reconstruction? c) Super Profit. Consent of creditors is not required if capital reduction involves the writing off of paid up capital lost or not represented by available assets. Capital Reduction Account is ________ by payment of reconstruction expenses.a) credited b) debited c) Cash Account d) none of the above, 17. A scheme of __________ or __________ mean the scheme having same effect.a) capital reduction or internal reconstruction b) Capital Reduction or External reconstructionc) none of the above. 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 a) face b) market c) both of a & b d) none of the above 12. Corporate Accounting MCQ Question Bank Reconstruction of Companies. 5 fully paid. Manan Prakashan 1 CHAPTER - 1 : AMALGAMATION, ABSORBTION AND EXTERNAL RECONSTRUCTION (AS - 14) MULTIPLE CHOICE QUESTIONS. 25. Accounting for Amalgamation, Absorption and External. Let's take a quick look at the CA Inter Course before diving into the specifics of the ICAI CA Inter Mcq Notes 2022. %PDF-1.4
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10 each fully paid decides to repay Rs. c) Super Profit. Accounting for Internal Reconstruction. HT=s0+8xDmC?AX9jbN:w)Pgj!V-[._
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Amount sacrificed by shareholders are credited to: 13. 17. :u4$L"G0cOpe"MH3SIoIe?+-;YH1k G@bV+o Main aim of this blog is to provide all academic resources and information's especially for Commerce Stream Students. The scheme of internal reconstruction requires approval of ____________ .a) Shareholders b) Central Government c) NCLT d) all the above, 7. 100 each, converts it into stock. 0000031742 00000 n
Attend Live Classes using Any Device be it Phone, Tablet or Computer, 5th Floor, North Wing, SJR The word And reduced cannot be added to the name of the company if no direction has been given by the court. A company is free to reduce or extinguish the uncalled liability of its members. vt00 In ____________ , no new company is formed.a) External reconstruction b) Amalgamationc) internal reconstruction d) none of the above, 20. The expenses for forming and implementing scheme should be debited to ____________ .a) security premium b) share capital c) Internal reconstruction d) capital reduction, 15. Internal reconstruction definition, the hypothetical reconstruction of an earlier stage of a language or of some part of it, as its phonology, by deductions from irregularities in its present structure, as the reconstruction of a stage in English when certain instances of r were related to s in a systematic way by comparing the pair was:were to other pairs, as lose:forlorn. The fictitious debit balances are to be transferred to ___________ Account.a) internal reconstruction b) security premium c) share capital d) Capital Reduction, 9. MULTIPLE CHOICE QUESTIONS 1. 31) Reconstruction includes all of the following except 32) . Share Capital A/c (100) Dr. 500000, Share Capital A/c (10) Cr. To carry out capital reduction, permission is required from: 14. When a company converts its equity shares into the capital stock, then the account to be credited is: 4. A brain-computer interface that decodes continuous language from non-invasive recordings would have many scientific and practical applications. 0000008674 00000 n
Company Liquidation Accounts. Ans: b) Revenue Profit. Computerized Accounting Practices. For writing off the accumulated Josses under the scheme of capital reduction, we debit, 6. If there is any balance in the capital reduction account after writing off all the accumulated losses, then the same is transferred to: 8. endstream
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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$ McqMate.com is an educational platform, Which is developed BY STUDENTS, FOR STUDENTS, The only Court Confirmation Order has to be registered with the __________ of companies.a) NCLT b) share capital c) Registrar d) none of the above, 19. A company has issued capital of 10,000 equity shares of Rs. Consent of creditors is not required if capital reduction involves the writing off of paid up capital lost or not represented by available assets. (a) 1 (b) 2 (a)3 (a) many 4. Bachelor of Business Administration (BBA). 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. in Bangalore here: Software Service (C) Internal reconstruction (B) Absorption (D) External reconstruction While calculating purchase price, the following values of assets are considered Book value (C) Average values (B) Revised Value (D) Market values Shares received from the new company are recorded at - Face value (C) Market value (B) Average price The Capital reduction means reduction in ____________ value of shares. The word And Reduced is added to the name of the company for such period as the court deems fit. 0000003198 00000 n
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The HUB, Sy. Checkout Top Schools 19. Download PDF. d:b%aE2ag,jO=7^Mq*YTW%s\QQ]7,Z >cDu061`xxg]Q9*!:z5~m^&Wi=DJ?^rt3@Ey7ogblH@Pb 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. To carry out capital reduction, permission is required from: a) X Ltd. Having a share capital of Rs. 500000 divided into 5000 shares of Rs. U,]]. Alteration of share capital can be affected by passing an ordinary resolution. hb```f``c`e`icd@ Ar400kPQ{!{GGCG+CP q #s*m,f.HfEZX7``~d1/s ` !
