Practice Test

1) The item 'Interest Accrued on Investments 'appears in the balance sheet of a company under the category of _____

2) Which one of the following combinations of accounting assumptions are fundamental according to Accounting Standard 1 :

3) Accounting Standard 1 is

4) Accounting policies

5) Purpose of Accounting Standard 1is to establish a standard as to

6) Vide Accounting Standard 1 fundamental accounting assumptions

7) Following is an example of an accounting policy

8) Following is an example of an accounting policy

9) Following is an example of an accounting policy

10) Following is an example of an accounting policy

11) Following is an example of an accounting policy

12) Following is an example of an accounting policy

13) Following is an example of an accounting policy

14) Following is an example of an accounting policy

15) A concern should select an accounting policy which enables it to

16) The following factor should be considered while selecting and applying accounting policies.

17) The following factor should be considered while selecting and applying accounting policies

18) The following factor should be considered while selecting and applying accounting policies

19) According to AS 1, Disclosure should be made of

20) According to As 1, Disclosure should form part of

21) According to AS 1, Disclosure should be made

22) According to AS 1, any change in accounting policy

23) According to AS 1, the effect of any change in accounting policy on the value of any item in the final accounts should

24) According to AS,1, if the effect of any chance in accounting policy on the value of any item in the final accounts cannot be ascertained.

25) According to AS 1, A change likely to have an effect not in current but in later years, should be

26) A concern has written off capital expenditure as revenue expenses by disclosing in the notes to accounts that it is the accounting policy of the concern to do so. According to AS 1.

27) Which of the following should be deducted from the share capital to find out paid-up capital ?

28) Dividends are usually paid on

29) Which of the following is not shown under the head 'Share Capital' in the balance sheet of a company ?

30) Which of the following items is not taken in P & L appropriation A/c

31) Which of the following items cannot be shown as reserves ?

32) As per schedule III, to the Companies Act, 2013 'unclaimed dividends' are to be shown as

33) Interim dividend of a company can be declared by

34) Which of the following is not an example of contingent liability ?

35) Which of the following items cannot be shown under the heading 'Provision' with respect to balance sheet under the Companies Act, 2013 ?

36) Which of the following is not an item under Current Assets, Loans and Advances under Part of Schedule III of the Companies Act, 2013 ?

37) Which of the following is not a secured loan ?

38) Which of the following will appear in the 'Profit & Loss Appropriation A/c' ?

39) Advance tax that appears in the trial balance is shown

40) In terms of Part I, Schedule III of the Companies Act, 2013, which of the following assets is shown under 'Fixed Assets' ?

41) There was fire in the factory of a company and goods worth Rs.20,000 were lost. However, the insurance company accepted the claim to the extent of Rs.16,000.State which two statements out of 4 given below are true.

42) A financial year a company may be for a period less or more than ___ year.

43) Every Balance Sheet must comply with the requirements of Part __ of Schedule __ of the Companies Act, 2013 as far as possible.

44) Every Profit and Loss Account must comply with the requirements of Part __of Schedule ___of the Companies Act, 2013 as far as possible.

45) Interest accrued on investments is required to be shown under _____ in the balance

46) Loose tools are required to be shown under ______ in the balance sheet of a company.

47) Unutilized Monies from share issues is required to be shown under____ in the balance sheet of a company.

48) Livestock is required to be shown under ____ in the balance sheet of a company.

49) Bills Receivable are required to be shown under _______in the balance sheet of a company.

50) Interest accrued but not due on aSecured Loans is required to be shown under ______ in the balance sheet of a company.

51) Uncalled amount of partly paid shares is required to be shown under______in the balancesheet of a company.

52) Option on Unissued Shares is required to be shown under ________ in the balance sheet of a company.

53) Short Term Loans have been defined vide Schedule III as those which are due for not _____ than 1 year as at the date of the Balance Sheet.

54) Arrears of Fixed Cumulative Preference Dividends are required to be shown under _________ in the balance sheet of a company.

55) An item of expenditure of the company is to be shown separately if it exceeds __ % of the total revenue of the company or Rs.________ whichever is higher.

56) According to Schedule III, in case any addition is made to any asset during the financial year, depreciation should be calculated on a ______basis from the date of such addition.

57) Interest from Sinking Fund Investments is required under Schedule III to be credited to the____.

58) Dividend ______ paid on amounts paid by shareholders as calls in advance.

