MCQs Commerce

Q1. Right shares are those shares which are issued to:

1. Directors
2. Promoters
3. Existing shareholders
4. None of these

Q2. The profit on reissue of shares is transferred to .............

1. General reserve
2. Capital reserve
3. P/L account
4. P/L appropriation account

Q3. Voluntary return of shares by shareholders to the company for cancellation is called:

1. Transfer of shares
2. Forfeiture of shares
3. Surrender of shares
4. Buyback of shares

Q4. Stock is a consolidation of.............. Shares .

1. Partly paid
2. Fully paid
3. Equity
4. Sweat

Q5. Preference shareholders are entitled to a fixed rate of.........

1. Interest
2. Dividend
3. Coupon
4. Capital

Q6. ............. Is deducted from the called-up capital in order to calculate paid-up capital .

1. Calls in arrear
2. Calls in advance
3. Uncalled capital
4. Reserve capital

Q7. On forfeiture of shares, which of the following account is credited with the amount of money already received on such shares?

1. Shares forfeited a/c
2. Share capital a/c
3. Unpaid calls a/c
4. Share premium a/c

Q9. Shares which carry preferential rights are called ...............

1. Equity shares
2. Preference shares
3. Sweaty equity
4. Green shoe

Q10. Preference shares can be redeemed................

1. If they are fully paid up
2. If they are partly paid up
3. If they are convertible
4. None of these