Cancellation of unissued capital is also a case of capital reduction. A company must pass a special resolution for reduction of capital. s Learn more. 500000 divided into 5000 shares of Rs. . Accounting for Internal Reconstruction [Set 1] PDF, Accounting for Amalgamation, Absorption and External, Chapter: Accounting for Internal Reconstruction. 500000 divided into 50000 shares of Rs. HUn9}om # Reduction of capital is unlawful except when sanctioned by the court. When a company converts its equity shares into the capital stock, then the account to be credited is , 4. Section 66 of the companies Act governs the internal reconstruction. The Capital reduction means reduction in ____________ value of shares.a) authorized capital b) Called up capital c) Uncalled capital d) paidup value, 3. 100 each, converts it into stock. 0000001960 00000 n
Get the essential details like: The number of papers The frequency of exams The manner of registration and exams, Eligibility, Exemptions, and Exam Dates For ICAI Ca Inter May 2022. Manan Prakashan 1 CHAPTER - 1 : AMALGAMATION, ABSORBTION AND EXTERNAL RECONSTRUCTION (AS - 14) MULTIPLE CHOICE QUESTIONS. HyE$=T0dd$@>%o53mXe@8f2"0(#u8WLfR>|>ug2gcA9vQ]EFk`K%>)U"ih$OVFMGo&g2y.#d4H(!V$$
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KZCO2IJaDR,~Tt,!Oq]RA>z$\IU 1. If there is any balance in the capital reduction account after writing off all the accumulated losses, then the same is transferred to: 8. If the creditors are willing to reduce their claims against the company, (hen the amount of reduction in their claim will be transferred to, 9. Accounting for Amalgamation, Absorption and External. 23. Reduction of capital is unlawful except when sanctioned by the court. PDFs for offline use. We take free online Practice/Mock test for exam preparation. Each MCQ is open for further discussion on discussion page. All the services offered by McqMate are free. capital reduction A/C will be transfer to: Business Ethics and Corporate Social Responsibility (BECSR). answer choices. Computerized Accounting Practices. MCQ on Internal Reconstruction : Multiple choice questions and answers December 18, 2021 by Abhimaynu Multiple choice questions and answers 1. In a scheme of reorganisation amount of shares surrendered by shareholders is transferred to: 13. 0000031742 00000 n
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Accounting procedure when internal reconstruction made 36) 7. After the implementation of the scheme of internal reconstruction , any surplus in capital reduction A/C is transferred to : Reduction of share capital is possible by the company, if it is authorized by its: MCQs for Related Topics Zeitgeist- Reading on Contemporary Culture . In case of sub-division of share capital the total number of shares Increases Decreases Does not change. b) Revenue Profit. a) dissenting b) paying c) pay disentient shareholders A company resorts to internal reconstruction or capital reduction only in exceptional circumstances. The reduction of capital is permitted under _____________ of Companies Act.a) 77 b) 100 c) 66 d) 75, 2. 10 each fully paid decides to repay Rs. 0000009547 00000 n
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94 of the companies act, a limited company can increase, sub-divide or consolidate all or part of its existing share if authorised by its articles of association. b) X Ltd. Having a share capital of Rs. 10 each fully paid. 0
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10 each fully paid decides to repay Rs. Multiple Choice Questions and Answers (MCQs), Financial Statement and Financial Statements Analysis, MCQ on Internal Reconstruction and Capital Reduction.
