10. Consent of creditors is not required if capital reduction involves the writing off of paid up capital lost or not represented by available assets. 1. Accounting for Amalgamation, Absorption and External. The word And reduced cannot be added to the name of the company if no direction has been given by the court. All rights reserved. /PN|]fR9RW*YGfS{5B:>$VYq&Lop WGV1="]GVR:8M Merger Buyout Joint Venture De-merger 23Which merger involves firms engaged in unrelated types of activities? 22. Forfeiture and Surrender of shares is a case of capital reduction. b) Revenue Profit. Save my name, email, and website in this browser for the next time I comment. A brain-computer interface that decodes continuous language from non-invasive recordings would have many scientific and practical applications. 55 0 obj
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Company Liquidation Accounts. Cancellation of unissued capital is also a case of capital reduction. Here we are providing Notes , MCQs , Question Bank , Notes on Current Affairs & Many More. 0 ]
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 Accounting for Amalgamation, Absorption and External. #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 Merged with another co. 500000. b) X Ltd. Having a share capital of Rs. The scheme of internal reconstruction requires approval of ____________ .a) Shareholders b) Central Government c) NCLT d) all the above, 7. Agreement. Under which of the following circumstances can a company resort to internal reconstruction? Shareholders not approving scheme is called _________ shareholders. It decides to convert its capital into 20,000 equity shares of Rs. For writing off the accumulated Josses under the scheme of capital reduction, we debit: 6. (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. Multiple Choice Questions. 4~"\ hb```f``c`e`icd@ Ar400kPQ{!{GGCG+CP q #s*m,f.HfEZX7``~d1/s ` !
Any loss on revaluation of the assets at the time of internal reconstruction, will be charged from. more mcqs. The HUB, Sy. 20. The objective of reconstruction is to write off ___________ .a) profit b) accumulated losses c) nil d) none of the above, 18. c) Capital Reduction. The Capital reduction means reduction in ____________ value of shares.a) authorized capital b) Called up capital c) Uncalled capital d) paidup value, 3. Cancellation of unissued capital is also a case of capital reduction. Share Capital A/c (10) Dr. 500000. c) X Ltd. Having a share capital of Rs. In internal reconstruction, increase in the value of fixed assets is credited to. J%7uI 8vjYZOM}r,2s.Z 'Xj:8A3v8^X.x=a4$ In internal reconstruction neither the existing company is liquidated, nor is a new company incorporated. 500000 divided into 5000 shares of Rs. /FV.)|[%;$3 >% LMhLI3kve^v2zWl:{ eM>"2+hY$Jddt'i;|` Accounting procedure when internal reconstruction made 36) 7. 5 fully paid. 22 0 obj
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In a scheme of reorganisation amount of shares surrendered by shareholders is transferred to: 13. vt00 McqMate.com is an educational platform, Which is developed BY STUDENTS, FOR STUDENTS, The only Amalgamation, Absorption & External reconstruction Multiple Choice Questions 1. endstream
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According to sec. objective of our platform is to assist fellow students in preparing for exams and in their Studies 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. (a) Profit (b) Loss (a)No Profit-No Loss (a) nil 5. In which of the following cases, procedure of reduction of capital is not called for: (iii) Surrender of shares or gift of shares. We provide you study material i.e. Currently, however, non-invasive language decoders . 0000001427 00000 n
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V[H,Q~$agt8O4js_22Q|Waoq\WU Internal Reconstruction is also known as Capital Reduction. Latest Reconstruction of companies MCQ Objective Questions Top Reconstruction of companies MCQ Objective Questions Exam Preparation Simplified Learn, practice, analyse and improve Get Started for Free Download App Trusted by 3.9 Crore+ Students Related MCQ Merger& Amalgamation MCQ Exams TNPSC Group 1 TNPSC Group 2 RRB Group D RRB NTPC Copyright 2023 McqMate. Multiple Choice Questions 1)Voluntary winding up: a)If period fixed for the company is expired. Valuation of Shares. 59 23
