MCQ-Financial Account-SEM V
MCQ-Financial Account-SEM V
4. contingent liabilities Any amount payable within 12 months from date of Balance sheet is
called ______________.
a) capital
b) loan
c) contingent liabilities
d) current liabilities
12. Schedule III requires Profit & Loss Account to be prepared in _________________.
a) horizontal form
b) vertical form
c) convenient form
d) columnar form
13. The extract of Balance Sheet format profile is specified in Part __________of Schedule
III.
a) 1
b) 2
c) 3
d) 4
16. The interest accrued on investment appears in the Balance Sheet under the head:
a) current assets
b) fixed assets
c) loans & advances
d) investments
18. Which of the following items do not come under, reserves & surplus ______________.
a) capital redemption reserve
b) general reserve
c) provident fund
d) sinking fund
19. Opening balance of Profit & Loss A/c was ₹ 7,500, dividend paid ₹. 1,500 ending
balance of Profit & Loss A/c was ₹ 5000. Net income / net loss were ______________.
a) loss ₹ 1,000
b) net loss ₹ 2,000
c) net income ₹. 1,000
d) net income ₹ 6,500
24. Which of the following items appears on the assets side of Balance Sheet?
a) capital reserve
b) security premium
c) sinking fund investment
d) specific reserve
25. Ravi Ltd. proposed a dividend of 15% The called up equity capital of the company is
₹. 3,00,000 calls in arrears amounted to Rs. 20,000 and calls in advance amounted to ₹.
50,000. Dividend payable is ________________.
a) ₹ Nil
b) ₹. 49,500
c) ₹ 39,000
d) ₹ 34,500
No dividend is payable by recommendation.
40. The company has 5% Government Securities having face value of ₹ 1,00,000 and cost ₹
95,000. The interest on Government Securities will be ____________.
a) ₹ 5,000
b) ₹ 4,750
c) ₹ 9,750
d) ₹ 7,750
45. Remuneration to M.D. should be shown as a separate item on debit side of ____________
a) Trading A/c
b) Profit and Loss A/c
c) Profit and Loss Appropriation A/c
d) Note to Balance Sheet
48. Interest accrued but not due on Loans is shown under _______________.
a) current liabilities
b) secured loans
c) unsecured loans
d) Contingent liability
65. Short term loan is the loan due for not more than ____________.
a) 2 years
b) 1 year
c) 5 years
d) 3 years
68. When demand for tax is raised by the Income tax department _____________.
a) no entry is passed
b) it is shown as a contingent liability
c) it is debited to profit and loss A/c
d) it is debited to tax paid A/c
69. When demand for tax is raised and it is disputed by the company through an appeal it is
_________.
a) shown as a current liability
b) shown as a contingent liability
c) not entered in the books
d) debited to profit and loss A/c
70. When the demand for tax is raised by the Income tax department and it is accepted by the
company it is ______________.
a) debited to Profit and loss A/c and credited to provision for tax A/c
b) not entered in the books
c) shown as a contingent liability
d) debited to tax paid account
71. When the assessed tax is less than the provision made, it is _____________.
a) debited to tax paid A/c and credited to Profit and Loss A/c
b) not entered in the books
c) debited to provision for tax A/c and credited Profit and Loss A/c
d) none of the above
74. The following is not shown under share capital of a company _______________.
a) calls in arrears
b) preference share capital
c) forfeited shares A/c
d) preference dividend
80. Following is not shown under Current Asset, Loans and Advances ____________.
a) Closing Stock
b) Bills Receivable
c) Bank balance
d) Preliminary expenses
87. Long term investments are shown in the company Balance sheet under _____________.
a) Fixed assets
b) Investments
c) Current Assets
d) Miscellaneous Expenditure
93. Bank deposits with more than 12 months’ maturity are disclosed under _____________.
a) Other financial assets
b) Investments
c) Loans
d) Advances
96. Debit balance on statement of profit & loss is shown under _____________.
a) Other equity
b) Reserves & Surplus
c) Current Assets
d) Miscellaneous expenditure
103. A company is empowered to declare and pay interim dividend as per ______________.
a) Section 123
b) Section 189
c) Section 350
d) Section 2
106. Depreciation to be deducted from profit for deciding managerial remuneration as per
section ______________.