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500000 divided into 5000 shares of Rs. Consent of creditors is required if capital reduction involves diminution of liability regarding uncalled capital or return of paid up capital. McqMate.com is an educational platform, Which is developed BY STUDENTS, FOR STUDENTS, The only hTA0>C. Alteration of share capital can be affected by passing an ordinary resolution. 500000 divided into 5000 shares of Rs. The Capital reduction means reduction in ____________ value of shares. 1. :u4$L"G0cOpe"MH3SIoIe?+-;YH1k G@bV+o In internal reconstruction, the existing company will be . After the implementation of scheme of internal reconstruction, any amount left in the capital reduction A/C will be transfer to: For amalgamation in the nature of merger, the shareholders holding at least or more of the equity shares of the transferor company becomes the equity shareholders of the transferee company. The scheme of internal reconstruction involves ___ company. It decides to convert its capital into 20,000 equity shares of Rs. Company Liquidation Accounts. U,]]. When an existing company takes over the business of one or more existing companies, it is called. 26. Our moto is to make Responsible Accountant and Employee of whichever is field whether student be like . hbbd```b``"A$v 55 0 obj
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Company Liquidation Accounts. The internal reconstruction results in proper valuation of _________ and __________ of companies.a) Profit & Loss Account b) reserve & surplus c) assets and liabilities d) none of the above, 6. In case of Internal Reconstruction payment of contingent liability is debited to a) Profit & Loss A/c b) Capital Reduction A/c c) Realisation A/c d) Other 53) Any gain on payment of liability under External Reconstruction is credited to Redemption of preference shares is a case of capital reduction. Solved MCQs for Accounting for Internal Reconstruction, Accounting for Internal Reconstruction MCQs with answers PDF download, Bachelor of Business Administration (BBA), Human Resource Management Principles and Functions, Reading on Indian Constitution, Secularism and Sustainable Environment, Transactions- Essential English Language Skills. 1. PDFs for offline use. We take free online Practice/Mock test for exam preparation. Each MCQ is open for further discussion on discussion page. All the services offered by McqMate are free. 10 each, consolidated the shares into 5000 shares of Rs. 0000002299 00000 n
Capital Reduction Account is ________ by payment of reconstruction expenses.a) credited b) debited c) Cash Account d) none of the above, 17. b) Absorption. It is a case of: (i) Reducing share capital by returning the excess capital, (ii) Reducing the liability on account of uncalled capital. reconstruction? Let's take a quick look at the CA Inter Course before diving into the specifics of the ICAI CA Inter Mcq Notes 2022. AM$|?F9 UY
Shareholders not approving scheme is called _________ shareholders.
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McqMate.com is an educational platform, Which is developed BY STUDENTS, FOR STUDENTS, The only Absorption. If there is any balance in the capital reduction account after writing off all the accumulated losses, then the same is transferred to: (i) Share capital account Answer :- Increases 2. All rights reserved. Ixdp]A:DKp
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A scheme of __________ or __________ mean the scheme having same effect.a) capital reduction or internal reconstruction b) Capital Reduction or External reconstructionc) none of the above. 6) Internal reconstruction means a) Amalgamation in nature of merger. Equity share capital A/c Dr. 500000, Equity Stock A/c Cr. /PN|]fR9RW*YGfS{5B:>$VYq&Lop WGV1="]GVR:8M In ____________ , no new company is formed.a) External reconstruction b) Amalgamationc) internal reconstruction d) none of the above, 20. 3. 0
c) Capital Reduction. #2 MCQ for TYBCOM Sem 5 - Internal Reconstruction MCQ's - Financial AccountingThis lecture series contains all the MCQs related to TYBCOM Sem 5 - Financial A. Shareholders not approving scheme is called _________ shareholders.a) dissenting b) paying c) pay disentient shareholders d) none of the above, 13. If the creditors are willing to reduce their claims against the company, (hen the amount of reduction in their claim will be transferred to, 10. objective of our platform is to assist fellow students in preparing for exams and in their Studies The expenses for forming and implementing scheme should be debited to ____________ .a) security premium b) share capital c) Internal