MCQ for CA Intermediate LAW - PART 1 - CORPORATE LAWS - Chapter 8 - DECLARATION AND PAYMENT OF DIVIDEND

Sample Multiple Choice Questions (MCQ's) for CA Intermediate - Paper 2 - Corporate and Other Laws - PART 1 - Corporate Laws - Chapter 8: DECLARATION AND PAYMENT OF DIVIDEND - For Practice relevant for May/November 23 Examinations

 

Q:1 The balance of reserve after withdrawal for dividend shall not fall below…………% of its paid up share capital as appearing in the latest audited financial statement.

  1. 5
  2. 10
  3. 15
  4. 20

Answer: 3

Q:2 Dividend can be declared out of

  1. Securities premium reserve
  2. Capital reserve
  3. General reserve
  4. All of the above

Answer: 3

Q:3 Investor Education and Protection Fund(IEPF) shall be utilized for

  1. refund of unclaimed and unpaid amounts
  2. promotion of investors awareness
  3. Protection of the interests of investors
  4. All of the above

Answer:4

Q:4 Dividend is payable to………….

  1. Registered shareholder
  2. Order of registered shareholders
  3. Banker of shareholder
  4. Any of the above

Answer: 4

Q:5 For declaration of Dividend out of accumulated profits, the rate of dividend declared shall not exceed the average of the rates at which dividend was declared by it in the… years immediately preceding that year.

  1. 2
  2. 3
  3. 5
  4. 7

Answer: 2

Q:6 Dividend on these shares is payable even out of future profit if current year’s profits are insufficient for the purpose.

  1. Equity shares
  2. Bonus Equity shares
  3. cumulative preference shares
  4. Non-cumulative preference shares

Answer: 3

Q:7 The company shall be liable to pay simple interest at the rate of ……. % p.a. during the period for which default in payment of dividend continues.

  1. 12
  2. 15
  3. 18
  4. 21

Answer: 3

 

CA Intermediate LAW - PART 1 - Corporate Laws - MCQ for Chapter 9 -   

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