a) 123
b) 371
c) 441
c) 315
107. Maximum remuneration to a managing director in case of profit is ____________.
a) 7.5 %
b) 5%
c) 10%
d) 11%
108. In case of profit overall managerial remuneration shall not exceed ____________.
a) 12.5%
b) 11%
c) 15%
d) 5%
109. In case of loss maximum remuneration is 60 lakhs in case effective capital is less than
_____________.
a) 5 crores
b) 1 crores
c) 25 crores
d) 50 crores
110. If effective capital is more than 100 crores in case of loss, the maximum remuneration
will be ______________.
a) ₹ 1,50,000
b) ₹ 120 lakhs
c) ₹ 2,50,000
d) ₹ 4,50,000
112. In the event of profit remuneration to part time director, when there is no MD, is
maximum ____________.
a) 5% of net profit
b) 3% of net profit
c) 9% of net profit
d) 11% of net
Answers:-
1 b 36 b 71 c
2 d 37 c 72 a
3 a 38 c 73 b
4 d 39 a 74 d
5 b 40 a 75 d
6 b 41 a 76 b
7 c 42 b 77 a
8 c 43 a 78 d
9 c 44 a 79 a
10 a 45 b 80 d
11 b 46 c 81 c
12 b 47 c 82 c
13 a 48 a 83 a
14 b 49 b 84 c
15 c 50 b 85 b
16 a 51 b 86 b
17 b 52 a 87 b
18 c 53 d 88 b
19 a 54 b 89 a
20 a 55 c 90 a
21 c 56 b 91 a
22 a 57 b 92 b
23 a 58 a 93 a
24 c 59 a 94 b
25 a 60 b 95 b
26 d 61 a 96 a
27 d 62 b 97 a
28 d 63 b 98 c
29 c 64 a 99 a
30 a 65 b 100 b
31 a 66 a 101 b
32 a 67 a 102 b
33 a 68 a 103 a
34 a 69 b 104 a
35 d 70 a 105 b
106 a
107 b
108 b
109 a
110 b
111 c
112 b
2. Internal Reconstruction
113. Internal Reconstruction requires___________________.
a. Ordinary resolution passed in the General meeting
b. Special resolution passed in the Board meeting
c. Special resolution passed in the General meeting
d. Ordinary resolution passed in the Board meeting
115. If the shares of smaller denomination are converted into shares of higher
denomination without changing the total amount, then it is a case of
_______________.
a. Consolidation of share capital
b. Sub-division share capital
c. Decrease in unissued share capital
d. Compromise
116. If the shares of higher denomination are converted into shares of smaller
denomination without changing the total amount, then it is a case of
_________________.
a. Consolidation of share capital
b. Sub-division share capital
c. Decrease in unissued share capital
d. Compromise
117. For writing off the accumulated losses under the scheme of internal
reconstruction _______is debited
a. Accumulated losses Account
b. Capital reduction account
c. General reserve account
d. Capital reserve account
119. Any loss on revaluation of the assets at the time of internal reconstruction will
be charge to _______________.
a. Revaluation account
b. Share capital account
c. Bank account
d. Capital reduction account
122. In the internal reconstruction scheme, any new liability to be provided for
must be met out of _____________________.
a. Trading Account
b. Capital reduction Account
c. Debtors Account
d. General reserve account
124. Share of ₹100 each (paid up value ₹ 90 each) are reduced to share of nominal
value of ₹ 90 each in a scheme of reconstruction. The capital reduction accounts will
__________.
a. Be credited by ₹10 per share
b. Be credited by ₹100 per share
c. Be credited by ₹90 per share
d. Have no effect
125. Shares of ₹100 each paid up value are reduced to shares of nominal and paid
up value of ₹10 each in the scheme of reconstruction, the amount credited to capital
reduction Account will be _____________.