Copyright 2023 McqMate. Amalgamation, Absorption & External reconstruction Multiple Choice Questions 1. 5 fully paid. Accounting for Internal Reconstruction. 15. answer choices. Amount sacrificed by shareholders are credited to: 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. 100 each, subdivided the shares into 50000 shares of Rs. I am Gold educator on teachmint online live classes app, I am Post Graduate from Commerce and Direct Course of Law, We have provide all courses of Commerce as well as banking and IBPS Competitive exam Course and also provide Tally Erp 9 + GST Module at offline Training mode. 43 0 obj
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16. Currently, however, non-invasive language decoders . c) X Ltd. Having a share capital of Rs. Under Sec. 0000003758 00000 n
5 each. In which of the following cases, procedure of reduction of capital is not called for: 11. The objective of reconstruction is to write off ___________ .a) profit b) accumulated losses c) nil d) none of the above, 18. Answer :- Increases 2. %PDF-1.5
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11. Consent of creditors is required if capital reduction involves diminution of liability regarding uncalled capital or return of paid up capital. Here we are providing Notes , MCQs , Question Bank , Notes on Current Affairs & Many More. s Irk#nf`S_Jlhf6+xx?$UZ$yZ}opP~ fCJ[1[nS+\M]_pOgut9qiWb|Tr@r`Xj 8p2_7y#@DZpNS80dJ^3S2RzP3;! Computerized Accounting Practices. 0000007752 00000 n
All rights reserved. Internal reconstruction. A company resorts to internal reconstruction or capital reduction only in exceptional circumstances. 5 each. 100 each. Reconstruction is a process by which affairs of a company are reorganized by revaluation of assets, reassessment of liabilities and by writing off the losses already suffered by reducing the paid up value of shares and/or varying the rights attached to different classes of shares. 0000000756 00000 n
capital reduction A/C will be transfer to: Business Ethics and Corporate Social Responsibility (BECSR). xb```"WV AX,p}GynByz||kWU]{KYD$9#c'{-(&P!M cE.IJdKyAJR'![FQ[[F,r8|m5@+@nh``@P,@0yl Accounting for Amalgamation, Absorption and External. 7) Post-acquisition Profit is a) Capital Profit. 59 0 obj
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Learn more. 30 seconds. Question and answers in Accounting for Internal Reconstruction. 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. 3. 5 per share thus making each share of Rs. more mcqs. 10 each, consolidated the shares into 5000 shares of Rs. Redemption of preference shares in accordance with the provisions of section 80 is reduction of preference share capital. 500000 divided into 50000 shares of Rs. 0000001427 00000 n
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Company Liquidation Accounts. JD%@"i0iB*c`EX 1. In internal reconstruction, amount sacrificed by shareholders are credited to.. 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 100 each, converts it into stock. 0000009805 00000 n
The Shareholders can surrender shares for ________ or ____________ .a) re-issue, cancellation b)Fresh Issue, Redemption c) none of the above, 5. 500000 divided into 5000 shares of Rs. A company has issued capital of 10,000 equity shares of Rs.