59) Balance of Unpaid Dividend A/c remaining unclaimed for _____ is to be credited to Investor Protection and Education Fund.

60) Financial year of a company cannot exceed 12 months unless specially permitted by the Registrar where it may extend upto 15 months.

61) Every Profit and Loss Account of a company must comply with the requirements of Part I of Schedule III of the Companies Act, 2013 as far as possible.

62) An item of expenditure of the company is to be shown separately if it exceeds one % of the turnover of company or Rs.1,00,000, whichever is lower.

63) Any dividend remaining unpaid after 3 years from its due date can be transferred to capital reserve.

64) If the dividend is not claimed within 7 yearsfrom the date of its transfer to a special bank account, the company retains it.

65) If the dividend is not claimed within 7 years from the date of its transfer to a special bank account, the amount is distributed to the remaining shareholders.

66) If the dividend is not claimed within 7 years from the date of its transfer to a special bank account, the amount is transferred to Registrar of Companies under its General Revenue Account.

67) .If the dividend is not claimed within 7 years from the date of its transfer to a special bank account, the amount is transferred to the investor Education and Protection Fund.

68) Capital profit realized in cash can be used for paying dividend.

69) Dividend can be paid out of capital, but interest cannot be paid out of capital.

70) One of the few assets that is usually not depreciated is Goodwill.

71) Future bad debts are usually estimated as percentage of debtors

72) Amount paid on Forfeited Shares is added to Paid-up Capital in the Balance Sheet.

73) Calls unpaid are added back to Authorised Share Capital in the Balance Sheet.

74) Sundry Creditors are to be classified as(i) Amounts due for more than 6 months; and (ii) others.

75) Sundry Debtors are to be classified as(i) Small Scale Industries; and (ii) others.

76) Unclaimed dividends are shown underProvisions in the balance sheet.

77) Unsecured contract on capital account are shown under Share Capital in the balance sheet.

78) Under Secured Loans; Short Term Loans and Other Loans are to be shown separately.

79) Current liabilities are deducted from Current assets so as to show the amount of Net current Assets in the horizontal formal of balance sheet

80) The titles 'Sources of Funds' and 'Application of Funds' appear in the horizontal format of balance sheet

81) Horizontal Balance Sheet cannot have separate schedules.

82) In Fixed Assets Schedule, Opening Net Block = Opening Gross Block - Opening Depreciation.

83) In Fixed Assets Schedule, Closing Net Block = Closing Gross Block - Depreciation for the year.

84) In Fixed Assets Schedule, Closing WDV + Depreciation for the year = Opening Gross Block

85) Provision for bad debts is shown under Provisions in the balance sheet

86) Capital work-in-progress is shown under Inventory (Current Assets) in the balance sheet.

87) According to Schedule III, the increase or decrease in the Rupee liability during the year due to a change in the rate of exchange for meeting the cost of the assets should be added to or deducted from the original cost of the assets.

88) According to Schedule III, the names of scheduled banks are to be given separately, in regard to Bank Balance with them.

89) The brokerage and discount on sales,including the trade discount, related to turnover is to be disclosed separately in the Profit and Loss Account.

90) According to Schedule III. Repairs to furniture and fittings are to be disclosed separately in the profit and loss account.

91) Dividend from subsidiary companies should be shown separately if it exceeds 1% of the total revenue of the company or Rs.1,00,000, whichever is higher.

92) The value of imports by the company during the financial year calculated on F.O.B. basis is to be disclosed separately

93) The export of goods calculated on C.I.F. basis are to be disclosed by way of a note to the profit and loss account.

94) Calls in advance are shown under Current Liabilities in the balance sheet.

95) The unpaid interest due on loan is ____

96) The liabilities of companies are divided____ heads

97) The assets of the companies are divided in _____ heads

98) Which of the following is not an example of fixed assers?

99) Part 3 of schedule III provides interpretations of_____

100) Following is not fixed assets

101) Following is not a secured loans

102) In balance sheet securities premium should be shown under___

103) Call in advances are shown under_____in the balance sheet.

104) The requirements for final a/c of companies are specified in schedule____

105) Dividend paid on the share capital is to be____

106) Payment to auditor should be shown on debit side of ______

107) Forfeited shares is _______

108) Payment of dividend is based on ______

109) Prepaid insurance is shown under_____

110) Live stock is shown under_____

111) Short term loan is the loan due for not more than_____

112) Net block is______

113) Interest accrued & due on Debentures is

114) The assets which is intangible is_____

115) Unpaid call is______

116) The companies are governed by ____

117) ____ is an artificial person created by law, having separate entity, with perpetual succession and a common seal.