a. ₹10 per share
b. ₹100 per share
c. ₹90 per share
d. ₹190 per share
130. The existing 1,000 shares of ₹ 1 each are altered to 100 shares of ₹10 each.
This is known as _________________.
a. Consolidation
b. Conversation in Stock
c. Sub-division
d. Surrender
131. The existing 1,000 shares of ₹ 100 each are altered to 10,000 shares of ₹10
each. This is known as _____________.
a. Sub-division
b. Surrender
c. Consolidation
d. Conversion in Stock
132. While granting approval to any scheme of Capital Reduction, the court may
direct the company to add the following words to its name for such period as t thinks
fit.
a. And Reduced
b. Unlimited and Reduced
c. Limited and Reduced
d. Liquidated
135. Change in the rate of preference dividend payable in future without any
change in the amount of capital is known as ____________________.
a. Reduction in share capital
b. Alteration in share capital
c. Variation of shareholders’ right
d. Compromise
139. Debenture holders accepting a cash payment less than the face value of their
debentures amounts to ____________________.
a. Reduction of Share Capital
b. Alteration of Share Capital
c. Compromise/ Arrangement
d. Variation of Shareholders' Rights
140. Extinguishment of the liability in respect of unpaid portion of the face value of
any share, in a scheme of reconstruction, amounts to __________________.
a. Reduction of Share Capital
b. Variation of Shareholders' Rights
c. Alteration of Share Capital
d. Compromise/Arrangement
141. Repayment of any paid-up share capital which is in excess of the wants of the
company, in a scheme or reconstruction, amounts to ___________________.
a. Reduction of Share Capital
b. Variation or Shareholders’' Rights
c. Alteration of Share Capital
d. Compromise/Arrangement
143. When company converts its equity share into capital stock then then account
to be credited in __________________.
a. Equity share capital account
b. Preference share capital account
c. Equity capital stock account
d. Ordinary share capital account
144. Appreciation in the value of fixed assets at the time of reconstruction will be
credited to _________.
a. Capital reserve account
b. Share capital account
c. Fixed Asset account
d. Capital reduction account
146. A contingent liability, not provide for materialized to the extent of ₹1000, the
insurance company paid ₹ 600 irrespective of this liability. Hence the amount to be
charged to capital reduction account will be ________________.
a. ₹400
b. ₹1,600
c. ₹1,000
d. ₹600
147. In case of consolidation of share capital, the number of shares of the company
is______.
a. Increase
b. Decrease
c. Remain constant
d. None of the above
148. Reduction of share capital is governed by the companies’ act, 2016 under
section ____.
a. 64
b. 66
c. 61
d. 230
150. Reconstruction expenses paid for implementing the capital reduction scheme
______.
a. Credited to capital reduction account
b. Credited to bank account
c. Debited to bank account
d. Credited to dissolution expenses account
151. Under internal reconstruction, the appreciation in the value of fixed asset
___________.
a. Debited to fixed assets account
b. Credited to fixed asset account
c. Debited to capital reduction account
d. Debited to profit and loss account
152. Under the scheme of internal reconstruction, If the damaged machinery worth
₹1,50,000 is sold as scrap for₹ 25,000, the _____________.
a. ₹25,000 credited to the capital reduction account
b. ₹1,25000 debited to the capital reduction account
c. ₹1,75,000 debited to the capital reduction account
d. ₹1,50,000 debited to the capital reduction account
161. Provision for taxation is Rs.1, 00,000. The tax liability of the company is
settled at Rs.80,000 & it is paid immediately. Amount credited to capital reduction is
_________.
a. ₹ 80,000
b. ₹1,00,000
c. ₹ 20,000
d. ₹ 60,000
162. The various losses can be written off with the help of capital reduction account
at the time of_________________.