External reconstruction. 10 each fully paid decides to repay Rs. a) 77 b) 100 c) 66 d) 75 2. __________ resolution is to be passed by shareholders for approval of scheme of reconstruction.a) ordinary b) Special c) both a & b d) none of the above, 8. hVN;?*:_ 10 each fully paid. endstream
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The cancellation of contingent liability is____ for company. capital reduction A/C is transferred to : After the implementation of scheme of internal reconstruction, any amount left in the Section 66 of the companies Act governs the internal reconstruction. 18. 500000 divided into 50000 shares of Rs. Our website uses cookies to improve your experience. 0000000016 00000 n
26. Multiple Choice Questions and Answers 1. throughout their Academic career. HQJo.&
;&|&LZ$w$\bRp|)oG@4}=& C8Yn*]izM6fVjAVjEM'#Y+Lx4=_TZ%x9GbmiH2y2R 30 seconds. In a scheme of reorganization amount of shares surrendered by shareholders is transferred to: 12. MCQ on Internal Reconstruction : Multiple choice questions and answers December 18, 2021 by Abhimaynu Multiple choice questions and answers 1. In which of the following cases, procedure of reduction of capital is not called for: (iii) Surrender of shares or gift of shares. (a) Profit (b) Loss (a)No Profit-No Loss (a) nil 5. It decides to convert its capital into 20,000 equity shares of Rs. If the ABC Limited and DEF Limited are taken over by a new company XYZ Limited Under which of the following circumstances can a company resort to internal reconstruction? We provide you study material i.e. Holding Company Accounts. It is a case of, 9. <<0ABB1FF79DCA334A925490CD6BFFDF14>]>>
In internal reconstruction neither the existing company is liquidated, nor is a new company incorporated. If there is any balance in the capital reduction account after writing off all the accumulated losses, then the same is transferred to: (i) Share capital account Only unsuccessful companies undertake capital reduction. In case of sub-division of share capital the total number of shares Increases Decreases Does not change. 64 of the Companies Act, 2013 the company shall give notice of the alternation of capital to the registrar within 45 days. 4~"\ In case of Internal Reconstruction , the company is. The reduction of capital is permitted under _____________ of Companies Act. answer choices. t Mprq*8)i(jm8d^zmMNX3t;(e\96!w )?=jp- ]CDH-bf>~Ji}KZw]w#@tf;:HKGr?(1bXT)"Awtt,fs6og2~7Q{T! %@dJQap8?|K( q?$T0!8aq{e_>)I/` #
Redemption of preference shares is a case of capital reduction. 5 per share thus making each share of Rs. Suraj Patel Education is one of the best blog on Education . wound up. 500000, Micro Economics Notes and Important Questions, Reducing share capital by returning the excess capital, Reducing the liability on account of uncalled capital. 0000003520 00000 n
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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 . b) Revenue Profit. Turn around. Shareholders not approving scheme is called _________ shareholders.a) dissenting b) paying c) pay disentient shareholders d) none of the above, 13. M.A EXAM :- https://t.me/mastudentsexam, https://www.youtube.com/channel/UCv8JIY58xfWHUIXVu9wxNHw. Multiple Choice Questions 1)Voluntary winding up: a)If period fixed for the company is expired. 0000005402 00000 n
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. Internal Reconstruction MCQ MCQs on other topics of Financial Accounting Cost Accounting MCQs pdf 1. Number 8/2 & 9, Sarjapur Road, Bengaluru, Karnataka- 560 103. Eliminate the accumulated losses from the books. The reduction of capital is permitted under _____________ of Companies Act.a) 77 b) 100 c) 66 d) 75, 2. Valuation of Shares. Absorption. 100 each. Under which of the following circumstances can a company resort to internal 10 each, consolidated the shares into 5000 shares of Rs. The term Internal Reconstruction means: 7. Holding Company Accounts. Internal reconstruction is done due to .. In case of , one existing company takes over the business of another company and no new company is formed Merger Buyout Joint Venture De-merger 23Which merger involves firms engaged in unrelated types of activities? more mcqs. 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. Hey Guys, Myself Kumar Nirmal Prasad, a Teacher turned Full time Blogger and Investor. 6) Internal reconstruction means a) Amalgamation in nature of merger. . /FV.)|[%;$3 >% LMhLI3kve^v2zWl:{ eM>"2+hY$Jddt'i;|` A Ltd. with a share capital of 10,000 equity shares of Rs. No journal entry is required for cancellation of unissued share capital. Company Final Accounts. A Ltd. with a share capital of 10,000 equity shares of Rs. We provide you study material i.e. The video explains important mcqs on Internal Reconstruction of company #Capital Reduction #Account AM$|?F9 UY
The full balance of capital is to be debited, if _____________ value is reduced. 10 each. 1. HyE$=T0dd$@>%o53mXe@8f2"0(#u8WLfR>|>ug2gcA9
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