Company Accounts PYQ — Page 8

Match List-I with List-II | List-I | List-II | |---|---| | (A) Redeemable Debentures | (I) the debentures which can be transferred by way of delivery and the company does not keep any record of the debentures | | (B) Convertible Debentures | (II) these debentures are issued with a specified rate of interest | | (C) Specific Coupon Rate Debentures | (III) which are convertible into equity shares or in any other security either at the option of the company or the debentureholders | | (D) Bearer Debentures | (IV) which are payable on the expiry of the specific period either in lump sum or in instalments during the life time of the company. | Choose the correct answer from the options given below:

Match List-I with List-II | List-I | List-II | |---|---| | (A) Calls in Arrears | (I) This is the case when applications for more shares of a company are received than the number offered to the public for subscription. | | (B) Calls in Advance | (II) This is a situation where the number of shares applied for is less than the number for which applications have been invited for subscription. | | (C) Over Subscription | (III) The amount due that shareholders fail to pay on allotment or on any of the calls. | | (D) Under Subscription | (IV) The amount sometimes received from the shareholders as a part or the whole of the amount of the calls not yet made. | Choose the correct answer from the options given below:

Match List-I with List-II | List-I | List-II | |---|---| | (A) These debentures refer to those debentures where a charge is created on the assets of the company for the purpose of payment in case of default. | (I) Bearer Debentures | | (B) These debentures are those which are payable on the expiry of the specific period either in lump sum or in installments during the lifetime of the company. | (II) Zero Coupon Rate Debentures | | (C) These debentures do not carry a specific rate of interest. | (III) Redeemable Debentures | | (D) These debentures are the debentures which can be transferred by way of delivery and the company does not keep any record of the debentures interest on the debentures that is paid to a person who produces the interest coupon attached to such debentures. | (IV) Secured Debentures | Choose the correct answer from the options given below:

Match List-I with List-II | List-I | List-II | |---|---| | (A) Unsecured Debentures | (I) These debentures are issued with a specified rate of interest. | | (B) Redeemable Debentures | (II) These debentures do not have a specific charge on the assets of the company. | | (C) Specific Coupon Rate Debentures | (III) These are those which are payable on the expiry of the specific period either in lump sum or in instalments during the life-time of the company. | | (D) Bearer Debentures | (IV) The debentures which can be transferred by way of delivery and the company does not keep any record of the debentures. | Choose the correct answer from the options given below:

Match List-I with List-II | List-I | List-II | |---|---| | (A) Unregistered Debentures | (I) Perpetual Debentures | | (B) Unsecured Debentures | (II) Naked Debentures | | (C) Secured Debentures | (III) Bearer Debentures | | (D) Irredeemable Debentures | (IV) Mortgage Debentures | Choose the correct answer from the options given below:

Match List-I with List-II | List-I | List-II | |---|---| | (A) Interest on calls in arrears | (I) Preference Shares | | (B) Interest on calls in advance | (II) OPC | | (C) Sec.2(62) of The Companies Act, 2013 defines | (III) 12% | | (D) Sec.43 of The Companies Act, 2013 defines | (IV) 10% | Choose the correct answer from the options given below: 1. (A) - (IV), (B) - (III), (C) - (I), (D) - (II) 2. (A) - (IV), (B) - (III), (C) - (II), (D) - (I) 3. (A) - (II), (B) - (I), (C) - (IV), (D) - (III) 4. (A) - (III), (B) - (IV), (C) - (I), (D) - (II)

