Solved MCQs for Accounting for Internal Reconstruction, Accounting for Internal Reconstruction MCQs with answers PDF download, Bachelor of Business Administration (BBA), Human Resource Management Principles and Functions, Reading on Indian Constitution, Secularism and Sustainable Environment, Transactions- Essential English Language Skills. 10 each. 19. answer choices. throughout their Academic career. 0000002930 00000 n ,ffFP7(]Pa&i& b+ + bg Internal Reconstruction | Specialty Quiz - Quizizz Consent of creditors is not required if capital reduction involves the writing off of paid up capital lost or not represented by available assets. The expenses for forming and implementing scheme should be debited to ____________ .a) security premium b) share capital c) Internal reconstruction d) capital reduction, 15. 500000, Micro Economics Notes and Important Questions, Reducing share capital by returning the excess capital, Reducing the liability on account of uncalled capital. 500000 divided into 50000 shares of Rs. Save my name, email, and website in this browser for the next time I comment. 780+ Corporate Accounting Solved MCQs with PDF Download - McqMate [Solved] Internal reconstruction is done due to A Ltd. with a share capital of 10,000 equity shares of Rs. PDF Chapter - 1 : Amalgamation, Absorbtion and External Reconstruction (As The scheme of internal reconstruction requires approval of ____________ .a) Shareholders b) Central Government c) NCLT d) all the above, 7. in Bangalore here: Software Service In internal reconstruction, increase in the value of fixed assets is credited to. A company is free to reduce or extinguish the uncalled liability of its members. Irk#nf`S_Jlhf6+xx?$UZ$yZ}opP~ fCJ[1[nS+\M]_pOgut9qiWb|Tr@r`Xj 8p2_7y#@DZpNS80dJ^3S2RzP3;! The objective of reconstruction is to write off ___________ .a) profit b) accumulated losses c) nil d) none of the above, 18. 5 per share thus making each share of Rs. 0000001241 00000 n Company Liquidation Accounts. All rights reserved. Merged with another co. Learn more. In a scheme of reorganization amount of shares surrendered by shareholders is transferred to: 12. The Shareholders can surrender shares for ________ or ____________ .a) re-issue, cancellation b)Fresh Issue, Redemption c) none of the above, 5. 5. 0000003418 00000 n Main aim of this blog is to provide all academic resources and information's especially for Commerce Stream Students. In internal reconstruction, amount sacrificed by shareholders are credited to.. Internal reconstruction is a slow and tedious process since it required the approval of : After the implementation of the scheme of internal reconstruction , any surplus in /PN|]fR9RW*YGfS{5B:>$VYq&Lop WGV1="]GVR:8M A company resorts to internal reconstruction or capital reduction only in exceptional circumstances. 100 each, subdivided the shares into 50000 shares of Rs. Company Liquidation Accounts. Accounting for Internal Reconstruction Multiple choice questions and answers. 100 each. hVN;?*:_ startxref MCQ on Internal Reconstruction : Multiple choice questions and answers December 18, 2021 by Abhimaynu Multiple choice questions and answers 1. The full balance of capital is to be debited, if _____________ value is reduced. throughout their Academic career. Internal Reconstruction - Advanced Accounting - MCQ Test - Teachmint 100 each, converts it into stock. 16. Accounting Standard for amalgamation is: AS-3 AS-9 AS-12 AS-14 (AS-14 deals with accounting for amalgamation) Answer :- AS-14 (AS-14 deals with accounting for amalgamation) 2. according to AS - 14, purchase consideration is the sum of payments made to the: Debenture holders and Shareholders Shareholders 10 each fully paid. We provide you study material i.e. 500000. b) X Ltd. Having a share capital of Rs. 1. hb```f``c`e`icd@ Ar400kPQ{!{GGCG+CP q #s*m,f.HfEZX7``~d1/s ` ! Share Capital A/c (100) Dr. 500000, Share Capital A/c (10) Cr. The scheme of internal reconstruction involves ___ company. A company is free to reduce or extinguish the uncalled liability of its members. MULTIPLE CHOICE QUESTIONS 1. __________ resolution is to be passed by shareholders for approval of scheme of reconstruction.a) ordinary b) Special c) both a & b d) none of the above, 8. Reduction of capital is unlawful except when sanctioned by the court. Multiple Choice Questions and Answers 1. Hn0w?Gr "% 2t0 30 seconds. Accounting for Internal Reconstruction. 0000003758 00000 n 10 each fully paid decides to repay Rs. 0000006175 00000 n A company must pass a special resolution for reduction of capital. Internal Reconstruction of Company Capital Restructuring MCQs U,]]. When two or more companies carrying on similar business decide to combine, a new company is formed, it is known as (A) Amalgamation (B) Absorption (C) Internal reconstruction (D) External reconstruction 2. 18. Restructuring Internal Reconstruction 22 State an arrangement whereby the assets of two ro more companies come under the control of one company? 22. 21.Only unsuccessful companies undertake capital reduction. Agreement. Shareholders not approving scheme is called _________ shareholders.a) dissenting b) paying c) pay disentient shareholders d) none of the above, 13. endstream endobj 23 0 obj <> endobj 24 0 obj <> endobj 25 0 obj <>stream :u4$L"G0cOpe"MH3SIoIe?