118) Which of the following can be treated as type of shares __________

119) Preference shares are those which carry the preferntial rights as to _____________

120) ______ will be entitled to receive arrears of their dividend.

121) Generally prefernce shareholders do not have any voting right except when dividend is outstanding for ____ cumulative preference shares and ________ for non cumulative prefernce shares.

122) Which of the following right may be given to prefernce shareholder if provided by Articles ?

123) Equity shareholder is ___________

124) _________ have the right to vote on any resolution placed before the company or general meeting.

125) Amount of capital stated in the Memorandum of Association as the share capital of the company is known as _________

126) _____ refers to that part of the authorised capital which has actually been offered to the public for subscription.

127) _____ refers to that part of the issued capital which has actually been subscribed by the public.

128) _____ refers to that part of the subscribed capital which has actually been paid by the shareholder to whom shares has been allotted.

129) Public companies issue shares to public through document called

130) _______ means the appropriation of certain number of shares to an applicant who has applied shares in public issue by the board of director in consultation with stock exchange

131) The issuer company can not make allotment of shares unless .

132) The minimum subscription is the of the issued amount

133) When shares are issued at price equal to the face value, they are said to be issued at .

134) When shares are issued at price higher than the face value, they are said to be issued at .

135) When shares are not payable in lumpsum, first installment is called .

136) When shares are not payable in lumpsum, second installment is called .

137) When shares are not payable in lumpsum, third installment is called .

138) The premium on issue of shares must be treated as .

139) The premium on issue of shares must be credited to a separate account called .

140) Security premium account must be shown seprately on the liability side of the balance sheet under the heading .

141) Amount due on calls made but not paid is known as .

142) If the number of shares applied for is less than the number of shares issued the shares are said to be .

143) If the number of shares applied for is more than the number of shares issued the shares are said to be .

144) In case of oversubscription of shares each applicant receives the shares in some propotion, it is known as .

145) If authorized by the , a company may receive from a shareholder the amount remaining unpaid on shares, even though the amount has not been called up which is known as calls in advance

146) As per Table F interest on calls in advance can be paid at p.a.

147) As per Table F interest on calls in arrear can be received at p.a.

148) The interest on calls in advance is paid for the period from the .

149) Balance of interest on calls on arrear account is transferred to the at the end of the year.

150) A company may allot fully paid shares to promters or any other party for the services rendered by them share capital account is credited and debited.

151) _______may be said to be compulsory termination of membership by way of penalty for non-payment of allotment and/ or any call money

152) Balance of interest on calls on advance account is transferred to the at the end of the year to.

153) Which of the following security can be forfeited for non-payment of allotment or call money?

154) Which of the following security can not be forfeited for non-payment of allotment or call money?

155) Shares forfeited account is to be shown in the balance sheet by way of ________ to the paid up share capital on the liabilities side until the concerned shares are not re- issued.

156) The forfeited shares must be reissued at

157) Balance of share forfeiture account remaining after reissue is transferred to .

158) If forfeited shares are reissued at a premium, the amount of such premium should be credited to .

159) Debenture holder are ______ of the company

160) Shareholder are ________ of the company

161) Debenture holders .

162) Debentures may be issued at .

163) Debenture interest is paid at a pre determined while dividend on equity shares is paid at a ________ and on preference shares is paid at a ________

164) Interest on debenture is the _________ against profits

165) Dividends are of profits

166) In the company's balance sheet, debenture are shown under the head .

167) Debentures _______ converted in to shares as per the terms of issue of debenture.

168) Debenture _____forfeited for non payment of call money.

169) At the time of liquidation, debenture holder are paid-off _____ the shareholder are paid.

170) If the debentures are issued at a price higher than the nominal value of the debentures, the premium should be credited to .

171) If the debenture are issued at price less than the face value of the debentures, the debentures are said to be issued at a .

172) Discount on issue of share is .

173) Debenture may be issued by a company for

174) The company may allot debenture to the vendors for acqurinig some assets as payment of purchase consideration, such issue debentures to the vendors is known as issue of debenture for .

