Accounting for shares

1. Nominal value of shares allotted to the public is called __________ capital 
a. authorised
b. reserve
c. paid up
d. nominal

2. Paid up value of shares allotted is called ______ capital 
a. uncalled
b. issued
c. subscribed
d. nominal

3. As per section 69 (3) of the Companies Act, 1956, the minimum amount payable on share application should be __________
a. 10
b. 5
c. 20
d. 5

4. As per SEBI guidelines, the minimum amount payable on share application should be ___________ on nominal value of shares. 
a. 10
b. 20
c. 25
d. 5

5. As per table A, the amount on call on a share must not exceed __________ percent.

a. 5

b. 10

c. 20

d. 25

6. If articles are silent regarding interest on calls – in – arrears, the minimum rate of interest to be charged is _________

a. 5% p.a.

b. 6% p.a.

c. 8% p.a.

d. None of these.

7. If articles are silent regarding interest on calls - in - advance, the minimum rate of interest to be charged is _______ 
a. 6%
b. 10%
c. 20%
d. 25%

8. The document inviting offers from public to subscribe its share is called _______
a. Prospectus
b. Share Certificate
c. Both (a) and (b)
c. none of these

9. If shares are issued at its face value, its is called as issue at _______
a. premium
b. discount
c. par
c. none of these

10. _________ is deducted from the share capital to know paid up value of shares. 
a. calls - in advance
b. calls - in arrears
c. Forfeited shares
d. Discount on issue.

11. Interest on Calls - in = arrears is ________ for the company. 
a. Income
b. Expenditure
c. Gain
d. Loss

12. When shares are forfeited, share capital account is _______
a. debited
b. credited
c. adjusted
d. none of these.

13. The excess price received over the par value of shares, should be __________ to securities premium a/c/

a. debited

b. credited

c. adjusted

d. none of these