Reduction of capital is unlawful except when sanctioned by the court. 10 each fully paid. 0000000016 00000 n
Follow me on YouTube - Dynamic Tutorials and Services. In internal reconstruction, increase in the value of fixed assets is credited to. 11. 19. For writing off the accumulated Josses under the scheme of capital reduction, we debit: 6. Corporate Accounting MCQ Question Bank Reconstruction of Companies. Holding Company Accounts.
(a) Profit (b) Loss (a)No Profit-No Loss (a) nil 5. Consent of creditors is not required if capital reduction involves the writing off of paid up capital lost or not represented by available assets. 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. endstream
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(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 MCQ on Internal Reconstruction : Multiple choice questions and answers December 18, 2021 by Abhimaynu Multiple choice questions and answers 1. Q. Multiple Choice Questions 1)Voluntary winding up: a)If period fixed for the company is expired. 5 per share thus making each share of Rs. Here we are providing Notes , MCQs , Question Bank , Notes on Current Affairs & Many More. Bachelor of Business Administration (BBA). Save my name, email, and website in this browser for the next time I comment. Company Liquidation Accounts. a) 77 b) 100 c) 66 d) 75 2. In case of sub-division of share capital the total number of shares Increases Decreases Does not change. Currently, however, non-invasive language decoders . It is a case of, Answer :- Reducing share capital by returning the excess capital, 5. Merged with another co. Alteration of share capital can be affected by passing an ordinary resolution. 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. Forfeiture and Surrender of shares is a case of capital reduction. in Bangalore here: Software Service All rights reserved. For writing off the accumulated Josses under the scheme of capital reduction, we debit, 6. Bring down the assets to their true values. 500000 divided into 5000 shares of Rs. 10 each fully paid. The reduction of capital is permitted under _____________ of Companies Act.a) 77 b) 100 c) 66 d) 75, 2. 5. Share Capital A/c (10) Dr. 500000. c) X Ltd. Having a share capital of Rs. 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. A company has issued capital of 10,000 equity shares of Rs. Accounting for Internal Reconstruction Multiple choice questions and answers. The expenses for forming and implementing scheme should be debited to ____________ .a) security premium b) share capital c) Internal reconstruction d) capital reduction, 15. 0000001534 00000 n
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Shareholders not approving scheme is called _________ shareholders. 5 fully paid. 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. Any loss on revaluation of the assets at the time of internal reconstruction, will be charged from. 55 0 obj
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Hey Guys, Myself Kumar Nirmal Prasad, a Teacher turned Full time Blogger and Investor. 10 each fully paid decides to repay Rs. 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 Amount sacrificed by shareholders are credited to: 14. Multiple Choice Questions and Answers 1. 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. A company resorts to internal reconstruction or capital reduction only in exceptional circumstances. Consent of creditors is required if capital reduction involves diminution of liability regarding uncalled capital or return of paid up capital. endstream
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Court Confirmation Order has to be registered with the __________ of companies.a) NCLT b) share capital c) Registrar d) none of the above, 19. It decides to convert its capital into 20,000 equity shares of Rs. b) Revenue Profit. #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. 5 per share thus making each share of Rs. A Ltd. with a share capital of 10,000 equity shares of Rs. 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. 16. When a company converts its equity shares into the capital stock, then the account to be credited is , 4. Internal Reconstruction is also known as Capital Reduction. b) X Ltd. Having a share capital of Rs. Cancellation of unissued capital is also a case of capital reduction. 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. Company Final Accounts. 1. Copyright 2023 McqMate. 8) Pre-acquisition profit is a) Capital Profit. Agreement. Vertical Horizontal Conglomerate Demerger trailer
Question and answers in Accounting for Internal Reconstruction. A Ltd. with a share capital of 10,000 equity shares of Rs. When two or more existing companies combine together to form a new company, it is termed as. A company is free to reduce or extinguish the uncalled liability of its members. It is a case of, 9. 5 each. 0000001160 00000 n
throughout their Academic career. When a company converts its equity shares into the capital stock, then the account to be credited is: 4. Holding Company Accounts. capital reduction A/C will be transfer to: Business Ethics and Corporate Social Responsibility (BECSR). Ans: a) Capital Profit. 0000005402 00000 n
__________ 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. Copyright 2023 McqMate. 0000003198 00000 n
The word And reduced cannot be added to the name of the company if no direction has been given by the court. more mcqs. In ____________ , no new company is formed.a) External reconstruction b) Amalgamationc) internal reconstruction d) none of the above, 20. All rights reserved. Accounting for Internal Reconstruction [Set 1] PDF, Accounting for Amalgamation, Absorption and External, Chapter: Accounting for Internal Reconstruction. 500000 divided into 50000 shares of Rs. 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. 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) Download PDF. Equity share capital A/c Dr. 500000, Equity Stock A/c Cr. Valuation of Shares. c) X Ltd. Having a share capital of Rs. Internal reconstruction is done due to .. M.A EXAM :- https://t.me/mastudentsexam, https://www.youtube.com/channel/UCv8JIY58xfWHUIXVu9wxNHw. ,ffFP7(]Pa&i& b+ + bg
Redemption of preference shares is a case of capital reduction. objective of our platform is to assist fellow students in preparing for exams and in their Studies 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. 59 0 obj
