Ans: a) Capital Profit. Corporate Accounting MCQ Question Bank Reconstruction of Companies. 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 The word And reduced cannot be added to the name of the company if no direction has been given by the court. A company must pass a special resolution for reduction of capital. 11)face 12)dissenting 13)Schedule III 14)capital reduction 15)funds 16)debited 17)accumulated losses 18)Registrar 19)internal reconstruction 20)credit, HSC Question Paper 2023 12th Commerce (Download Free pdf), HSC OCM Paper 2023 March Maharashtra Board | Download Free Pdf, HSC SP Paper 2023 March Maharashtra Board | Download Free Pdf, HSC Hindi Paper 2023 March Maharashtra Board | Download Free Pdf, HSC English Paper 2023 March | Download Free Pdf, 11th OCM Chapter 8 Exercise (Introduction to Management) Maharashtra Board Free Resource, 11th OCM Chapter 7 Exercise (Business Environment) Maharashtra Board Free Resource, Financial Accounting Mcqs | More Than 700 Free MCQs, 12th SP Chapter 6 Solution (Correspondence with Members) Maharashtra Board Free Solution. Ixdp]A:DKp
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V[H,Q~$agt8O4js_22Q|Waoq\WU a) dissenting b) paying c) pay disentient shareholders Internal Reconstruction MCQ (Free) | Capital Reduction September 29, 2021 11. 5 each. In ____________ , no new company is formed.a) External reconstruction b) Amalgamationc) internal reconstruction d) none of the above, 20. 61 of the companies act, 2013, a limited company can increase, sub-divide or consolidate all or part of its existing share if authorised by its articles of association. 0000001534 00000 n
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A company is free to reduce or extinguish the uncalled liability of its members. A company has issued capital of 10,000 equity shares of Rs. Internal reconstruction result in the reduction of the capital of the company. Internal reconstruction is a slow and tedious process since it required the approval of : After the implementation of the scheme of internal reconstruction , any surplus in capital reduction A/C is transferred to : After the implementation of scheme of internal reconstruction, any amount left in the capital reduction A/C will be transfer to: Irk#nf`S_Jlhf6+xx?$UZ$yZ}opP~ fCJ[1[nS+\M]_pOgut9qiWb|Tr@r`Xj 8p2_7y#@DZpNS80dJ^3S2RzP3;! Number 8/2 & 9, Sarjapur Road, Bengaluru, Karnataka- 560 103. Suraj Patel Education is one of the best blog on Education . 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. 0000001960 00000 n
The expenses for forming and implementing scheme should be debited to ____________ .a) security premium b) share capital c) Internal reconstruction d) capital reduction, 15. endstream
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Important Links: Companies may combine in following ways (i) absorption (ii) amalgamation (iii) external reconstruction (iv) internal reconstruction (v) merger (a) any of above (b) none of above (c) any except (iv) (d) any except (v) Vertical Horizontal Conglomerate Demerger Consent of creditors is not required if capital reduction involves the writing off of paid up capital lost or not represented by available assets. When a company converts its equity shares into the capital stock, then the account to be credited is: 4. Computerized Accounting Practices. 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. State whether the following statements are True or False: According to sec. d:b%aE2ag,jO=7^Mq*YTW%s\QQ]7,Z >cDu061`xxg]Q9*!:z5~m^&Wi=DJ?^rt3@Ey7ogblH@Pb 500000 divided into 5000 shares of Rs. Question and answers in Accounting for Internal Reconstruction. Any loss on revaluation of the assets at the time of internal reconstruction, will be charged from. 100 each, converts it into stock. MCQ on Internal Reconstruction : Multiple choice questions and answers December 18, 2021 by Abhimaynu Multiple choice questions and answers 1. b) Absorption. in Bangalore here: Software Service When two or more companies carrying on similar business decide to combine, a new company is formed, it is known as (A) Amalgamation (B) Absorption (C) Internal reconstruction (D) External reconstruction Amount sacrificed by shareholders are credited to: 13. 0000003198 00000 n
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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. Share Capital A/c (100) Dr. 500000, Share Capital A/c (10) Cr. 0000004701 00000 n
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Consent of creditors is required if capital reduction involves diminution of liability regarding uncalled capital or return of paid up capital. When a company converts its equity shares into the capital stock, then the account to be credited is , 4. 100 each. /FV.)|[%;$3 >% LMhLI3kve^v2zWl:{ eM>"2+hY$Jddt'i;|` 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. Follow me on YouTube - Dynamic Tutorials and Services. 500000 divided into 5000 shares of Rs. In case of sub-division of share capital the total number of shares, 2. capital reduction A/C is transferred to : After the implementation of scheme of internal reconstruction, any amount left in the 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 . hVN;?*:_ a) 77 b) 100 c) 66 d) 75 2. gHc >
