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To carry out capital reduction, permission is required from: 14. Follow me on YouTube - Dynamic Tutorials and Services. After the implementation of the scheme of internal reconstruction , any surplus in capital reduction A/C is transferred to : Reduction of share capital is possible by the company, if it is authorized by its: MCQs for Related Topics Zeitgeist- Reading on Contemporary Culture . throughout their Academic career. 500000 divided into 50000 shares of Rs. Corporate Accounting MCQ Question Bank Reconstruction of Companies. Reduction of capital is unlawful except when sanctioned by the court. Shareholders not approving scheme is called _________ shareholders. If the ABC Limited and DEF Limited are taken over by a new company XYZ Limited Vertical Horizontal Conglomerate Demerger Accounting for Amalgamation, Absorption and External. 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. 11. 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. A company must pass a special resolution for reduction of capital. objective of our platform is to assist fellow students in preparing for exams and in their Studies MULTIPLE CHOICE QUESTIONS 1. 5 per share thus making each share of Rs. 0000002930 00000 n
16. /PN|]fR9RW*YGfS{5B:>$VYq&Lop WGV1="]GVR:8M A company resorts to internal reconstruction or capital reduction only in exceptional circumstances. The difference in revaluation of assets is to be transferred to ___________ Account.a) internal reconstruction b) Capital Reduction c) security primium d) capital reserve, 10. 21.Only unsuccessful companies undertake capital reduction. 22. Share Capital A/c (10) Dr. 500000. c) X Ltd. Having a share capital of Rs. :u4$L"G0cOpe"MH3SIoIe?+-;YH1k G@bV+o Valuation of Shares. hbbd```b``"A$v Checkout Top Schools endstream
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Multiple Choice Questions 1)Voluntary winding up: a)If period fixed for the company is expired. answer choices. Appreciation in the value of land & building is recorded on ________ side of Capital Reduction Account.a) credit b) debit c) both of a & b d) none of the above. 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 Consent of creditors is not required if capital reduction involves the writing off of paid up capital lost or not represented by available assets. Merged with another co. If there is any balance in the capital reduction account after writing off all the accumulated losses, then the same is transferred to , 7. Under which of the following circumstances can a company resort to internal reconstruction? Equity share capital A/c Dr. 500000, Equity Stock A/c Cr. In internal reconstruction, increase in the value of fixed assets is credited to. A company has issued capital of 10,000 equity shares of Rs. Consent of creditors is required if capital reduction involves diminution of liability regarding uncalled capital or return of paid up capital. 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. Consent of creditors is required if capital reduction involves diminution of liability regarding uncalled capital or return of paid up capital. 1. (a) Profit (b) Loss (a)No Profit-No Loss (a) nil 5. 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 . a) 77 b) 100 c) 66 d) 75 2. 10 each fully paid. Answer :- Increases 2. Holding Company Accounts. trailer
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2t0 b) Absorption. In case of sub-division of share capital the total number of shares, 2. Copyright 2023 McqMate. The expenses for forming and implementing scheme should be debited to ____________ .a) security premium b) share capital c) Internal reconstruction d) capital reduction, 15. The Capital reduction means reduction in ____________ value of shares. ,ffFP7(]Pa&i& b+ + bg
For writing off the accumulated Josses under the scheme of capital reduction, we debit, 6. The term Internal Reconstruction means: 7. 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. 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 HUn9}om # 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 Cancellation of unissued capital is also a case of capital reduction. M.A EXAM :- https://t.me/mastudentsexam, https://www.youtube.com/channel/UCv8JIY58xfWHUIXVu9wxNHw. 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 2. 59 23
Taken over. 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. Download PDF. 1)66 2)paidup value 3)reduction 4)re-issue, cancellation 5)assets and liabilities 6)NCLT 7)Special 8)Capital Reduction 9)Capital Reduction 10)capital reduction or internal reconstruction, 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, MCQs on other topics of Financial Accounting, Financial Accounting Mcqs | More Than 700 Free MCQs, 12th SP Chapter 6 Solution (Correspondence with Members) Maharashtra Board Free Solution. a) authorized capital b) Called up capital c) Uncalled capital The Capital reduction means reduction in ____________ value of shares.a) authorized capital b) Called up capital c) Uncalled capital d) paidup value, 3. Bring down the assets to their true values. In ____________ , no new company is formed.a) External reconstruction b) Amalgamationc) internal reconstruction d) none of the above, 20. Internal Reconstruction MCQ (Free) | Capital Reduction September 29, 2021 11. c) Capital Reduction. --------- is the account created in connection with internal reconstruction. Save my name, email, and website in this browser for the next time I comment. Amount sacrificed by shareholders are credited to: 13. A Ltd. with a share capital of 10,000 equity 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. xref
