Accounting for Share Capital Class 12 MCQs Questions with Answers

1. Reserve capital means :

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

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

4. Shareholders get:

5. 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 :

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

7. A joint stock company is :

8. Reserve share capital means :

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

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

11. Premium on issue of shares is a :

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

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

14. Company can utilize securities premium for :

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

16. Secrities Premium can not be applied :

17. Share Application Account is :

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

19. Equity shareholders are :

20. 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 :