MCQ for CA Foundation Accounting Chapter 10 COMPANY ACCOUNTS
Sample Multiple Choice Questions (MCQ's) for CA Foundation - Paper 1 - Principal and Practice of Accounting - Chapter CHAPTER 10: COMPANY ACCOUNTS - For Practice relevant for Dec 22 and May/June 23 Examinations
Q:1 In a Government Company, the holding of the Central Government in paid-up capital should not be less than
Q:2 Which of the following statement is true in case of a Foreign Company?
- A Company incorporated in India and has place of business outside India.
- A Company incorporated outside India and has a place of business in India.
- A Company incorporated in India and has a place of business in India.
Q:3 Dividends are usually paid as a percentage of ______.
- Authorized share capital
- Net profit
- Paid-up capital
Q:4 As per the SEBI guidelines, on issue of shares, the application money should not be less than
- 5% of the nominal value of shares
- 5% of the issue price of shares
- 0% of the issue price of shares
Q:5 When debentures are issued as collateral security, the final entry for recording the collateral debentures in the books is __________.
- Credit Debentures A/c and debit Cash A/c.
- Debit Debenture suspense A/c and credit Cash A/c.
- Debit Debenture suspense A/c and credit Debentures A/c.
Q:6 When debentures are redeemable at different dates, the total amount of discount on issue of debentures should be written off
- Every year by applying the sum of the year’s digit method
- Every year by applying the straight line method
- To profit and loss account in full in the year of final or last redemption
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