Basics of Accounting
1). The term of bill after sight commences from the date of—————.?
Answer :: Acceptance of the bill
Answer :: Acceptance of the bill
2). The term of bill after date commences from the date of —————.?
Answer :: Drawing a bill
Answer :: Drawing a bill
3). When the bill is honoured at the maturity date, the drawee debits ——————-?.
Answer :: B/P Account
Answer :: B/P Account
4). The promissory note should be —————–.?
Answer :: Signed by promisor
Answer :: Signed by promisor
5). A fee paid in cash to notary public is charged by —————?.
Answer :: Holder of bill of exchange
Answer :: Holder of bill of exchange
6). A ————- has a separate legal entity from its member?.
Answer :: Company
Answer :: Company
7). An authorized capital refers to that amount which is stated in the ———- as share capital?.
Answer :: Capital clause of the memorandum of association
Answer :: Capital clause of the memorandum of association
8). ————— is not disclosed in the balance sheet of the company.?
Answer :: Reserve capital
Answer :: Reserve capital
9). Equity shares can be issued with the differential rights as to ————–.?
Answer :: Dividend and voting
10). ————– of a company is an invitation to make an offer to subscribe the share or debenture of the company.?
Answer :: Prospectus
Answer :: Prospectus
11). As per section 69(3) of the Co. Act 1956, the amount payable on application on each share must be at least —————-?.
Answer :: 5% of the nominal amount of share
Answer :: 5% of the nominal amount of share
12). As per SEBI Guidelines, the amount payable on application on each share must be at least —————-.?
Answer :: 25% of the issue amount of shares
Answer :: 25% of the issue amount of shares
13). As per Table A (SEBI Guidelines), the amount of call on a share must not exceed ———— ?
Answer :: 25% of the nominal amount of share
Answer :: 25% of the nominal amount of share
14). A company can issue share at premium————–. ?
Answer :: Even in the absence of any express authority in its articles
Answer :: Even in the absence of any express authority in its articles
15). The maximum rate of interest which can be charged on calls in arrears (As per Table-A) is ————–. ?
Answer :: 5% p.a.
Answer :: 5% p.a.
16). The maximum rate of interest which can be paid on calls in advance (As per Table-A) is —————-. ?
Answer :: 6% p.a.
Answer :: 6% p.a.
17). If shares are forfeited, share capital Account is debited with the amount of —————. ?
Answer :: Called up value of shares
Answer :: Called up value of shares
18). On the approval from Central Government the rate of discount on issue of share can be —————-. ?
Answer :: 10% of the nominal value of shares
Answer :: 10% of the nominal value of shares