Issue and redemption of debentures MCQs | Class 12 Accountancy Chapter 2 (Part 2) MCQ Question and Answers

by | Jan 10, 2025 | General | 0 comments

 

Issue and redemption of debentures MCQ Question Answers suitable for CUET 2025 from Class 12 Accountancy Chapter 2 (Part 2)

To score full marks in the CUET 2025 Accountancy exam, Practice Class 12 Accountancy Chapter 2 (Part 2) Issue and redemption of debentures MCQ Test any number of times free on our website. These questions have been created by our experts from the latest Class 12 Accountancy Syllabus and as per latest exam pattern. Multiple Choice Questions (MCQs) are a type of objective assessment in which a person is asked to choose one or more correct answers from a list of available options. An MCQ presents a question along with several possible answers. Most of the exams in India including the CUET exam conduct an online test to check your knowledge.

Class 12 Accountancy Chapter 2 (Part 2) MCQs

1. Which of the following statement is false?
a.
b.
c.
d.

2. Rajesh & co. Ltd. purchased assets worth Rs. 28,80,000. It issued debentures of Rs. 100 each at a discount of 4 per cent in full satisfaction of the Purchase Consideration. The number of debentures issued to vendor is:
a.
b.
c.
d.

3. Discount or Loss on issue of debentures is a ______and is written-off in the year when debentures are issued.
a.
b.
c.
d.

4. If Vendors are issued debentures of Rs.4,40,000 in consideration of assets of Rs. 5,00,000 and liabilities of Rs. 1,00,000, the balance of Rs.40,000 will be debited to:
a.
b.
c.
d.

5. Renegades Ltd. issues 20,000, 9% debentures of Rs.100 each at a discount of 5% redeemable at the end of 5 years at a premium of 6%. For what amount ‘Loss on Issue of Debentures Account’ will be debited?
a.
b.
c.
d.

6. When debentures are to be redeemed at premium an extra entry has to be made at the time of issue of debentures, which A/c should be credited in entry?
a.
b.
c.
d.

7. Interest accrued and due on debentures is shown under which main head?
a.
b.
c.
d.

8. Question
a.
b.
c.
d.

9. Using Second Method, Which Account Is to debited When Debentures are Issued of 10,000, 9% debentures of Rs. 100 each as collateral security for bank loan of Rs. 10,00,00
a.
b.
c.
d.

10. Way(s) of Redemption of Debentures
a.
b.
c.
d.

11. Question
a.
b.
c.
d.

12. Profit on cancellation of own debentures is transferred to _____________
a.
b.
c.
d.

13. On payment of tax deducted at source to the Government Which Account is debited ___. (Payment of tax deducted at source on interest on debentures)
a.
b.
c.
d.

14. Which Option is Correct in Purview of Debentures?
a.
b.
c.
d.

15. Wellington Ltd. Bought a Machinery for Rs.5,00,000 payable as 15% in cash and balance by allotment of 9% debentures of Rs.100 each at a premium of 25%. Number of debentures issued will be:
a.
b.
c.
d.

16. Excess value of net assets over purchase consideration at the time of purchase of business is credited to:
a.
b.
c.
d.

17. Discount on issue of debentures to be written off within 12 months of the balance sheet date or the period of operating cycle is shown under _____
a.
b.
c.
d.

18. When Debentures are issued at a discount, Which Account Is Debited
a.
b.
c.
d.

19. A ______may be defined as a subsidiary or secondary or additional security besides the primary security when a company obtains a loan or overdraft from a bank or any other financial Institution
a.
b.
c.
d.

20. Debentures are Classified Based on What Basis?
a.
b.
c.
d.


 

 

To summarize, revising for free using our MCQs on Class 12 Accountancy Chapter 2 (Part 2) Issue and redemption of debentures is highly beneficial for scoring full marks on the CUET 2025 Accountancy exam. We provide a sophisticated online test platform tailored for unlimited practice through proficiently crafted questions built on the most recent syllabus and exam pattern. Practicing MCQs regularly will boost conceptual understanding as they are significant for objective assessments. Start practicing now to succeed in your CUET 2025 Accountancy exam!

Also See : 

Class 12 Accountancy Part 1

Accounting for share capital MCQs Class 12 Accountancy Chapter 1 (Part 1)

Accounting for partnership: basic concepts MCQs Class 12 Accountancy Chapter 2 (Part 1)

Financial statements of a company MCQs Class 12 Accountancy Chapter 3 (Part 1)

Analysis of financial statements MCQs Class 12 Accountancy Chapter 4 (Part 1)

Accounting ratios MCQs Class 12 Accountancy Chapter 5 (Part 1)

Cash flow statement MCQs Class 12 Accountancy Chapter 6 (Part 1)

Class 12 Accountancy Part 2

Accounting for not for profit organisation MCQs Class 12 Accountancy Chapter 1 (Part 2)

Reconstitution of a partnership firm – admission of a partner MCQs Class 12 Accountancy Chapter 3 (Part 2)

Retirement/death of a partner MCQs Class 12 Accountancy Chapter 4 (Part 2)

Dissolution of partnership firm MCQs Class 12 Accountancy Chapter 5 (Part 2)

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