Basics of Accounting Bit Bank for APPSC | Panchayat Secretary | IBPS | SBI | SSC

Basics of Accounting

 1).  The term of bill after sight commences from  the date  of---------------.?  
Answer  ::   Acceptance of the bill

 2).  The term of bill after date commences from  the date  of ---------------.?  
Answer  ::   Drawing a bill

 3).  When the bill is honoured at the maturity date, the drawee  debits -------------------?. 
Answer  ::   B/P Account

 4).  The promissory note  should be -----------------.? 
Answer  ::   Signed by promisor

 5).  A fee paid in cash to notary public is charged by ---------------?. 
Answer  ::   Holder of bill of exchange

 6).  A ------------- has a separate legal entity from its member?. 
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

 8).  --------------- is not disclosed in the balance sheet  of the company.? 
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

 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

 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

 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

 14).  A company can issue share  at premium--------------.  ?
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.

 16).  The maximum rate of interest which  can be paid on calls  in advance (As per Table-A) is ----------------.  ?
Answer  ::   6% p.a.

 17).  If shares are forfeited, share capital Account is debited with the amount of ---------------.  ?
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