Questions Paper BSNL Jonior Accounts Officers (JAO)

Q2. Rights shares mean the shares which are

1. Issued to the directors of the company.
2. First offered to the debenture-holders
3. First offered to the existing shareholders.
4. Issued by a newly formed company

Answer: C

Q3. X Ltd. forfeited 30 shares of Rs. 10 each fully called-up for non- payment of allotment money of Rs. 3 per share and call money of Rs. 4 per share. These share are re-issued for Rs. 8 per share fully paid. What is the amount to be trans- ferred to capital reserve account?

1. Rs. 300
2. Rs. 60
3. Rs. 30
4. Rs. 90

Answer: C

Q4. X Ltd. forfeited 20 shares of Rs. 10 each, Rs. 8 called-up, on which John had paid application and allotment money of Rs. 5 per share of these, 15 shares were re-issued to parker as fully paid- up for Rs. 6 per share. What is the balance in the share forfeiture account after the relevant amount has been transferred to capital Reserve Amount

1. Nil
2. Rs. 5
3. Rs. 25
4. Rs. 100

Answer: C

Q5. A Ltd. issued a prospectus inviting application for 2,000 shares. Applications were received for 3,000 shares and pro rata allotment was made the application for 2,400 shares. If white had been allotted 40 shares, how many shares he must h applied for?

1. 40
2. 44
3. 48
4. 52

Answer: C

Q6. X Ltd. forfeited 20 shares of Rs. 10 each s which Rs. 4 per share were paid, what min price Company must charge if the forfeited; are re-issued as Rs. 8 per share paid-up?

1. Rs. 2 per share.
2. Rs. 4 per share
3. Rs. 8 per share.
4. Rs. 10 per share

Answer: B

Q7. Which of the following may be utilised by a limited company for the redemption of redeemable preference shares?

1. General Reserve.
2. Dividend Equilisation Fund.
3. Profit and loss account balance.
4. All of these.

Answer: D

Q8. Redeemable preference shares of Rs. 2,00,000 are redeemed at par for which purpose fresh equity capital of Rs. 80,000 is issued at par. What amount should be transferred to capital Redemption Reserve Account?

1. Nil
2. Rs. 80,000
3. Rs. 1,20,000
4. Rs. 2,00,000

Answer: C

Q9. When shares are forfeited, capital account is debited by

1. Nominal value of shares.
2. Paid-up amount on shares '
3. Called-up amount on shares, IB
4. Forfeited amount.

Answer: C

Q10. The profit or loss disclosed by the accounts of company is

1. Transferred to share capital account
2. Shown in the column of “Current liabilities and provisions’’
3. Shown in the column of ‘Reserves and surplus ’ under a separate account
4. Transferred to General Reserve

Answer: C