175) If the value of debentures alloted to vendors for acqurining some assets as payment for purchase consideration is more than the agreed purchase price, the difference is debited to .

176) If the value of debentures alloted to vendors for acqurining some assets as payment for purchase consideration is less than the agreed purchase price, the difference is credited to

177) When debenture are issued as colletral security which of the following accounting treatment can be adopted?

178) A company limited by shares may, if authorized by its ________ can issue preference shares which are liable to redeemed.

179) The preference shares can be redemmed .

180) When preference shares are redeemed out of profits such profit must be _______ .

181) Only ________ preference shares can be redeemed.

182) If any premium is to be payable on redemption of prefernce share, such premium has to be provided .

183) Where prefernce shares are redeemed out of profits a sum equal to the nominal amount of the shares so redeemed must be transferred to

184) The capital redemption reserve account may be applied to issue .

185) No company limited by shares, issue any prefernce shares which is redeemable after the expiry of a period of _____ from the date of issue.

186) N Ltd. issued 100000 equity shares of Rs.10 each to the public at par. Full amount payable at the time of application. Application were received for 120000 shares. Excess application monies were refunded. Amount to be credited to share capital account should be _____

187) S ltd. issued 100000 equity shares of Rs.10 each at a premium of Rs.2 per share to the public. Full amount payable at the time of application. Application were received for 120000 shares. Excess application monies were refunded. Amount to be crdited to share capital a/c should be ___

188) The subscribed share capital of S ltd. is Rs.8000000 of Rs.100 each. There were no calls in arrears till the final call was made. The final call made was paid on 77500 shares. The calls in arrears amounted to Rs.62500 The final call per share =?

189) On 01.01.2009, X ltd. marks an issue of 100000 equity shares of Rs.100 each payable as follows : Application - Rs.20, Allotment - Rs.30, Final call - Rs.50 (3 months after allotment) Applications were received for 120000 shares and the directors refunded the excess application money. One shareholder, who was allotted 2000 shares paid first and final call with allotment money and another shareholder did not pay allotment money on his 3000 shares but which he paid with first and final call. Directors have decided to charge and allows interest, according to the provisions of Table-F. The amount of interest on calls-in-arrears = ?

190) On 01.01.2009, X ltd. marks an issue of 100000 equity shares of Rs.10 each payable as follows : Application - Rs.20, Allotment - Rs.30, Final call - Rs.50 (3 months after allotment) Applications were received for 120000 shares and the directors refunded the excess application money. One shareholder, who was allotted 2000 shares paid first and final call with allotment money and another shareholder did not pay allotment money on his 3000 shares but which he paid with first and final call. Directors have decided to charge and allows interest, according to the provisions of Table-A. The amount of interest on calls-in-advance = ?

191) W ltd. issued 200000 shares of rs.100 each at a premium of 20% on 01.05.2009 payable as follows : On application - Rs.45(incl premium), On allotment - Rs.25, On first & final call - Rs.50. Sunil to whom 10000 shares were allotted, has paid Rs.500000 at the time of allotment on 01.06.2009. At the time of remitting the allotment money, he indicated that the excess money should be adjusted towards the call money. The directors of the company made the first & final call on 31.10.2009 The company has a policy of paying interest on calls-in-advance as per Table F. the amount of interest paid to sunil on calls-in-advance = ?

192) N ltd. purchased machinery costing Rs.10000 and issued share of Rs.10 to vendor. The number of shares to be issued to vendor = ?

193) S ltd. purchased building costing Rs.120000 and issued share of Rs.10 each at Rs.12 to vendor. The no. of shares to be issued to vendor = ?

194) N ltd. issued 5000 shares @ Rs.10 to promoters for their service relating to incorporation. Appropriate journal entry to record this ____

195) R ltd. purchased the business of C Ltd. for Rs.270000 payable in fully paid shares. R Ltd. allotted equity shares of Rs.10 each fully paid in satisfaction of the claim by C ltd. such shares are issued at par. The number of shares to be issued by R ltd. to settle the purchase considertaion = ?

196) R ltd. purchased the business of C Ltd. for Rs.270000 payable in fully paid shares. R Ltd. allotted equity shares of Rs.10 each fully paid in satisfaction of the claim by C ltd. such shares are issued at premium of 20%. The number. of shares to be issued by R ltd. to settle the purchase considertaion = ?