1.If there is any balance in the capital reduction account after writing off all the accumulated losses then the same is transferred to ; (A) Share Capital Account (B) Capital Reserve Account (C) General Reserve Account (D . Under Sec. In case of , one existing company takes over the business of another company and no new company is formed HyE$=T0dd$@>%o53mXe@8f2"0(#u8WLfR>|>ug2gcA9
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KZCO2IJaDR,~Tt,!Oq]RA>z$\IU a) face b) market c) both of a & b d) none of the above 12. The video explains important mcqs on Internal Reconstruction of company #Capital Reduction #Account capital reduction A/C will be transfer to: Business Ethics and Corporate Social Responsibility (BECSR). a) 77 b) 100 c) 66 d) 75 2. Company Liquidation Accounts. Download PDF. 100 each, subdivided the shares into 50000 shares of Rs. 100 each. Equity share capital A/c Dr. 500000, Equity Stock A/c Cr. When an existing company takes over the business of one or more existing companies, it is called. %%EOF
A company has issued capital of 10,000 equity shares of Rs. It is a case of, Answer :- Reducing share capital by returning the excess capital, 5. The reduction of capital is permitted under _____________ of Companies Act. 500000 divided into 50000 shares of Rs. The difference in revaluation of assets is to be transferred to ___________ Account.a) internal reconstruction b) Capital Reduction c) security primium d) capital reserve, 10. Friends ye artical ke alava other subject Ke bhi article aapko mere website per mil jaenge jiska link me aapko niche de raha hu. 25. For writing off the accumulated Josses under the scheme of capital reduction, we debit, 6. Suraj Patel Education is one of the best blog on Education . Court Confirmation Order has to be registered with the __________ of companies.a) NCLT b) share capital c) Registrar d) none of the above, 19. 0000003198 00000 n
Holding Company Accounts. In case of Internal Reconstruction , the company is. Shareholders not approving scheme is called _________ shareholders.a) dissenting b) paying c) pay disentient shareholders d) none of the above, 13. 0000002299 00000 n
If there is any balance in the capital reduction account after writing off all the accumulated losses, then the same is transferred to: 8. 0
10 each fully paid decides to repay Rs. The cancellation of contingent liability is____ for company. Accounting for Internal Reconstruction Multiple choice questions and answers. Consent of creditors is required if capital reduction involves diminution of liability regarding uncalled capital or return of paid up capital. Absorption. Appreciation in the value of land & building is recorded on ________ side of Capital Reduction Account.a) credit b) debit c) both of a & b d) none of the above. Restructuring Internal Reconstruction 22 State an arrangement whereby the assets of two ro more companies come under the control of one company? MCQ on Internal Reconstruction : Multiple choice questions and answers December 18, 2021 by Abhimaynu Multiple choice questions and answers 1. Manan Prakashan 1 CHAPTER - 1 : AMALGAMATION, ABSORBTION AND EXTERNAL RECONSTRUCTION (AS - 14) MULTIPLE CHOICE QUESTIONS. The Shareholders can surrender shares for ________ or ____________ .a) re-issue, cancellation b)Fresh Issue, Redemption c) none of the above, 5. 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. Internal reconstruction. The fictitious debit balances are to be transferred to ___________ Account.a) internal reconstruction b) security premium c) share capital d) Capital Reduction, 9. endstream
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5 per share thus making each share of Rs. No journal entry is required for cancellation of unissued share capital. Copyright 2023 McqMate. To carry out capital reduction, permission is required from: 14. Save my name, email, and website in this browser for the next time I comment. (a) 1 (b) 2 (a)3 (a) many 4. The scheme of internal reconstruction involves ___ company. JD%@"i0iB*c`EX 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. 17. 100 each, subdivided the shares into 50000 shares of Rs. 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. I am also working on some other websites which will be published soon. 59 0 obj
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In internal reconstruction, methods of calculation of purchase consideration is 33) Methods of capital reduction 34) While preparing Balance Sheet after reconstructed following points are to be kept in mind 35) 6.
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