Accounting for Share Capital MCQs | Class 12 Accountancy Chapter 1 MCQ Question and Answers

by | Jan 10, 2025 | General | 0 comments

 

Accounting for Share Capital MCQ Question Answers suitable for CUET 2025 from Class 12 Accountancy Chapter 1

To score full marks in the CUET 2025 Accountancy exam, Practice Class 12 Accountancy Chapter 1 Accounting for Share Capital 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 1 MCQs

1. Reserve share capital means:
a.
b.
c.
d.

2. On Money Refunded on Rejected Applications, Which Account is Debited?
a.
b.
c.
d.

3. Second, there must be an interval of at least ______between the making of two calls unless otherwise provided by the articles of association of the company.
a.
b.
c.
d.

4. The profit on reissue of forfeited shares is transferred to:
a.
b.
c.
d.

5. A company issued 4,000 equity shares of Rs. 10 each at par payable as under: On application Rs. 3; on allotment Rs. 2; on first call Rs. 4 and on final call Rs. 1 per share. Applications were received for 10,000 shares. Allotment was made pro-rata. How much amount will be received in cash on allotment?
a.
b.
c.
d.

6. Who are the real owners of a company?
a.
b.
c.
d.

7. Interest on calls in arrears is charged according to “Table F” at
a.
b.
c.
d.

8. Application money is never less than __ of face value.
a.
b.
c.
d.

9. Paid up Capital is that portion of the ______ which has been actually received from the shareholders.
a.
b.
c.
d.

10. When shares are forfeited, the Share Capital Account is debited with:
a.
b.
c.
d.

11. On an equity share of Rs. 10 the company has called up Rs. 8 but Rs. 6 have been received by the company is forfeited, the capital account should be debited by:
a.
b.
c.
d.

12. Which Company Limits the number of its Maximum members to 200?
a.
b.
c.
d.

13. The Amount of buy back of shares in any financial year should not exceed ____ of the paid-up capital and free reserves.
a.
b.
c.
d.

14. The period between the grant date and the date on which all the specified vesting conditions of an Employees Stock Option Plan (ESOP) need to be satisfied is called _____-
a.
b.
c.
d.

15. If the amount of minimum subscription is not received to the extent of ____, the issue dissolves.
a.
b.
c.
d.

16. If shares having Face value of Rs.4,00,000 are issued for purchase of assets of Rs.5,00,000, Rs.1,00,000 will be treated as____
a.
b.
c.
d.

17. Rahul holding 5000 Shares of Refinery Ltd. paid the amount of call @ Rs. 5 per share on 1st November 2018 whereas the call was due on 1st March 2019. Interest on calls in Advance as per Table F will be Calculated as
a.
b.
c.
d.

18. Shares now can be issued at ______
a.
b.
c.
d.

19. Boss Ltd. issued 39550 equity shares Rs. 10 each at 9.5 % premium. All shares were subscribed and amount was received. Which of the amount to be transferred to Securities Premium Reserve A/c?
a.
b.
c.
d.

20. A company forfeited 400 shares of 10 each on which application money of 3 has been paid. Out of these 2,000 shares were reissued as fully paid up and 4,000 has been transferred to capital reserve. Calculate the rate at which these shares were reissued:
a.
b.
c.
d.


 

 

To summarize, revising for free using our MCQs on Class 12 Accountancy Chapter 1 Accounting for Share Capital 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 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)

Issue and redemption of debentures MCQs Class 12 Accountancy Chapter 2 (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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