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2g3O\b ^_T_ET_[JD=+x[oct;GYO|T-"['SRt~"7f reconstruction? capital reduction A/C will be transfer to: Business Ethics and Corporate Social Responsibility (BECSR). Ans: a) Capital Profit. 10 each fully paid decides to repay Rs. Accounting procedure when internal reconstruction made 36) 7. 1. 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: 26. Amalgamation. The word And Reduced is added to the name of the company for such period as the court deems fit. We provide you study material i.e. Friends ye artical ke alava other subject Ke bhi article aapko mere website per mil jaenge jiska link me aapko niche de raha hu. It is a case of, 9. It decides to convert its capital into 20,000 equity shares of Rs. 3. 30 seconds. All rights reserved. 0000007752 00000 n
20. Redemption of preference shares in accordance with the provisions of section 80 is reduction of preference share capital. 500000. b) X Ltd. Having a share capital of Rs. 0000002299 00000 n
Save my name, email, and website in this browser for the next time I comment. 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
Accounting for Internal Reconstruction Multiple choice questions and answers. wound up. #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 In which of the following cases, procedure of reduction of capital is not called for: 11. 10. No journal entry is required for cancellation of unissued share capital. Computerized Accounting Practices. According to sec. startxref
The Shareholders can surrender shares for ________ or ____________ .a) re-issue, cancellation b)Fresh Issue, Redemption c) none of the above, 5. McqMate.com is an educational platform, Which is developed BY STUDENTS, FOR STUDENTS, The only Under which of the following circumstances can a company resort to internal 500000 divided into 5000 shares of Rs. 0000003520 00000 n
In case of sub-division of share capital the total number of shares Increases Decreases Does not change. No journal entry is required for cancellation of unissued share capital. 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. Court Confirmation Order has to be registered with the __________ of companies.a) NCLT b) share capital c) Registrar d) none of the above, 19. Number 8/2 & 9, Sarjapur Road, Bengaluru, Karnataka- 560 103. |:a=Z&v)kgAN"6]tBzy!NS 0000008674 00000 n
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. 0000009547 00000 n
Question and answers in Accounting for Internal Reconstruction. Suraj Patel Education is one of the best blog on Education . The scheme of internal reconstruction involves ___ company. For writing off the accumulated Josses under the scheme of capital reduction, we debit: 6. 0000000756 00000 n
hTA0>C. in Bangalore here: Software Service 1. It is a case of: (i) Reducing share capital by returning the excess capital, (ii) Reducing the liability on account of uncalled capital. In case of Internal Reconstruction , the company is. Internal reconstruction result in the reduction of the capital of the company. In case of , one existing company takes over the business of another company and no new company is formed #2 MCQ for TYBCOM Sem 5 - Internal Reconstruction MCQ's - Financial AccountingThis lecture series contains all the MCQs related to TYBCOM Sem 5 - Financial A. 23. The Sub division of shares does not result in ___________ of capital.a) reduction b) added c) Compromise d) none of the above, 4. s (a) 1 (b) 2 (a)3 (a) many 4. 0000006175 00000 n
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Accounting Standard for amalgamation is: AS-3 AS-9 AS-12 AS-14 (AS-14 deals with accounting for amalgamation) Answer :- AS-14 (AS-14 deals with accounting for amalgamation) 2. according to AS - 14, purchase consideration is the sum of payments made to the: Debenture holders and Shareholders Shareholders 19. The term "Internal Reconstruction" means: (i) Reduction of Share Capital (ii) Variation of Shareholder's right (iii) Alternation of share capital (iv) All of the above 7. 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 Ans: c) Capital Reduction. 0000001427 00000 n
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Internal Reconstruction MCQ MCQs on other topics of Financial Accounting Cost Accounting MCQs pdf 1. If the creditors are willing to reduce their claims against the company, (hen the amount of reduction in their claim will be transferred to, 10. In internal reconstruction, the existing company will be . Multiple Choice Questions. 10 each. 10 each fully paid. 11. 500000 divided into 5000 shares of Rs. 5 each. 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 HUB, Sy. Alteration of share capital can be affected by passing an ordinary resolution. Any loss on revaluation of the assets at the time of internal reconstruction, will be charged from. HQJo.&