197) S Ltd. acquired fixed assets worth Rs.1500000 by issue of shares of Rs.100 at a premium of 25%. The no. of shares to be issued by S ltd. to settle the purchase consideration = ?

198) Q ltd. had allotted 100000 shares to the applicants of 140000 shares on pro rata basis. The amount payable on application is Rs.2 Mr. N applied for 4200 shares. The number of shares alloted and the amount carried forward for adjustment against allotment money due from Mr. N = ?

199) R ltd. forfeited 300 equity shares of Rs.10 fully called-up, held by Mr. X for non payment of first call of Rs.2 and final call of Rs.3 each. However, he paid application money @ Rs.2 per share and allotment money @ Rs.3 per share. At the time of forfeiture for share capital account will be credited by Rs. ______

200) R ltd. forfeited 300 equity shares of Rs.10 fully called-up, held by Mr. X for non payment of first call of Rs.2 and final call of Rs.3 each. However, he paid application money @ Rs.2 per share and allotment money @ Rs.3 per share. These shares were reissued at Rs.10 each. On reissue amount to be transferred to capital reserve a/c = ?

201) R ltd. forfeited 300 equity shares of Rs.10 fully called-up, held by Mr. X for non payment of first call of Rs.2 and final call of Rs.3 each. However, he paid application money @ Rs.2 per share and allotment money @ Rs.3 per share. These shares were reissued at Rs.7 each. On reissue amount to be transferred to capital reserve a/c = ?

202) R ltd. forfeited 300 equity shares of Rs.10 fully called-up, held by Mr. X for non payment of first call of Rs.2 and final call of Rs.3 each. However, he paid application money @ Rs.2 per share and allotment money @ Rs.3 per share. These shares were reissued at Rs.12 each. On reissue amount to be transferred to capital reserve a/c = ?

203) T ltd. forfeited 500 equity shares of Rs.10 fully called-up, held by Mr. Ram for non payment of allotment money of Rs.5 (incl. Rs.2 premium), first call of Rs.2 and final call of Rs.3 each. However, he paid application money @ Rs.2 per share. These shares were reissued at Rs.10 each. On reissue amount to be transferred to capital reserve account = ?

204) T ltd. forfeited 500 equity shares of Rs.10 fully called-up, held by Mr. Ram for non payment of allotment money of Rs.5 (incl.Rs.2 premium), first call of Rs.2 and final call of Rs.3 each. However, he paid application money @ Rs.2 per share. These shares were reissued at Rs.9 each. On reissue amount to be transferred to capital reserve account = ?

205) T ltd. forfeited 500 equity shares of Rs.10 fully called-up, held by Mr. Ram for non payment of allotment money of Rs.5 (incl.Rs.2 premium), first call of Rs.2 and final call of Rs.3 each. However, he paid application money @ Rs.2 per share. These shares were reissued at Rs.13 each. On reissue amount to be transferred to capital reserve account = ?

206) W ltd. forfeited 400 equity shares of Rs.10 fully called-up, held by Mr. P for non payment of final call of Rs.4 each. However, he paid application money @ Rs.2, allotment money Rs.2 and first call Rs.2 per share. These shares were reissued at Rs.10 each. On reissue amount to be transferred to capital reserve account = ?

207) W ltd. forfeited 400 equity shares of Rs.10 fully called-up, held by Mr. P for non payment of final call of Rs.4 each. However, he paid application money @ Rs.2 per share, allotment money @ Rs.2 per share and first call Rs.2 per share. These shares were reissued at Rs.7 each. On reissue amount to be transferred to capital reserve a/c = ?

208) W ltd. forfeited 400 equity shares of Rs.10 fully called-up, held by Mr. P for non payment of final call of Rs.4 each. However, he paid application money @ Rs.2 per share, allotment money @ Rs.2 per share and first call Rs.2 per share. These shares were reissued at Rs.13 each. On reissue amount to be transferred to capital reserve account = ?

209) X ltd. forfeited 200 equity shares of Rs.10 each, Rs.8 called up for non-payment of first call money @ Rs.2 each. Application money @ Rs.2 per share and allotment money @ Rs.4 per share have already been received by the company. Out of these 150 were reissued at Rs.7 per share as showing Rs.8 paid up. On reissue amount to be transferred to capital reserve account =?