a. Internal reconstruction
b. External reconstruction
c. Amalgamation
d. Merger
Answers:-
165. When a company purchases its own shares out of free reserves; a sum equal to nominal
value of shares so purchased shall be transferred to___________________.
a) Revenue redemption reserve.
b) Capital redemption reserve.
c) Buyback reserve
d) Free reserve
169. If equity shares have been bought back out of reserves amount equal to the face value of
equity shares bought back should be transferred to ________________.
a) Development rebate reserves
b) General reserves
c) Sinking fund
d) Capital Redemption reserves
172. Which of the following is not a Free reserves for the purpose of buy back of shares
_____
a) Profit and loss account
b) General reserves
c) Dividend Equalization reserves
d) Revaluation reserves
173. Which of the following is a Free reserves for the purpose of buy back of
shares________.
a) Workmen compensation fund (after meeting liabilities)
b) Capital Redemption reserves balance c/d
c) Debenture Redemption reserve
d) Shares forfeited account
174. No company call purchase its own shares unless the buyback is of less than 25% of
the___
a) Total paid up capital of the company
b) Total paid up capital and reserves of the company
c) Total paid up capital and free reserves of the company
d) Total nominal capital and free reserves of the company
175. Buy back of equity shares in any financial year shall not exceed 25% of its _________.
a) Total paid up equity capital in that financial year
b) Total paid up capital
c) Total paid up equity capital and free reserves of the company
d) Total nominal capital and free reserves of the company
176. On buy back of shares there is a reduction in the share capital to the extent of
the_______.
a) Market value of the shares bought back
b) Face value of the shares bought back
c) Called up value of the shares bought back
d) Un-paid value of shares bought back
177. A buy back of 10% of the total paid up equity capital and reserves of the company.
a) Can be authorized by the shareholders but no special resolution need be passed for the same
b) Can be authorized by the Board but a special resolution need be passed in a general
meeting to ratify the same.
c) Can be authorized by the Board but a special resolution need be passed unanimously by all
the members present to ratify the same.
d) Can be authorized by the Board no special resolution need be passed in a general
meeting.
178. No company shall purchase its own shares unless the buyback is of less than 25% of the
total___________
a) authorized capital of the company
b) Paid up capital of the company
c) paid up capital and free reserves of the company
d) called up capital of the company
179. The buyback of equity shares in any financial year shall not exceed twenty five percent
of its total______________.
a) Authorized capital in that financial year
b) Paid up capital in that financial year
c) paid up capital and free reserves in that financial year
d) called up capital in that financial year
180. The micro corporation Ltd is authorized to issue 1, 00,000 shares of equity shares. It had
issued 30,000 shares. It has bought back 5,000 shares. As a result of these transactions, the
no. of shares (i) in authorized share capital (ii) and (iii) in issued share capital will
be_______.
a) 1,00,000; 25,000
b) 75,000; 25,000
c) 1,00,000; 30,000
d) 75,000; 30,000
181. Preference shareholders will have a right to vote on all resolutions if the dividend
on their share remains unpaid for _____________.
a) 1 year
b) 2 year
c) 3 year
d) 4 years
182. The differential in the class of equity shares can be created for ____________.
a) Dividend.
b) Voting rights.
c) Both (a) and (b).
d) General meeting
183. As per section 68 of the companies act 2013, a company can buy back its own shares out
of_____________.
a) reserve which are available for distribution as dividend
b) securities premium account
c) proceeds of fresh issue of share or other specified securities
d) all of the above
185. According to section 68 (4) the buyback can be made from _____________.
a) from the open market
b) from the existing shareholders on a proportionate basis.
c) from the employees to whom share are issued under stock option per sweat equity share
d) all of the above
186. Further issue of the share after the buyback can be made for _____________.
a) conversion of debenture preference share into equity shares
b) bonus on issue and conversion of warrants
c) stock option schemes
d) all of the above
194. According to S.68, buy-back of equity shares in any financial year ______________
a) Shall not exceed 25% of its total paid up equity capital and free reserves in that financial
year.
b) Shall not exceed 25% of its total paid up equity capital less free reserves in that financial
year.
c) Shall not exceed 25% of its total paid up equity capital in that financial year.
d) Shall not be less than 25% of its total paid up equity capital in that financial year.