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KDaTJj1~' Internal reconstruction result in the reduction of the capital of the company. Win vouchers worth INR 2,000 with our School Referral Program, Ranked Amongst Top 25 Companies by LinkedIn. Only unsuccessful companies undertake capital reduction. 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 Accounting for Amalgamation, Absorption and External. a) X Ltd. Having a share capital of Rs. 100 each, converts it into stock. 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. We provide you study material i.e. Eliminate the accumulated losses from the books. 59 23
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6) Internal reconstruction means a) Amalgamation in nature of merger. b) Absorption. The Capital reduction means reduction in ____________ value of shares.a) authorized capital b) Called up capital c) Uncalled capital d) paidup value, 3. :u4$L"G0cOpe"MH3SIoIe?+-;YH1k G@bV+o hbbd```b``"A$v Accounting for Internal Reconstruction. 22 0 obj
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vt00 answer choices. Main aim of this blog is to provide all academic resources and information's especially for Commerce Stream Students. The word And Reduced is added to the name of the company for such period as the court deems fit. Our website uses cookies to improve your experience. a) authorized capital b) Called up capital c) Uncalled capital 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?$T0!8aq{e_>)I/` #
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Appreciation in the value of land & building is recorded on ________ side of Capital Reduction Account.a) credit b) debit c) both of a & b d) none of the above. a) face b) market c) both of a & b d) none of the above 12. Amalgamation, Absorption & External reconstruction Multiple Choice Questions 1. 5 fully paid. Suraj Patel Education is one of the best blog on Education . 0000003520 00000 n
Redemption of preference shares in accordance with the provisions of section 80 is reduction of preference share capital. 0000003758 00000 n
Shareholders not approving scheme is called _________ shareholders.a) dissenting b) paying c) pay disentient shareholders d) none of the above, 13. 500000 divided into 50000 shares of Rs. Irk#nf`S_Jlhf6+xx?$UZ$yZ}opP~ fCJ[1[nS+\M]_pOgut9qiWb|Tr@r`Xj 8p2_7y#@DZpNS80dJ^3S2RzP3;! 12. 21.Only unsuccessful companies undertake capital reduction. Share Capital A/c (100) Dr. 500000, Share Capital A/c (10) Cr. Amount sacrificed by shareholders are credited to: 13. 500000 divided into 5000 shares of Rs. 23. The fictitious debit balances are to be transferred to ___________ Account.a) internal reconstruction b) security premium c) share capital d) Capital Reduction, 9. The Sub division of shares does not result in ___________ of capital.a) reduction b) added c) Compromise d) none of the above, 4. Internal Reconstruction MCQ (Free) | Capital Reduction September 29, 2021 11. GUD}%DQO}$m|@}L*#{`g5fd4"b~d|{\?1>c:-G $}gKYVAAy)>uvH/4SPHl"@@9HI,+XP f!M7fNG/_M=,(\q
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2g3O\b ^_T_ET_[JD=+x[oct;GYO|T-"['SRt~"7f 1. Friends ye artical ke alava other subject Ke bhi article aapko mere website per mil jaenge jiska link me aapko niche de raha hu. A company must pass a special resolution for reduction of capital. Restructuring Internal Reconstruction 22 State an arrangement whereby the assets of two ro more companies come under the control of one company? reconstruction? more mcqs. 22. hb```f``c`e`icd@ Ar400kPQ{!{GGCG+CP q #s*m,f.HfEZX7``~d1/s ` !
Get the essential details like: The number of papers The frequency of exams The manner of registration and exams, Eligibility, Exemptions, and Exam Dates For ICAI Ca Inter May 2022. 43 0 obj
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Answer :- Increases 2. Accounting for Internal Reconstruction. objective of our platform is to assist fellow students in preparing for exams and in their Studies Our moto is to make Responsible Accountant and Employee of whichever is field whether student be like . /PN|]fR9RW*YGfS{5B:>$VYq&Lop WGV1="]GVR:8M 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 0000001427 00000 n
30 seconds. Ans: c) Capital Reduction. Let's take a quick look at the CA Inter Course before diving into the specifics of the ICAI CA Inter Mcq Notes 2022. gHc >
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Checkout Top Schools Absorption. 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. Q. 17. HUn9}om # /FV.)|[%;$3 >% LMhLI3kve^v2zWl:{ eM>"2+hY$Jddt'i;|` 10 each, consolidated the shares into 5000 shares of Rs. --------- is the account created in connection with internal reconstruction. |:a=Z&v)kgAN"6]tBzy!NS 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. If the ABC Limited and DEF Limited are taken over by a new company XYZ Limited Taken over. AM$|?F9 UY
. Multiple Choice Questions. Turn around. 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. Section 66 of the companies Act governs the internal reconstruction. 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 scheme of internal reconstruction requires approval of ____________ .a) Shareholders b) Central Government c) NCLT d) all the above, 7. 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. 18. It decides to convert its capital into 20,000 equity shares of Rs. In a scheme of reorganisation amount of shares surrendered by shareholders is transferred to: 13. Reduction of capital is unlawful except when sanctioned by the court. 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 %%EOF
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Any loss on revaluation of the assets at the time of internal reconstruction, will be charged from. (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. HQJo.&
;&|&LZ$w$\bRp|)oG@4}=& C8Yn*]izM6fVjAVjEM'#Y+Lx4=_TZ%x9GbmiH2y2R To carry out capital reduction, permission is required from: a) X Ltd. Having a share capital of Rs. Cancellation of unissued capital is also a case of capital reduction. Under Sec. 0000009547 00000 n
It is a case of, 8. A company is free to reduce or extinguish the uncalled liability of its members. External reconstruction. When an existing company takes over the business of one or more existing companies, it is called. HyE$=T0dd$@>%o53mXe@8f2"0(#u8WLfR>|>ug2gcA9
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