210) A company has subscribed capital of 200000 equity shares of Rs.25 each, Rs.20 per share called up. The directors forfeited 200 equity held by a shareholder who failed to pay the first call made @ Rs.10 per share. Later, the directors reissued theses shares as Rs.20 per share paid up at Rs.15 per share. On reissue amount transferred to capital reserve account = ?

211) Sukriti Ltd. forfeited 100 shares of Rs.10 each for non-payment of final call of Rs.2. Of these, 60 shares were reissued @ Rs.9 per share as fully paid. On reissue amount to be transferred to capital reserve account = ?

212) Z ltd. issued 10000 shares of Rs.10 each. The called up value per share was Rs.8. The company forfeited 200 shares of Mr. A for non payment of first call money of Rs.2 per share. He paid Rs.6 per share for application and allotment money. On forfeiture, the share capital account will be _____

213) Alex ltd. forfeited 100 shares of Rs.10 each issued at a premium of 20% (to be paid at the time of application money) on which allotment money of Rs.4 and first call money of Rs.3 were not received; the final call money of Rs.2 is not yet called. These shares were originally allotted in the ratio of 5:4. These shares were subsequently re-issued at a discount of Re.1 per share, credited as Rs.8 paid-up. on reissue amount to be transferred to capital reserve a/c = ?

214) ZPA ltd. issued 10000, 12% debenture of Rs.100 each at par payable in full on application by 1st april,2010. Application were received for 11000 debentures. Debentures were alloted on 7th april, 2010 Excess money was refunded. Amount that will appear in balancesheet as 12% debenture=?

215) Z ltd. issued 10000, 12% debenture of Rs.100 each at a discount of 10% payable in full on application by 31st may,2010. Application were received for 12000 debentures. Debentures were alloted on 9th june, 2010 Excess monies wer refunded on the same date. Amount that will appear in balancesheet as 12% debenture=?

216) HDC ltd issued 10000, 12% debenture of Rs.100 each at Rs.94 on 1st jan 2010. under the terms of issue, 1/5th of the debenture are annually redeemable by drawings, the first redemption occuring on 31st dec 2010. calculate the amount of discount to be w/off in 2010 & 2011.

217) Z ltd issued 10% debenture of Rs.100 to a vendor having face value Rs.250000 for purchase of fixed assets of Rs. 200000 No. of debenture to issue to vendor=?

218) ZPA ltd issued 10000, 12% debenture of Rs.100 each at Rs.94 on 1st jan 2010. under the terms of issue, the debentureare redeemble at the end of 8 years from the date of the issue. calculate the amount of discount to be w/off in each of the 8 years.

219) X ltd. obtained loan from IDBI of Rs.10,00,000 giving as colletral security of Rs.15,00,000, 14% Debenture on 1st april 2011. Which of the following accounting treatment is correct to issue debenture as colletral security?

220) N ltd. had 9000 8% prefernce shares of Rs.100 each fully paid up. The company decided to redemed these prefence shares at par by the issue of sufficient numbr of equity shares. How much equity shares are required to be issued if new equity shares are to be issued at Rs.10 each.

221) S ltd. had 9000 8% prefernce shares of Rs.100 each fully paid up. The company decided to redemed these prefence shares at par by the issue of sufficient numbr of equity shares. How much equity shares are required to be issued if new equity shares are to be issued at Rs.12 for a premium including Rs.2

222) S ltd. issued 2000, 10% prefence shares of Rs.100 each at par, which are redeemable at a premium of 10% For the purpose of redumption, the company issued 15000 equity shares of Rs.100 each at premium of 20% per shares. At the time of redemption of prefernce shares, the amount to be transferred by the company to the CRR Account=?

223) During the year 2005-2006, T ltd. issued 20000 12% prefence shares of rs.10 each at a premium of 5%, Which are redemable after 4 years at par. During the year 2010-20111, as the company did not have sufficient cash resources to redeem prefernce shares,it issued 10000, 14% debentures of Rs.10 each at a premium of 10% at the same time of redemption of 12% preference shares, the amount to be transferred to capital redemption reserve=?

224) Prefernce shares amounting to Rs.2,00,000 are redeemed at a premium of 5%, by issue of shares amounting to Rs.1,00,000 at a premium of 10%. The amount to be transferred to capital redemption reserve=?

225) Which of the following statement is not a feature of a Company?

226) In a Government Company, the holding of the Central Government in paid-up capital should not be less than

227) Which of the following statement is true in case of a Foreign Company?

228) Which of the following statements is not a feature of a private company?