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(a) 1 (b) 2 (a)3 (a) many 4. 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. The word And reduced cannot be added to the name of the company if no direction has been given by the court. 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 500000. b) X Ltd. Having a share capital of Rs. 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. Currently, however, non-invasive language decoders . Accounting procedure when internal reconstruction made 36) 7. a) X Ltd. Having a share capital of Rs. 100 each, converts it into stock. wound up. Only unsuccessful companies undertake capital reduction. 10 each, consolidated the shares into 5000 shares of Rs. It is a case of: (i) Reducing share capital by returning the excess capital, (ii) Reducing the liability on account of uncalled capital. throughout their Academic career. 1. Absorption. Amalgamation, Absorption & External reconstruction Multiple Choice Questions 1. 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. 5 per share thus making each share of Rs. 0000001241 00000 n
When an existing company takes over the business of one or more existing companies, it is called. In internal reconstruction, amount sacrificed by shareholders are credited to.. Internal reconstruction is a slow and tedious process since it required the approval of : After the implementation of the scheme of internal reconstruction , any surplus in 8) Pre-acquisition profit is a) Capital Profit. Cancellation of unissued capital is also a case of capital reduction. 10 each fully paid. startxref
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The word And Reduced is added to the name of the company for such period as the court deems fit. A Ltd. with a share capital of 10,000 equity shares of Rs. 100 each, subdivided the shares into 50000 shares of Rs. Restructuring Internal Reconstruction 22 State an arrangement whereby the assets of two ro more companies come under the control of one company? Agreement. HT=s0+8xDmC?AX9jbN:w)Pgj!V-[._
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b) Revenue Profit. 17. 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. 0000001427 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. In case of sub-division of share capital the total number of shares Increases Decreases Does not change. Hn0w?Gr "%
2t0 Ans: b) Revenue Profit. Q. In case of sub-division of share capital the total number of shares: 2. c) Super Profit. According to sec. For writing off the accumulated Josses under the scheme of capital reduction, we debit, 6. (C) Internal reconstruction (B) Absorption (D) External reconstruction While calculating purchase price, the following values of assets are considered Book value (C) Average values (B) Revised Value (D) Market values Shares received from the new company are recorded at - Face value (C) Market value (B) Average price Multiple Choice Questions and Answers (MCQs), Financial Statement and Financial Statements Analysis, MCQ on Internal Reconstruction and Capital Reduction. In internal reconstruction neither the existing company is liquidated, nor is a new company incorporated. Multiple Choice Questions 1)Voluntary winding up: a)If period fixed for the company is expired. 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. 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. Any loss on revaluation of the assets at the time of internal reconstruction, will be charged from. Holding Company Accounts. In which of the following cases, procedure of reduction of capital is not called for: (iii) Surrender of shares or gift of shares. The HUB, Sy. The cancellation of contingent liability is____ for company. Our website uses cookies to improve your experience. Corporate Accounting Multiple Choice Questions and Answers, Mumbai University B.Com - MCQs, Exam MCQs and Solved Papers, Auditing MCQs Multiple Choice Questions and Answers | Auditing MCQs For B.Com, CA, CS and CMA Exams, Management Accounting MCQs [Multiple Choice Questions and Answers], MCQ On Budget and Budgetary Control | Multiple Choice Questions and Answers, MCQ on Accounts of Holding Companies [Multiple Choice Questions and Answers], Corporate Accounting Multiple Choice Questions and Answers (MCQs) | Company Accounts MCQs. 20. |:a=Z&v)kgAN"6]tBzy!NS Cancellation of unissued capital is also a case of capital reduction. b) X Ltd. Having a share capital of Rs. 10 each, consolidated the shares into 5000 shares of Rs. Internal reconstruction is a slow and tedious process since it required the approval of : After the implementation of the scheme of internal reconstruction , any surplus in capital reduction A/C is transferred to : reconstruction? 10. McqMate.com is an educational platform, Which is developed BY STUDENTS, FOR STUDENTS, The only In internal reconstruction, increase in the value of fixed assets is credited to. AM$|?F9 UY
objective of our platform is to assist fellow students in preparing for exams and in their Studies For writing off the accumulated Josses under the scheme of capital reduction, we debit: 6. Under Sec. Share Capital A/c (10) Dr. 500000. c) X Ltd. Having a share capital of Rs. Merger Buyout Joint Venture De-merger 23Which merger involves firms engaged in unrelated types of activities? endstream
