DOE ONLINE CLASS TEST- ISSUE OF SHARES (CLASS XII)

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This form is based on the learning through online classes organized by DOE , GNCT of Delhi.
Prepared by Ms. Alka Jain, Lecturer Commerce , ASMS SKV , MAHIPALPUR with the help of team members Mr. Arun kumar Sethi , Ms. Anita Kardam , Ms. Neelam Sharma , Mr. Mukesh Sharma , Mr. Shivam kumar , Mr. Tarun Mittal and Mr. Puneet Gola.

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Name of the Student *

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Ques. 1 Shares are always issued at par . Given statement is : *

1 point

True

False

Ques 2. Which of the following represents the excess of issued price over the nominal value of shares ? *

1 point

Share capital

Profit of the company

Issue of shares at par

Premium on issue of shares

Ques 3. When shares are issued at premium , then premium is : *

1 point

Profit

Loss

Capital receipt

Revenue receipt

Ques 4. Calculate the amount of 2nd & final call per share when company issues its shares @ Rs. 20 each at a premium of 20% payable Rs. 6 on application , Rs. 8 on allotment ,Rs. 4 on 1st call . *

1 point

Rs. 2

Rs. 6

Rs. 3

Rs. 4

Ques 5. As per section 52(2) of the Companies Act , 2013 , amount collected as premium on securities cannot be utilised for : *

1 point

Issuing fully paid bonus shares

Purchase of fixed assets

Writing off preliminary expenses

Buy back of its own shares

Ques 6. A co. issues 15,000 shares @ Rs. 10 per share. Amount payable : Rs. 4 on application & Rs. 6 on allotment. Public applied for 15,000 shares . Application money received by the company will be : *

1 point

Rs. 6,00,000

Rs. 1,50,000

Rs. 60,000

Rs. 90,000

Ques 7. In case of issue of shares at premium , the amount of premium can be collected by the company: *

1 point

along with calls

along with allotment money

along with application money

along with any of the above.

Ques 8. Web Ltd. invited application for 10,000 shares @ Rs. 10 each . Applications were received for 9,500 shares. This situation is called : *

1 point

Full subscription of shares

Under subscription of shares

None of the above

Both of the above

Ques 9. Bixby Ltd. issues 45,000 shares @ Rs. 30 per share . Whole amount was payable on application . Which account will be credited while receiving application money : *

1 point

Share application a/c

Share allotment a/c

Share application & allotment a/c

Bank a/c

Ques 10. TSX Ltd. invited application for 25,000 shares @ Rs. 20 per share . Public applied for 24,000 shares . While receiving application money , Bank a/c will be debited by : *

1 point

Rs.5,00,000

Rs.4,80,000

Rs.5,20,000

Rs.4,00,000

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