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xb```"WV AX,p}GynByz||kWU]{KYD$9#c'{-(&P!M cE.IJdKyAJR'![FQ[[F,r8|m5@+@nh``@P,@0yl hVN;?*:_ 780+ Corporate Accounting Solved MCQs with PDF Download - McqMate Amalgamation. Under Sec. (a) 1 (b) 2 (a)3 (a) many 4. Only unsuccessful companies undertake capital reduction. M.A EXAM :- https://t.me/mastudentsexam, https://www.youtube.com/channel/UCv8JIY58xfWHUIXVu9wxNHw. 100 each, converts it into stock. b) X Ltd. Having a share capital of Rs. In internal reconstruction, methods of calculation of purchase consideration is 33) Methods of capital reduction 34) While preparing Balance Sheet after reconstructed following points are to be kept in mind 35) 6. 5 per share thus making each share of Rs. When a company converts its equity shares into the capital stock, then the account to be credited is: 4. Eliminate the accumulated losses from the books. Here we are providing Notes , MCQs , Question Bank , Notes on Current Affairs & Many More. Multiple Choice Questions 1)Voluntary winding up: a)If period fixed for the company is expired. more mcqs. HyE$=T0dd$@>%o53mXe@8f2"0(#u8WLfR>|>ug2gcA9vQ]EFk`K%>)U"ih$OVFMGo&g2y.#d4H(!V$$ r t KZCO2IJaDR,~Tt,!Oq]RA>z$\IU %%EOF Alteration of share capital can be affected by passing an ordinary resolution. If the shares of smaller denomination-are converted into the shares of higher denomination without changing the total amount of share capital, then it is a case of: (iii) Decrease in unissued share capital. Redemption of preference shares is a case of capital reduction. (ii) Internal Reconstruction: Internal reconstruction means a recourse undertaken to make necessary changes in the capital structure of a company without liquidating the existing company. Bachelor of Business Administration (BBA). PDF Multiple Choice Questions Internal Reconstruction - Advanced Accounting - MCQ Test - Teachmint 500000 divided into 5000 shares of Rs. Merged with another co. It decides to convert its capital into 20,000 equity shares of Rs. hbbd```b``"A$v endstream endobj 26 0 obj <>stream Company Final Accounts. MCQ on Amalgamation and External Reconstruction - CMA TUTORS A company resorts to internal reconstruction or capital reduction only in exceptional circumstances. Ans: a) Capital Profit. %PDF-1.4 % When two or more existing companies combine together to form a new company, it is termed as. Vertical Horizontal Conglomerate Demerger TRpH[QU4] (kB7v Taken over. Internal Reconstruction MCQ (Free) | Capital Reduction capital reduction A/C is transferred to : After the implementation of scheme of internal reconstruction, any amount left in the 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. Win vouchers worth INR 2,000 with our School Referral Program, Ranked Amongst Top 25 Companies by LinkedIn. The video explains important mcqs on Internal Reconstruction of company #Capital Reduction #Account Merger Buyout Joint Venture De-merger 23Which merger involves firms engaged in unrelated types of activities? Accounting for Internal Reconstruction Important MCQs. 16. Company Liquidation Accounts. In internal reconstruction, amount sacrificed by shareholders are The difference in revaluation of assets is to be transferred to ___________ Account.a) internal reconstruction b) Capital Reduction c) security primium d) capital reserve, 10. 0000002930 00000 n PDFs for offline use. We take free online Practice/Mock test for exam preparation. Each MCQ is open for further discussion on discussion page. All the services offered by McqMate are free. In case of , one existing company takes over the business of another company and no new company is formed In which of the following cases, procedure of reduction of capital is not called for: 11. 10. 100 each, converts it into stock. 500000 divided into 5000 shares of Rs. 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. Follow me on YouTube - Dynamic Tutorials and Services. If there is any balance in the capital reduction account after writing off all the accumulated losses, then the same is transferred to , 7. Number 8/2 & 9, Sarjapur Road, Bengaluru, Karnataka- 560 103. Turn around. A company must pass a special resolution for reduction of capital. 5. Agreement. Important Links: 59 0 obj <> endobj Question and answers in Accounting for Internal Reconstruction. more mcqs. In internal reconstruction, the existing company will be . #2 MCQ for TYBCOM Sem 5 - Internal Reconstruction MCQ's - Financial AccountingThis lecture series contains all the MCQs related to TYBCOM Sem 5 - Financial A. 10 each, consolidated the shares into 5000 shares of Rs. State whether the following statements are True or False: According to sec. objective of our platform is to assist fellow students in preparing for exams and in their Studies 26. 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 In case of loss maximum remuneration is Rs.6 Lakhs in case effective capital is less than (a) 5Cr (b) 1Cr (a)25Cr (a) 50Cr 6. Amount sacrificed by shareholders are credited to: 13. A scheme of __________ or __________ mean the scheme having same effect.a) capital reduction or internal reconstruction b) Capital Reduction or External reconstructionc) none of the above. Learn more. Let's take a quick look at the CA Inter Course before diving into the specifics of the ICAI CA Inter Mcq Notes 2022. Reconstruction is a process by which affairs of a company are reorganized by revaluation of assets, reassessment of liabilities and by writing off the losses already suffered by reducing the paid up value of shares and/or varying the rights attached to different classes of shares. 64 of the Companies Act, 2013 the company shall give notice of the alternation of capital to the registrar within 45 days. c) Capital Reduction. 