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I am also working on some other websites which will be published soon. A company is free to reduce or extinguish the uncalled liability of its members. Question 2. In case of Internal Reconstruction , the company is. Here we are providing Notes , MCQs , Question Bank , Notes on Current Affairs & Many More. a) authorized capital b) Called up capital c) Uncalled capital 5 fully paid. In case of loss maximum remuneration is Rs.6 Lakhs in case effective capital is less than (a) 5Cr (b) 1Cr (a)25Cr (a) 50Cr 6. xb```"WV AX,p}GynByz||kWU]{KYD$9#c'{-(&P!M cE.IJdKyAJR'![FQ[[F,r8|m5@+@nh``@P,@0yl %PDF-1.5
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In which of the following cases, procedure of reduction of capital is not called for: 11. Accounting for Internal Reconstruction Important MCQs. 15. If there is any balance in the capital reduction account after writing off all the accumulated losses, then the same is transferred to , 7. It is a case of, 9. 22. 500000 divided into 50000 shares of Rs. Learn more. 500000 divided into 5000 shares of Rs. HQJo.&
;&|&LZ$w$\bRp|)oG@4}=& C8Yn*]izM6fVjAVjEM'#Y+Lx4=_TZ%x9GbmiH2y2R Internal reconstruction definition, the hypothetical reconstruction of an earlier stage of a language or of some part of it, as its phonology, by deductions from irregularities in its present structure, as the reconstruction of a stage in English when certain instances of r were related to s in a systematic way by comparing the pair was:were to other pairs, as lose:forlorn. Section 66 of the companies Act governs the internal reconstruction. The video explains important mcqs on Internal Reconstruction of company #Capital Reduction #Account Eliminate the accumulated losses from the books. The term Internal Reconstruction means: 7. In case of , one existing company takes over the business of another company and no new company is formed (a) Profit (b) Loss (a)No Profit-No Loss (a) nil 5. #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. 500000, Micro Economics Notes and Important Questions, Reducing share capital by returning the excess capital, Reducing the liability on account of uncalled capital. 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 The Sub division of shares does not result in ___________ of capital.a) reduction b) added c) Compromise d) none of the above, 4. We provide you study material i.e. Our moto is to make Responsible Accountant and Employee of whichever is field whether student be like . 10 each. 5 per share thus making each share of Rs. 0000000016 00000 n
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To carry out capital reduction, permission is required from: a) X Ltd. Having a share capital of Rs. Equity share capital A/c Dr. 500000, Equity Stock A/c Cr. Alteration of share capital can be affected by passing an ordinary resolution. The term "Internal Reconstruction" means: (i) Reduction of Share Capital (ii) Variation of Shareholder's right (iii) Alternation of share capital (iv) All of the above 7. %%EOF
/PN|]fR9RW*YGfS{5B:>$VYq&Lop WGV1="]GVR:8M Merged with another co. 5 each. Forfeiture and Surrender of shares is a case of capital reduction. JD%@"i0iB*c`EX 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. 0000040014 00000 n
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. Main aim of this blog is to provide all academic resources and information's especially for Commerce Stream Students. |4 Download PDF. All rights reserved. Hey Guys, Myself Kumar Nirmal Prasad, a Teacher turned Full time Blogger and Investor. :u4$L"G0cOpe"MH3SIoIe?+-;YH1k G@bV+o The Capital reduction means reduction in ____________ value of shares.a) authorized capital b) Called up capital c) Uncalled capital d) paidup value, 3. HUn9}om # 11. To carry out capital reduction, permission is required from: 14. --------- is the account created in connection with internal reconstruction. Turn around. https://www.surajpateleducation.com/2021/01/marketing-research-tybcom-mcq-pdf.html, https://www.surajpateleducation.com/2020/12/human-resource-management-tybcom-mcq.html, https://www.surajpateleducation.com/2020/12/cost-accounting-tybcom-mcq-pdf.html, https://www.surajpateleducation.com/2020/10/mcom-tybcom-indirect-tax-20-most.html, https://www.surajpateleducation.com/2020/09/direct-tax-sem-v-atkt-question-bank-2020.html, Strategic Management Question Bank Than Pay Rs 100 Only, Dosto Agar App Vedio Dekhana Chate Ho Related Education To Aap Mere Youtube Channel Par Jaskate Ho Dosto Niche Link Derha Hu, DIRECT TAX SEM V (ATKT) Question Bank-2020, F.Y.B.COM Environmental Studies MCQ PDF | Environmental Studies MCQ, T.Y.B.COM MCQ | T.Y.B.COM Mumbai University All Subject MCQ, ADVANCED CORPORATE ACCOUNTING M.COM PART 1 MCQ. s xref
A company must pass a special resolution for reduction of capital. Shareholders not approving scheme is called _________ shareholders. Copyright 2023 McqMate. No journal entry is required for cancellation of unissued share capital.
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 10 each fully paid decides to repay Rs. c) X Ltd. Having a share capital of Rs. Copyright 2023 McqMate. U,]]. Company Liquidation Accounts. Alteration of share capital can be affected by passing an ordinary resolution. Save my name, email, and website in this browser for the next time I comment. Internal reconstruction. 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 HyE$=T0dd$@>%o53mXe@8f2"0(#u8WLfR>|>ug2gcA9
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