reconstruction d) capital reduction, 15. It is a case of, 8. In case of Internal Reconstruction , the company is. In case of , one existing company takes over the business of another company and no new company is formed 100 each, subdivided the shares into 50000 shares of Rs. The term Internal Reconstruction means: 7. Currently, however, non-invasive language decoders . The Balance Sheet prepared after implementation of the scheme is to be prepared as per ____________.a) Schedule IV b) Schedule VI c) Schedule II d) Schedule III, 14. I am also working on some other websites which will be published soon. (ii) Internal Reconstruction: Internal reconstruction means a recourse undertaken to make necessary changes in the capital structure of a company without liquidating the existing company. Accounting Standard for amalgamation is: AS-3 AS-9 AS-12 AS-14 (AS-14 deals with accounting for amalgamation) Answer :- AS-14 (AS-14 deals with accounting for amalgamation) 2. according to AS - 14, purchase consideration is the sum of payments made to the: Debenture holders and Shareholders Shareholders 5 fully paid. Internal Reconstruction is also known as Capital Reduction. 4~"\ Agreement. throughout their Academic career. Amount sacrificed by shareholders are credited to: 14. Court Confirmation Order has to be registered with the __________ of companies.a) NCLT b) share capital c) Registrar d) none of the above, 19. The scheme of internal reconstruction requires approval of ____________ .a) Shareholders b) Central Government c) NCLT d) all the above, 7. 5 fully paid. The video explains important mcqs on Internal Reconstruction of company #Capital Reduction #Account To carry out capital reduction, permission is required from: 14. If the shares of smaller denomination-are converted into the shares of higher denomination without changing the total amount of share capital, then it is a case of: (iii) Decrease in unissued share capital. a) X Ltd. Having a share capital of Rs. Suraj Patel Education is one of the best blog on Education . A company has issued capital of 10,000 equity shares of Rs. A company is free to reduce or extinguish the uncalled liability of its members. 0000001160 00000 n
hVN;?*:_ For writing off the accumulated Josses under the scheme of capital reduction, we debit, 6. Multiple Choice Questions. Copyright 2023 McqMate. Number 8/2 & 9, Sarjapur Road, Bengaluru, Karnataka- 560 103. A Ltd. with a share capital of 10,000 equity shares of Rs. JD%@"i0iB*c`EX throughout their Academic career. Internal reconstruction is done due to .. d:b%aE2ag,jO=7^Mq*YTW%s\QQ]7,Z >cDu061`xxg]Q9*!:z5~m^&Wi=DJ?^rt3@Ey7ogblH@Pb If the shares of smaller denomination-are converted into the shares of higher denomination without changing the total amount of share capital, then it is a case of, 3. Attend Live Classes using Any Device be it Phone, Tablet or Computer, 5th Floor, North Wing, SJR xref
I am Gold educator on teachmint online live classes app, I am Post Graduate from Commerce and Direct Course of Law, We have provide all courses of Commerce as well as banking and IBPS Competitive exam Course and also provide Tally Erp 9 + GST Module at offline Training mode. #2 MCQ for TYBCOM Sem 5 - Internal Reconstruction MCQ's - Financial AccountingThis lecture series contains all the MCQs related to TYBCOM Sem 5 - Financial AccountingFinancial Accounting MCQs Link:https://scholarsclasses.com/blog/preparation-of-final-accounts-of-companies-mcq/TYBCOM Sem 5 MCQs Link:https://scholarsclasses.com/blog/tybcom-sem-5-mcq/TYBCOM Sem 5 MCQs Lecture link:https://youtube.com/playlist?list=PLJ_81_DlRlyfEuIryW3MX4GvicwzWkHLKPlease like, share, and subscribeVideo Presented by :Prof. Tauseef Khan (M.Com, MBA, UGC - NET)Follow us on :Facebook: https://www.facebook.com/tauseef89/Twitter: https://twitter.com/tauseef_sirInstagram: https://www.instagram.com/tauseefsirVisit our websitehttps://www.scholarsclasses.com/blog#scholarszilla#tybcommcq#tauseefsir Accounting for Internal Reconstruction Important MCQs. When two or more existing companies combine together to form a new company, it is termed as. 10 each, consolidated the shares into 5000 shares of Rs. Internal Reconstruction - Advanced Accounting - MCQ Test - Teachmint Test Details Internal Reconstruction All the best Starts Feb 02, 6:00 PM Duration 15 minutes Deadline Feb 02, 9:00 PM Maximum marks 20.0 marks Question type MCQ Total questions 10 questions Like Share 32 Views Kishor Suryawanshi If there is any balance in the capital reduction account after writing off all the accumulated losses, then the same is transferred to , 7.
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