203. If equity shares have been bought-back out of free reserves, amount equal to the face
value of equity share bought back should be transferred to __________________.
a) Development rebate reserve
b) General reserve
c) Sinking fund
d) Capital redemption reserve.
206. Which of the following is not a "free reserve" for the purpose of buyback of shares?
a) Profit or loss account.
b) General reserve.
c) Dividend equalization reserve.
d) Revaluation reserve.
207. Which of the following is a "free reserve" for the purpose of buyback?
a) Workmen's compensation fund (after meeting liabilities)
b) Capital redemption reserve balance b/d.
c) Debenture redemption reserve.
d) Shares forfeited account.
208. No company shall purchase its own shares unless the buy-back is of less than 25% of the
___________.
a. Total paid up capital of the company.
b. Total paid up capital and reserves of the company.
c. Total paid up capital and free reserves of the company.
d. Total nominal capital and free reserves of the company.
209. Buyback of equity shares in any financial year shall not 25% of its ________________.
a) Total paid up equity capital in that financial year
b) Total paid up capital.
c) Total paid up equity capital and free reserves of the company.
d) Total nominal capital and free reserves of the company.
210. On buy-back of shares, there is reduction in the share capital to the extent of
____________.
a) Market value of the shares bought back.
b) Face value of the shares bought back.
c) Called up value of the shares bought back.
d) Un paid value of the shares bought back.
211. A buyback of 10% of the total paid up equity capital and reserves of the
company__________.
a) Can be authorized by the shareholder, but no special resolution need to be passed for the
same.
b) Can be authorised by the board, but a special resolution with need to be passed in a general
meeting to ratify the same.
c) Can be authorised by the board, but a special resolution with need be passed unanimously
by all members present to ratify the same.
d) Can be authorised by the board, and no special resolution need to be passed in general
meeting.
212. The buyback of equity shares in any financial year shall not exceed 25% of its total
________________.
a) Authorised capital in that financial year.
b) Paid up equity capital in that financial year.
c) Paid up capital and free reserves in that financial year.
d) Called up capital in that financial year.
Answers:-
163 a 188 b
164 c 189 a
165 b 190 a
166 b 191 b
167 c 192 d
168 d 193 c
169 d 194 c
170 d 195 a
171 d 196 a
172 d 197 a
173 a 198 d
174 c 199 d
175 a 200 d
176 b 201 a
177 d 202 d
178 c 203 d
179 b 204 d
180 a 205 d
181 b 206 d
182 c 207 a
183 d 208 c
184 c 209 a
185 d 210 d
186 d 211 b
187 d 212 a
4. Investment Accounting (AS-13)
213. Investment intended to be held for less than 12 months is called _______
investment
a) Annual
b) Current
c) Long term
d) Trade
218. The interest up to the transactions is paid in addition to the price in case of
__________quotation.
a) cum-interest
b) ex-interest
c) fixed price
d) variable price
223. On 1st July 2018 Jayshree Ltd. purchased 100 of its own 12% debentures for
price of Rs. 9,900 which is cum interest price. Interest is paid on 30 th September and
31st March every year. The acquisition cost of 100 debentures is ________.
a) Rs. 9,600
b) Rs. 9,700
c) Rs. 10,300
d) Rs. 10,000
224. Rajshree Ltd. hold 14% debentures of the face value of Rs. 5,000 in RJ Ltd.
Interest is payable on 30th June and 31st December every year. The debentures were
purchased on 1st July 2018. Accounts are closed on 31st March every year. The
accrued interest on 31st March 2019 was_________.
