Accounting for Share Capital Class 12 MCQs Questions with Answers

1. Reserve capital means :

2. When a company issues fully paid shares to promoters for their services, the journal entry will be:

3. Share Application Account is :

4. An issue of shares which is not a public issue but offered to a selected group of persons is called :

5. Equity shareholders are :

6. When shares are forfeited, the Share Capital Account is debited with:

7. Capital included in the liabilities of a company is called :

8. Reserve share capital means :

9. Shareholders get:

10. Secrities Premium can not be applied :

11. Premium on issue of shares is a :

12. Which statement is issued before the issue of shares ?

13. Securities Premium is shown under which head in the Balance Sheet ?

14. J. Ltd. re-issue 2,000 shares which where forfeited by crediting share forfeiture account by ₹ 3,000. These shares were re-issued at ₹ 9 per share. The amount transferred to capital reserve will be :

15. Company can utilize securities premium for :

16. When full amount is due on any call but it is not received, then the short fall is debited to :

17. The difference between subscribed capital and called up capital is called :

18. If the loss on reissue of shares is less than the amount forfeited, the ‘surplus’ or profit is transferred to :

19. A joint stock company is :

20. If a share of ₹ 10 on which ₹ 8 has been called and ₹ 6 is paid is forfeited, the Share Capital Account should be debited with :