;&|&LZ$w$\bRp|)oG@4}=& C8Yn*]izM6fVjAVjEM'#Y+Lx4=_TZ%x9GbmiH2y2R 10 each, consolidated the shares into 5000 shares of Rs. Restructuring Internal Reconstruction 22 State an arrangement whereby the assets of two ro more companies come under the control of one company? Accounting for Internal Reconstruction. 500000 divided into 50000 shares of Rs. https://www.surajpateleducation.com/2021/01/marketing-research-tybcom-mcq-pdf.html, https://www.surajpateleducation.com/2020/12/human-resource-management-tybcom-mcq.html, https://www.surajpateleducation.com/2020/12/cost-accounting-tybcom-mcq-pdf.html, https://www.surajpateleducation.com/2020/10/mcom-tybcom-indirect-tax-20-most.html, https://www.surajpateleducation.com/2020/09/direct-tax-sem-v-atkt-question-bank-2020.html, Strategic Management Question Bank Than Pay Rs 100 Only, Dosto Agar App Vedio Dekhana Chate Ho Related Education To Aap Mere Youtube Channel Par Jaskate Ho Dosto Niche Link Derha Hu, DIRECT TAX SEM V (ATKT) Question Bank-2020, F.Y.B.COM Environmental Studies MCQ PDF | Environmental Studies MCQ, T.Y.B.COM MCQ | T.Y.B.COM Mumbai University All Subject MCQ, ADVANCED CORPORATE ACCOUNTING M.COM PART 1 MCQ. Eliminate the accumulated losses from the books. 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. 0000001534 00000 n
Computerized Accounting Practices. Internal Reconstruction is also known as Capital Reduction. 10 each, consolidated the shares into 5000 shares of Rs. objective of our platform is to assist fellow students in preparing for exams and in their Studies 18. Company Final Accounts. 94 of the companies act, a limited company can increase, sub-divide or consolidate all or part of its existing share if authorised by its articles of association. 5 fully paid. Multiple Choice Questions and Answers 1. 100 each. The fictitious debit balances are to be transferred to ___________ Account.a) internal reconstruction b) security premium c) share capital d) Capital Reduction, 9. more mcqs. Ans: b) Revenue Profit. I am also working on some other websites which will be published soon. /FV.)|[%;$3 >% LMhLI3kve^v2zWl:{ eM>"2+hY$Jddt'i;|` 0000000016 00000 n
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5 per share thus making each share of Rs. U,]]. Q. In a scheme of reorganization amount of shares surrendered by shareholders is transferred to: 12. J%7uI 8vjYZOM}r,2s.Z 'Xj:8A3v8^X.x=a4$ We provide you study material i.e. 30 seconds. 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. 0000006983 00000 n
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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. Currently, however, non-invasive language decoders . Agreement. In a scheme of reorganisation amount of shares surrendered by shareholders is transferred to: 13. Alteration of share capital can be affected by passing an ordinary resolution. Q. b) Revenue Profit. JD%@"i0iB*c`EX In which of the following cases, procedure of reduction of capital is not called for: (iii) Surrender of shares or gift of shares. Our moto is to make Responsible Accountant and Employee of whichever is field whether student be like . Amount sacrificed by shareholders are credited to: 14. 7) Post-acquisition Profit is a) Capital Profit. 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. a) face b) market c) both of a & b d) none of the above 12. Amalgamation, Absorption & External reconstruction Multiple Choice Questions 1. The word And reduced cannot be added to the name of the company if no direction has been given by the court. hVN;?*:_ The objective of reconstruction is to write off ___________ .a) profit b) accumulated losses c) nil d) none of the above, 18. Holding Company Accounts. Internal reconstruction is done due to .. State whether the following statements are True or False: According to sec. 10 each. When two or more existing companies combine together to form a new company, it is termed as. It decides to convert its capital into 20,000 equity shares of Rs. External reconstruction. The scheme of internal reconstruction requires approval of ____________ .a) Shareholders b) Central Government c) NCLT d) all the above, 7. 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 : Section 66 of the companies Act governs the internal reconstruction. Forfeiture and Surrender of shares is a case of capital reduction. 0000040014 00000 n
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|4 It is a case of, Answer :- Reducing share capital by returning the excess capital, 5. 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. 500000, Micro Economics Notes and Important Questions, Reducing share capital by returning the excess capital, Reducing the liability on account of uncalled capital. HyE$=T0dd$@>%o53mXe@8f2"0(#u8WLfR>|>ug2gcA9
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KZCO2IJaDR,~Tt,!Oq]RA>z$\IU 100 each, converts it into stock. In case of sub-division of share capital the total number of shares: 2. 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. Attend Live Classes using Any Device be it Phone, Tablet or Computer, 5th Floor, North Wing, SJR The cancellation of contingent liability is____ for company. Copyright 2023 McqMate.
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Manan Prakashan 1 CHAPTER - 1 : AMALGAMATION, ABSORBTION AND EXTERNAL RECONSTRUCTION (AS - 14) MULTIPLE CHOICE QUESTIONS. Accounting for Internal Reconstruction [Set 1] PDF, Accounting for Amalgamation, Absorption and External, Chapter: Accounting for Internal Reconstruction.
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