a) Rs.175
b) Rs.525
c) Rs.325
d) Rs.350
225. Y Ltd. purchased 1,000 shares @ Rs. 120 each and paid brokerage @ 2%. The
cost of acquisition is _________.
a) Rs. 1,20,000
b) Rs. 2,400
c) Rs. 1,22,400
d) Rs. 1,25,000
226. Z Ltd. purchased 10,000 shares of Rs. 10 each at Rs. 25 per share of A Ltd.
during the year 2012-13. During the year 2016-17, A Ltd. offered rights issue at one
share for every two shares held at a price of Rs. 20 per share. Right shares were
subscribed. The carrying cost of investment is ___________.
a) Rs. 2,50,000
b) Rs. 1,00,000
c) Rs. 2,50,000
d) Rs. 3,50,000
229. Mr. A purchased 10,000 shares of X Ltd. @ 80 each and paid brokerage @
1.5% and stamp duty Rs. 8,000. So cost of acquisition of shares will be
____________.
a) Rs. 8,00,000
b) Rs. 7,80,000
c) Rs. 7,88,000
d) Rs. 8,20,000
231. Mr. A purchased 15,000 shares of X Ltd. @ 96 each and paid brokerage @
1.5% and stamp duty Rs. 14,400. So cost of acquisition of shares will be
________________.
a) Rs. 14,40,000
b) Rs. 14,61,600
c) Rs. 14,76,000
d) Rs. 14,04,000
232. When bonus shares are received __________.
a) Nominal value is entered in nominal value column of Investment Account
b) cost is entered in cost column of investment account
c) ignored
d) Nominal value is entered in cost column of Investment Account
234. T Ltd. has current investment. The following data of current investment are
given below:-
235. S Ltd. has current investment. The following data of current investment are
given below:-
243. Cost of acquisition of debentures in the case of cum interest price is _______.
a) cum interest price - interest for expired period
b) cum interest price + interest for expired period
c) cum interest price only
d) ex interest price only
247. X purchased 2,000 equity shares of Y Ltd. at cost of Rs. 125 per share on 1 st
March 2019. These shares are held as current investment. On 31 st March 2019 M.V.
of shares was Rs. 115 per share. The carrying amount of investment is __
a) Rs. 2,50,000
b) Rs. 2,30,000
c) Rs. 4,80,000
d) Rs. 2,00,000
248. On sale of equity shares the equity shares A/c is credited by__________.
a) Cost price
b) Net selling price
c) Market value
d) Nominal value
252. If market value of investment held as current asset is less than cost
_________.
a) difference is credited to profit and loss account
b) difference is debited to profit and loss account
c) difference is ignored
d) difference is debited to capital reserve account
253. If market value of investment held as long term asset is less than cost ______.
a) difference is credited to profit and loss account
b) difference is debited to profit and loss account
c) difference is ignored
d) difference is debited to capital reserve account
255. Any reduction to market value of current investment from cost, on valuation
date is debited to___________.
a) Revaluation Reserve
b) Profit and Loss Account
c) Capital Reserve
d) General Reserve
256. XYZ buys 200 Debentures of nominal value of Rs.100 each of ICICI Ltd. at
Rs.98 (ex-interest) on 1st March 2019 from ABC. Interest @ 12% p.a. is to be paid
half yearly on 30th June and 31st December. Price paid by XYZ towards capital is
___________.
a) Rs. 20,000
b) Rs. 19,600
c) Rs. 20,200
d) RS. 19,800
257. XYZ buys 200 Debentures of nominal value of Rs.100 each of ICICI Ltd. at
Rs.98 (ex-interest) on 1st March 2019 from ABC. Interest @ 12% p.a. is to be paid
