem 5 - Internal Reconstruction MCQ's - Financial AccountingThis lecture series contains all the MCQs related to TYBCOM Sem 5 - Financial AccountingFinancial Accounting MCQs Link:https://scholarsclasses.com/blog/preparation-of-final-accounts-of-companies-mcq/TYBCOM Sem 5 MCQs Link:https://scholarsclasses.com/blog/tybcom-sem-5-mcq/TYBCOM Sem 5 MCQs Lecture link:https://youtube.com/playlist?list=PLJ_81_DlRlyfEuIryW3MX4GvicwzWkHLKPlease like, share, and subscribeVideo Presented by :Prof. Tauseef Khan (M.Com, MBA, UGC - NET)Follow us on :Facebook: https://www.facebook.com/tauseef89/Twitter: https://twitter.com/tauseef_sirInstagram: https://www.instagram.com/tauseefsirVisit our websitehttps://www.scholarsclasses.com/blog#scholarszilla#tybcommcq#tauseefsir Holding Company Accounts. Save my name, email, and website in this browser for the next time I comment. 0000008674 00000 n a) X Ltd. Having a share capital of Rs. xb```"WV AX,p}GynByz||kWU]{KYD$9#c'{-(&P!M cE.IJdKyAJR'![FQ[[F,r8|m5@+@nh``@P,@0yl The scheme of internal reconstruction requires approval of ____________ .a) Shareholders b) Central Government c) NCLT d) all the above, 7. Computerized Accounting Practices. hTA0>C. The fictitious debit balances are to be transferred to ___________ Account.a) internal reconstruction b) security premium c) share capital d) Capital Reduction, 9. 0000009805 00000 n The full balance of capital is to be debited, if _____________ value is reduced. 0000006175 00000 n If the shares of smaller denomination-are converted into the shares of higher denomination without changing the total amount of share capital, then it is a case of: (iii) Decrease in unissued share capital. Suraj Patel Education is one of the best blog on Education . Turn around. Shareholders not approving scheme is called _________ shareholders.a) dissenting b) paying c) pay disentient shareholders d) none of the above, 13. 0000001241 00000 n Get the essential details like: The number of papers The frequency of exams The manner of registration and exams, Eligibility, Exemptions, and Exam Dates For ICAI Ca Inter May 2022. Reduction of capital is unlawful except when sanctioned by the court. 16. AM$|?F9 UY When two or more existing companies combine together to form a new company, it is termed as. b) Revenue Profit. In case of loss maximum remuneration is Rs.6 Lakhs in case effective capital is less than (a) 5Cr (b) 1Cr (a)25Cr (a) 50Cr 6. 0000001427 00000 n Ans: c) Capital Reduction. |4 endstream endobj 23 0 obj <> endobj 24 0 obj <> endobj 25 0 obj <>stream Consent of creditors is not required if capital reduction involves the writing off of paid up capital lost or not represented by available assets. Answer :- Increases 2. In which of the following cases, procedure of reduction of capital is not called for: 11. Save my name, email, and website in this browser for the next time I comment. 100 each, subdivided the shares into 50000 shares of Rs. (a) Profit (b) Loss (a)No Profit-No Loss (a) nil 5. (ii) Internal Reconstruction: Internal reconstruction means a recourse undertaken to make necessary changes in the capital structure of a company without liquidating the existing company. Solved MCQs for Accounting for Internal Reconstruction, Accounting for Internal Reconstruction MCQs with answers PDF download, Bachelor of Business Administration (BBA), Human Resource Management Principles and Functions, Reading on Indian Constitution, Secularism and Sustainable Environment, Transactions- Essential English Language Skills. Accounting for Internal Reconstruction. A Ltd. with a share capital of 10,000 equity shares of Rs. Company Final Accounts. 6) Internal reconstruction means a) Amalgamation in nature of merger. Merged with another co. Copyright 2023 McqMate. xref 59 23 Cancellation of unissued capital is also a case of capital reduction. endstream endobj startxref Friends ye artical ke alava other subject Ke bhi article aapko mere website per mil jaenge jiska link me aapko niche de raha hu. 0000031742 00000 n If there is any balance in the capital reduction account after writing off all the accumulated losses, then the same is transferred to , 7. The word And reduced cannot be added to the name of the company if no direction has been given by the court. The internal reconstruction results in proper valuation of _________ and __________ of companies.a) Profit & Loss Account b) reserve & surplus c) assets and liabilities d) none of the above, 6. In case of Internal Reconstruction payment of contingent liability is debited to a) Profit & Loss A/c b) Capital Reduction A/c c) Realisation A/c d) Other 53) Any gain on payment of liability under External Reconstruction is credited to (a) 1 (b) 2 (a)3 (a) many 4. Corporate Accounting MCQ Question Bank Reconstruction of Companies. We would like to show you a description here but the site won't allow us. In case of sub-division of share capital the total number of shares, 2. --------- is the account created in connection with internal reconstruction. 17. Download PDF. Q. The Sub division of shares does not result in ___________ of capital.a) reduction b) added c) Compromise d) none of the above, 4. Main aim of this blog is to provide all academic resources and information's especially for Commerce Stream Students. Companies may combine in following ways (i) absorption (ii) amalgamation (iii) external reconstruction (iv) internal reconstruction (v) merger (a) any of above (b) none of above (c) any except (iv) (d) any except (v) 31) Reconstruction includes all of the following except 32) . Hey Guys, Myself Kumar Nirmal Prasad, a Teacher turned Full time Blogger and Investor. 0000040014 00000 n hVN;?*:_ . It is a case of, Answer :- Reducing share capital by returning the excess capital, 5. hb```f``c`e`icd@ Ar400kPQ{!{GGCG+CP q #s*m,f.HfEZX7``~d1/s ` ! objective of our platform is to assist fellow students in preparing for exams and in their Studies Internal Reconstruction MCQ (Free) | Capital Reduction September 29, 2021 11. In internal reconstruction, the existing company will be . A Ltd. with a share capital of 10,000 equity shares of Rs. 0000001960 00000 n /FV.)|[%;$3 >% LMhLI3kve^v2zWl:{ eM>"2+hY$Jddt'i;|` Redemption of preference shares in accordance with the provisions of section 80 is reduction of preference share capital. TRpH[QU4] (kB7v :u4$L"G0cOpe"MH3SIoIe?+-;YH1k G@bV+o Consent of creditors is not required if capital reduction involves the writing off of paid up capital lost or not represented by available assets.
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