Match List-I with List-II | List-I | List-II | |---|---| | (A) Separate Legal Entity | (I) A company being a legal person can enter into contracts and can enforce the contractual rights against others. | | (B) Perpetual Succession | (II) It can hold and deal with any type of property, It can enter into contracts and even open a bank account in its own name. | | (C) Common Seal | (III) The company being an artificial person created by law continues to exist irrespective of the changes in its membership. | | (D) May Sue or be Sued: | (IV) The company being an artificial person, cannot sign its name by itself. | Choose the correct answer from the options given below: 1. (A) - (II), (B) - (III), (C) - (IV), (D) - (I) 2. (A) - (II), (B) - (III), (C) - (I), (D) - (IV) 3. (A) - (II), (B) - (I), (C) - (IV), (D) - (III) 4. (A) - (III), (B) - (IV), (C) - (I), (D) - (II)

Match List-I with List-II | List-I | List-II | |---|---| | (A) Secured Debentures | (I) Which are payable on the expiry of the specific period either in lump sum or in instalments during the life time of the company. | | (B) Unsecured Debentures | (II) Debentures where a charge is created on the assets of the company for the purpose of payment in case of default. | | (C) Redeemable Debentures | (III) These debentures are repayable on the winding-up of a company or on the expiry of a long period. | | (D) Irredeemable Debentures | (IV) Debentures do not have a specific charge on the assets of the company. | Choose the correct answer from the options given below:

Match **List-I** with **List-II** | List-I | List-II | | :--- | :--- | | (A) For the amount of calls received in advance | (I) Calls in Advance A/c   Dr.        To Particular Call A/c | | (B) Interest on Calls in Advance is due | (II) Sundry Shareholder's A/c   Dr.        To Bank A/c | | (C) The amount of 'Calls in Advance' is adjusted | (III) Bank A/c   Dr.        To Calls in Advance A/c | | (D) Interest on Calls in Advance, For Interest Paid | (IV) Interest on Calls in Advance A/c   Dr.        To Sundry Shareholder's A/c | Choose the **correct** answer from the options given below:

Jindal and Company purchased a machine from High Life Machine Limited for Rs.3,80,000. As per purchase agreement, Rs. 20,000 were paid in cash and balance by issue of shares of Rs.100 each. Find the number of shares issued, if they are issued at par:

Jain and Co. purchased a machine from Young Life Machine Limited for Rs.3,80,000. As per the purchase agreement, Rs. 20,000 were paid in cash and balance by issue of shares of Rs.100 each. How many shares are issued if the shares are issued at 20% premium.

Jain and Co. purchased a machine from Young Life Machine Limited for Rs. 3,80,000. As per the purchase agreement, Rs. 20,000 were paid in cash and balance by issue of shares of Rs. 100 each. How many shares are issued if the shares are issued at 20% premium.

It is to be noted that 'minimum subscription' of capital cannot be less than ……… of the issued amount according to SEBI Guidelines (Disclosure and Investor Protection)

It is available only for the creditors on winding up of the company.

Issue of Rs. 1,00,000, 9% debentures of Rs. 100 each at discount of 15% but redeemable at premium of 5%, the amount debited to loss on issue of debenture account is.

Issue of Rs. 1,00,000, 9% debentures of Rs. 100 each at discount of 15% but redeemable at premium of 5%, the amount debited to loss on issue of debenture account is.

Issue of 8% debentures is shown under which sub-head in the balance sheet of a company:

__________ is that portion of the subscribed capital which has not been demanded by the company. The company may collect this amount any time when it needs further funds :-

Interest on calls in arrears is charged according to "Table F" at :

Interest on calls-in-arrears is charged according to 'Table F' at the rate of .......p.a? :

Interest on calls in advance is provided at a rate not exceeding ........ as per "Table F":

In which order, the share capital of the Company is shown on the balance sheet: (A) Authorized Capital (B) Subscribed and fully paid up Capital (C) Issued Capital (D) Subscribed but not fully paid up Choose the correct answer from the options given below:

In which order, the following types of share capital are shown in the balance sheet of a company? (A) Subscribed Capital (B) Called up Capital (C) Issued Capital (D) Authorized Capital Choose the correct answer from the options given below:

In what condition the amount is shown under the head of 'Subscribed and Fully Paid up Share Capital' in Balance Sheet of a Company-