Question 1 :
'Samta Limited invited applications for issuing $6,750$ equity shares of $Rs 10$ each. The amount was payable as follows : On application - $Rs 3$ per share <br>On allotment - $Rs 5$ per share <br>On first and final call - $Rs 2$ per share <br>The issue was fully subscribed. Subhash applied for $250$ shares and paid his entire share money with application. Moti applied for $175$ shares and paid allotment money also with application. The amount received with applications was :<br>
Question 2 :
The business of partnership firm must be carried on by all the partners.
Question 3 :
On the admission of a new partner, the decrease in the value of assets is debited to:<br/>
Question 4 :
State whether the following statements are True and False.<br>When goodwill is paid privately, its entry in the books of accounts is not required.
Question 5 :
Profit or loss on revaluation of assets and liabilities is transferred to __________.
Question 6 :
Which of the following assumes paramount importance for investing surplus cash by a firm?
Question 8 :
When the incoming partner brings in his share of premium for goodwill in cash, it is adjusted by crediting to ____________ .
Question 9 :
If the incoming partner is to bring in premium for goodwill in cash and also balance exist, in the goodwill Account, then this Goodwill Account is written off among the old partners in _________ .
Question 10 :
'Samta Limited invited applications for issuing $6,750$ equity shares of $Rs 10$ each. The amount was payable as follows : On application - $Rs 3$ per share <br>On allotment - $Rs 5$ per share <br>On first and final call - $Rs 2$ per share <br>The issue was fully subscribed. Subhash applied for $250$ shares and paid his entire share money with application. Moti applied for $175$ shares and paid allotment money also with application. The amount received with applications was :<br>
Question 11 :
On the admission of a new partner, the decrease in the value of assets is debited to:<br/>
Question 12 :
Profit or loss on revaluation of assets and liabilities is transferred to __________.
Question 13 :
A,B, C and D are four partners in a firm sharing profits and loss in the ratio of 18:15:18:3, D retires from the firm and his share of profit is purchased by the remaining partners A,B and C as 1/54,1/54 and 1/54.<br/>What is the gaining ratio remaining partners?
Question 14 :
X,Y and Z are partner sharing profits in the ratio of $5:3:2$. If $Y$ retires then the new ratio will be______.
Question 15 :
When the incoming partner brings in his share of premium for goodwill in cash, it is adjusted by crediting to ____________ .
Question 16 :
_____ refers to that part of the issued capital which has actually been subscribed by the public.
Question 18 :
Y Ltd. forfeited 50 shares of Rs 100 each issued at 10% premium on which allotment money of Rs 30 per share (including premium) and first call of Rs 30 per share were not received and the second and final call of Rs 20 per share was not yet called. 20 of these shares as Rs 80 paid up for Rs 70 per share.<br/>On re-issue, the Share Capital Account will be ___________________.
Question 19 :
The balance in capital reduction a/c after writing off all accumulated loss, fictitious assets and overvalued assets are transferred to _______.
Question 20 :
A company can issue preference shares which are redeemable after the expiry of $20$ years from the date of its issue.
Question 21 :
As per Companies Act, $2013$ a company must prepare its books as per _________.
Question 22 :
Share or Security Premium can be used for writing off _____________.
Question 23 :
Z Ltd. Forfeited $20$ shares of $Rs. 10$ each, on which $Rs. 6$ per share were called up and $Rs. 4$ per share were paid. What is the minimum price of reissue of these shares are fully paid up?
Question 25 :
The interest on calls-in-advance is paid for the period from the _________.
Question 27 :
C consigned goods costing Rs 6,000 to his agent. Freight and insurance paid by consignor Rs 200. Consignee's expenses Rs 200. 4/5th of the goods were sold for Rs 3,000. Commission 2% on sales. Consignee wants to settle the balance with the help of a bank draft. The amount of draft will be _______________.
Question 31 :
For which of the following purposes share premium of the company can not be used in case the company issues share at premium?
Question 32 :
X Ltd. forfeited 10 shares of Rs 10 each issued at a discount of 10% to Y on which a second & financial call of Rs 4 was not yet called and a first call of Rs 4 was not received. 8 of these shares were reissued as Rs 8 called up for Rs 7.50 per share. On reissue, the Share Capital will be ____________.<br/>
Question 34 :
If a company has the word limited at the end of its name, this means that the _________.
Question 35 :
In the absence of partnership agreement, interest on drawings of a partners is charged :
Question 37 :
A company has issued $15,000$ shares of $Rs. 10$ each. The amount has been demanded as under:<br>On Application - $Rs. 3$ On Allotment - $Re. 1$<br>On $1st$ Call - $Rs. 4$ On $2nd$ and Final Call - $Rs. 2$<br>A shareholder holding $500$ shares did not pay $1st$ and $2nd$ call money. His shares have been forfeited. These shares have been reissued @ $Rs. 9$. The amount transferred to Capital Reserve is
Question 38 :
A Ltd. issued shares of $Rs. 10$ each at a discount of $10$%. Mr. B purchased $60$ shares and paid $Rs. 2$ on application but did not pay the allotment money of $Rs. 3$. If the company forfeited his entire shares, the forfeiture account will be credited by _____________.
Question 40 :
The Balance in the retiring or deceased partner's capital account is transferred to the _________capital account in the profit sharing ratio. 
Question 43 :
State, with reasons, whether the following statements are True or False.<br/>A share certificate is a bearer document.
Question 45 :
X Co. forfeits $1000$ shares. If $Rs. 10$ each called up and only $Rs. 5$ paid on application. The amount to be forfeited is ___________.
Question 46 :
When shares are issued to promoters for their services, the account that will be debited is ______________.
Question 47 :
X Ltd. forfeited 10 shares of Rs 10 each issued at a discount of 10% to Y on which a second & final call of Rs 4 was not yet called and a first call of Rs 4 was not received. 8 of these shares were reissued as Rs 8 called up for Rs 7.50 per share. On forfeiture the Share Capital will be ___________.
Question 48 :
A limited company forfeited 300 shares of Mr. X who had applied for 500 shares on account of non-payment of allotment money Rs 3 + 2 (premium) and first call Rs 2. Only Rs 3 per share was received with application. Out of these 200 shares were re-issued to Mr. Y as fully paid shares for Rs 8 per share excluding premium. The Profit on re-issue is __________.
Question 49 :
While making an adjusting entry in respect of interest on capital, we credit __________________.
Question 50 :
The discount allowed on reissue of forfeited shares is debited to _________________.
Question 51 :
State, with reasons, whether the following statement is True of False<br>The holder of share warrant may not be given full right of membership.
Question 54 :
state the following statements are True or False:An individual can become a part of the company if the individual purchases the companies debt. 
Question 55 :
A and B enter into a joint venture to underwrite shares of K Ltd. K Ltd. make an equity issue of 100,000 equity shares. 80% of the shares underwritten by the venturer. 80,000 shares are subscribed by the public. How many shares are to be subscribed by the venture?
Question 56 :
State, with reasons, whether the following statements are True and False.<br>The rate of interim dividend is greater then final dividend.
Question 57 :
The maximum amount beyond which a company is not allowed to raise funds, by issue of shares, is its _______________.