half yearly on 30th June and 31st December. Total payment made by XYZ is
__________.
a) Rs. 19,600
b) Rs. 20,200
c) Rs. 20,0 00
d) RS. 19,800
258. XYZ buys 200 Debentures of nominal value of Rs.100 each of ICICI Ltd. at
Rs.101 (cum-interest) on 1st March 2019 from ABC. Interest @ 12% p.a. is to be paid
half yearly on 30th June and 31st December. Price paid by XYZ towards capital is
___________.
a) Rs. 19,600
b) Rs. 20,200
c) Rs. 20,000
d) Rs. 19,800
259. XYZ buys 200 Debentures of nominal value of Rs.100 each of ICICI Ltd. at
Rs.101 (cum-interest) on 1st March 2019 from ABC. Interest @ 12% p.a. is to be paid
half yearly on 30th June and 31st December. Total payment made by XYZ is
___________.
a) Rs. 19,600
b) Rs. 20,200
c) Rs. 20,000
d) Rs. 19,800
260. XYZ buy debentures of nominal value of Rs. 100 each of ICICI Ltd. at Rs. 98
(ex-interest) on 1st March 2019 from ABC. Interest of Rs. 400 accrued from the last
due date till the date of purchase. In the entry for recording this investment in books
of XYZ ___________________.
a) Rs. 400 will be credited to Interest Account
b) Rs. 400 will be debited to Interest Account
c) Rs. 400 will be debited to Investment Account
d) Rs. 400 will be credited to Investment Account
261. Mr. T purchased 1,000 -10% debentures of Rs. 100 each on 1 st April 2019 at
Rs. 96 cum-interest price, the previous interest date being 31st December 2018. The
cost of investment was ___________.
a) Rs. 93,500
b) Rs. 1,00,000
c) Rs. 1,02,500
d) Rs. 95,300
262. Mr. F has marketable equity securities as short term investment. The cost and
market value at 31st March 2019 were as follows:-
263. The interest due upto date of purchase is segregated from total price of
investment, if price is ___________.
a) Cum-interest
b) Ex-interest
c) Purchase
d) Sale
264. If a security is transferred on 31st March, 2019 being the exact date when
interest falls due ____________________.
a) the entire interest upto 31st March ,2019 belongs to the purchaser
b) the interest upto 30th March, 2019 belongs to the purchaser
c) the entire interest upto 31st March, 2019 belongs to seller
d) the entire interest upto 30th March,2019 belongs to seller
265. A security is transferred on 31st May, 2019; while the next interest fall due on
30th June, 2019_________________.
a) the purchaser has the right to claim the interest upto 31st May, 2019 as his income
b) the seller has the right to claim the interest upto 31st May, 2019 as his income
c) the seller has the right to claim the interest upto 30th June, 2019 as his income
d) interest for June 2019 is divided equally between the seller and the purchaser
266. XYZ buys 200 Debentures of nominal value of Rs.100 each of ICICI Ltd. at
Rs.98 (ex-interest) on 1st March 2019 from ABC. Interest @ 12% p.a. is to be paid
half yearly on 30th June and 31st December. Nominal value of Investment purchased
is__________.
a) Rs. 20,000
b) Rs. 19,600
c) Rs. 20,200
d) Rs. 19,800
267. XYZ buys 200 Debentures of nominal value of Rs.100 each of ICICI Ltd. at
Rs.98 (cum-interest) on 1st March 2019 from ABC. Interest @ 12% p.a. is to be paid
half yearly on 30th June and 31st December. Nominal value of Investment purchased
is__________.