+-;YH1k G@bV+o hbbd```b``"A$v Corporate Accounting MCQ Question Bank Reconstruction of Companies. endstream endobj 26 0 obj <>stream Question 2. All rights reserved. Q. Alteration of share capital can be affected by passing an ordinary resolution. Internal Reconstruction MCQ (Free) | Capital Reduction September 29, 2021 11. It decides to convert its capital into 20,000 equity shares of Rs. Friends ye artical ke alava other subject Ke bhi article aapko mere website per mil jaenge jiska link me aapko niche de raha hu. A company must pass a special resolution for reduction of capital. 20. 100 each, subdivided the shares into 50000 shares of Rs. TYBCom-Sem-VI-Financial Accounting MCQs - Studocu Semantic reconstruction of continuous language from non-invasive brain Win vouchers worth INR 2,000 with our School Referral Program, Ranked Amongst Top 25 Companies by LinkedIn. 0000007752 00000 n Download CA Inter Notes Pdf May 2022 - CA Test Series objective of our platform is to assist fellow students in preparing for exams and in their Studies It decides to convert its capital into 20,000 equity shares of Rs. 94 of the companies act, a limited company can increase, sub-divide or consolidate all or part of its existing share if authorised by its articles of association. 61 of the companies act, 2013, a limited company can increase, sub-divide or consolidate all or part of its existing share if authorised by its articles of association. 25. 26. 0000001427 00000 n Companies may combine in following ways (i) absorption (ii) amalgamation (iii)external reconstruction (iv)internal reconstruction (v) merger (a) any of above (b) none of above (c) any except (iv) (d) any except (v) 2. 500000 divided into 5000 shares of Rs. reconstruction? Answer :- Increases 2. answer choices. The cancellation of contingent liability is____ for company. 12. PDF Question Bank Corporate Restructuring Sem Vi Oct. 2020 - Rset In internal reconstruction, the existing company will be In case of Internal Reconstruction payment of contingent liability is debited to a) Profit & Loss A/c b) Capital Reduction A/c c) Realisation A/c d) Other 53) Any gain on payment of liability under External Reconstruction is credited to If there is any balance in the capital reduction account after writing off all the accumulated losses, then the same is transferred to: (i) Share capital account The scheme of internal reconstruction can be utilized to provide ____________ for the company.a) funds b) share capital c) dividend d) none of the above, 16. Our moto is to make Responsible Accountant and Employee of whichever is field whether student be like . Get the essential details like: The number of papers The frequency of exams The manner of registration and exams, Eligibility, Exemptions, and Exam Dates For ICAI Ca Inter May 2022. The full balance of capital is to be debited, if _____________ value is reduced.a) face b) market c) both of a & b d) none of the above, 12. I am Gold educator on teachmint online live classes app, I am Post Graduate from Commerce and Direct Course of Law, We have provide all courses of Commerce as well as banking and IBPS Competitive exam Course and also provide Tally Erp 9 + GST Module at offline Training mode. capital reduction A/C will be transfer to: Business Ethics and Corporate Social Responsibility (BECSR). For writing off the accumulated Josses under the scheme of capital reduction, we debit: 6. Under which of the following circumstances can a company resort to internal Currently, however, non-invasive language decoders . 0 capital reduction A/C is transferred to : After the implementation of scheme of internal reconstruction, any amount left in the s HQJo.& ;&|&LZ$w$\bRp|)oG@4}=& C8Yn*]izM6fVjAVjEM'#Y+Lx4=_TZ%x9GbmiH2y2R We would like to show you a description here but the site won't allow us. Let's take a quick look at the CA Inter Course before diving into the specifics of the ICAI CA Inter Mcq Notes 2022. Company Final Accounts. The Balance Sheet prepared after implementation of the scheme is to be prepared as per ____________.a) Schedule IV b) Schedule VI c) Schedule II d) Schedule III, 14. Section 66 of the companies Act governs the internal reconstruction. In internal reconstruction neither the existing company is liquidated, nor is a new company incorporated. Internal Reconstruction MCQ (Free) | Capital Reduction 3. Turn around. If the creditors are willing to reduce their claims against the company, (hen the amount of reduction in their claim will be transferred to, 10. In case of sub-division of share capital the total number of shares Increases Decreases Does not change. The reduction of capital is permitted under _____________ of Companies Act.a) 77 b) 100 c) 66 d) 75, 2. Ans: b) Revenue Profit. In a scheme of reorganisation amount of shares surrendered by shareholders is transferred to: 13. Internal reconstruction. 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When a company converts its equity shares into the capital stock, then the account to be credited is: 4. Computerized Accounting Practices. Merger Buyout Joint Venture De-merger 23Which merger involves firms engaged in unrelated types of activities? 0000009547 00000 n <<0ABB1FF79DCA334A925490CD6BFFDF14>]>>