a) Rs. 20,000
b) Rs. 19,600
c) Rs. 20,200
d) Rs. 19,800
268. XYZ buys 200 Debentures of nominal value of Rs.100 each of ICICI Ltd. at
Rs.98 (ex-interest) on 1st March 2019 from ABC. Interest @ 12% p.a. is to be paid
half yearly on 30th June and 31st December. ABC has the right to claim interest of
__________.
a) Rs. 400
b) Rs. 2,400
c) Rs. 1,200
d) None of the above
269. ABC sells 100 debentures of nominal value of Rs. 100 each of ICICI Ltd. at
Rs.98 (ex-interest) on 1st March 2019 to XYZ. Interest @ 12% p.a. is to be paid half
yearly on 30th June and 31st December. Nominal value of investment sold is
__________.
a) Rs. 10,000
b) Rs. 10,100
c) Rs. 9,800
d) Rs. 9,900
270. ABC sells 100 debentures of nominal value of Rs. 100 each of ICICI Ltd. at
Rs.98 (ex-interest) on 1st March 2019 to XYZ. Interest @ 12% p.a. is to be paid half
yearly on 30th June and 31st December. Amount received towards capital is
___________.
a) Rs. 10,000
b) Rs. 10,100
c) Rs. 9,800
d) Rs. 9,900
271. ABC sells 100 debentures of nominal value of Rs. 100 each of ICICI Ltd. at
Rs.101 (cum-interest) on 1st March 2019 to XYZ. Interest @ 12% p.a. is to be paid
half yearly on 30th June and 31st December. Amount received towards capital is
___________.
a) Rs. 10,000
b) Rs. 10,100
c) Rs. 9,800
d) Rs. 9,900
272. ABC sells 100 debentures of nominal value of Rs. 100 each of ICICI Ltd. at
Rs.98 (ex-interest) on 1st March 2019 to XYZ. Interest @ 12% p.a. is to be paid half
yearly on 30th June and 31st December. Total amount received is ____________.
a) Rs. 10,000
b) Rs. 10,100
c) Rs. 9,800
d) Rs. 9,900
273. ABC sells 100 debentures of nominal value of Rs. 100 each of ICICI Ltd. at
Rs.101 (cum-interest) on 1st March 2019 to XYZ. Interest @ 12% p.a. is to be paid
half yearly on 30th June and 31st December. Total amount received is ___________.
a) Rs. 10,000
b) Rs. 10,100
c) Rs. 9,800
d) Rs. 9,900
Answers:-
277. Ethics are between different ages and different communities’ ____________.
a) Ethical relativism
b) Deontological ethics
c) Ethical absolutism
d) Teleological ethics
278. Under the Companies Act. 20113, minimum CSR expenditure must be
incurred by every company_______________.
a) having net worth of Rs. 1,500 crore or more
b) having net worth of Rs. 500 crore or more
c) having net worth of Rs. 1,000 crore or more
d) having net worth of Rs. 5 crore or more
279. Under the Companies Act, 2013 minimum CSR expenditure must be incurred
by every company ________________.
a) having a turnover of Rs.500 crore or more during any financial year
b) having a turnover of Rs.1,500 crore or more during any financial year
c) having a turnover of Rs.5 crore or more during any financial year
d) having a turnover of Rs.1,000 crore or more during any financial year
280. Under the Companies Act, 2013 minimum CSR expenditure must be incurred
by every company ________________.
a) having a net profit of Rs. 500 crore or more
b) having a net profit of Rs. 1,000 crore or more
c) having a net profit of Rs. 100 crore or more
d) having a net profit of Rs. 5 crore or more
281. Under the Companies Act, 2013 every company must spend in every financial
year _________________.
a) at the most 2% of the average net profits of the company made during the 3
immediately preceding financial years
b) at least 3% of the average net profits of the company made during the 3
immediately preceding financial years
c) at least 3% of the average net profits of the company made during the 2
immediately preceding financial years
d) at least 2% of the average net profits of the company made during the 3
immediately preceding financial years
Answers:-
274 b 284 c 294 c
275 d 285 b 295 c
276 c 286 a 296 a
277 a 287 c 297 d
278 b 288 c 298 d
279 d 289 a
280 d 290 a
281 d 291 c
282 b 292 d
283 b 293 a