100 each, subdivided the shares into 50000 shares of Rs. Checkout Top Schools 15. J%7uI 8vjYZOM}r,2s.Z 'Xj:8A3v8^X.x=a4$ Forfeiture and Surrender of shares is a case of capital reduction. /FV.)|[%;$3 >% LMhLI3kve^v2zWl:{ eM>"2+hY$Jddt'i;|` Virtual Classroom and LMS Software | WizIQ A brain-computer interface that decodes continuous language from non-invasive recordings would have many scientific and practical applications. Section 66 of the companies Act governs the internal reconstruction. Q. Shareholders not approving scheme is called _________ shareholders. HUn9}om # Internal Reconstruction is also known as Capital Reduction. All rights reserved. wound up. Corporate Accounting MCQ Question Bank Reconstruction of Companies. 43 0 obj <>/Filter/FlateDecode/ID[<7F7D86F494A1CBF23FB2925BA8566F77>]/Index[22 34]/Info 21 0 R/Length 105/Prev 125909/Root 23 0 R/Size 56/Type/XRef/W[1 3 1]>>stream We provide you study material i.e. PDF Sample Questions For B.Com. ( Accounting & Finance) -Sem V 2019-2020 5 per share thus making each share of Rs. Company Final Accounts. GUD}%DQO}$m|@}L*#{`g5fd4"b~d|{\?1>c:-G $}gKYVAAy)>uvH/4SPHl"@@9HI,+XP f!M7fNG/_M=,(\q #d5*-1Kv 1,G( 4^:SiOfuN7"z~7~D`K773QspCMcJ|H"#6 r+i7.eW>Q3 sT 2g3O\b ^_T_ET_[JD=+x[oct;GYO|T-"['SRt~"7f Internal reconstruction is done due to .. xref 8) Pre-acquisition profit is a) Capital Profit. Accounting for Internal Reconstruction Multiple choice questions and answers. 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. 1. Our moto is to make Responsible Accountant and Employee of whichever is field whether student be like . Semantic reconstruction of continuous language from non-invasive brain The objective of reconstruction is to write off ___________ .a) profit b) accumulated losses c) nil d) none of the above, 18. a) authorized capital b) Called up capital c) Uncalled capital Internal Reconstruction MCQ (Free) | Capital Reduction Our website uses cookies to improve your experience. endstream endobj 71 0 obj <>stream endstream endobj 72 0 obj <>stream b) Revenue Profit. It is a case of, 9. 0000000756 00000 n Accounting procedure when internal reconstruction made 36) 7. It is a case of: (i) Reducing share capital by returning the excess capital, (ii) Reducing the liability on account of uncalled capital. [Solved] Internal reconstruction can be done by - McqMate 19. MULTIPLE CHOICE QUESTIONS 1. 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) Holding Company Accounts. 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. 10 each. Latest Reconstruction of companies MCQ Objective Questions - Testbook The reduction of capital is permitted under _____________ of Companies Act. 0000006175 00000 n startxref Bring down the assets to their true values. Capital Reduction Account is ________ by payment of reconstruction expenses.a) credited b) debited c) Cash Account d) none of the above, 17. The word And reduced cannot be added to the name of the company if no direction has been given by the court. 10 each, consolidated the shares into 5000 shares of Rs. 20. 500000 divided into 5000 shares of Rs. Accounting for Amalgamation, Absorption and External. When an existing company takes over the business of one or more existing companies, it is called. 5 fully paid. Shareholders not approving scheme is called _________ shareholders.a) dissenting b) paying c) pay disentient shareholders d) none of the above, 13. After the implementation of the scheme of internal reconstruction , any surplus in capital reduction A/C is transferred to : Reduction of share capital is possible by the company, if it is authorized by its: MCQs for Related Topics Zeitgeist- Reading on Contemporary Culture . Main aim of this blog is to provide all academic resources and information's especially for Commerce Stream Students. 500000 divided into 50000 shares of Rs. In case of Internal Reconstruction , the company is. Suraj Patel Education is one of the best blog on Education . endstream endobj 23 0 obj <> endobj 24 0 obj <> endobj 25 0 obj <>stream 0000007752 00000 n Internal reconstruction result in the reduction of the capital of the company. Reduction of capital is unlawful except when sanctioned by the court. gHc > &E]`v6DVMH HOf`a)XL?o D The word And Reduced is added to the name of the company for such period as the court deems fit. External reconstruction. 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. 10 each fully paid decides to repay Rs. JD%@"i0iB*c`EX Ixdp]A:DKp 7>+^wsvKC?0c oLm7{ V[H,Q~$agt8O4js_22Q|Waoq\WU For writing off the accumulated Josses under the scheme of capital reduction, we debit: 6. b) Absorption. The word And reduced cannot be added to the name of the company if no direction has been given by the court. 31) Reconstruction includes all of the following except 32) . AMALGAMATION, ABSORPTION & EXTERNAL RECONSTRUCTION - Quiz A company is free to reduce or extinguish the uncalled liability of its members. [Solved] Capital Reduction Account is a - mcqmate.com 59 23 6) Internal reconstruction means a) Amalgamation in nature of merger. Cancellation of unissued capital is also a case of capital reduction. Q. throughout their Academic career. For writing off the accumulated Josses under the scheme of capital reduction, we debit, 6. 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. Court Confirmation Order has to be registered with the __________ of companies.a) NCLT b) share capital c) Registrar d) none of the above, 19. 500000. b) X Ltd. Having a share capital of Rs. The term "Internal Reconstruction" means: (i) Reduction of Share Capital (ii) Variation of Shareholder's right (iii) Alternation of share capital (iv) All of the above 7. |4 Cancellation of unissued capital is also a case of capital reduction. The internal reconstruction results in proper valuation of _________ and __________ of companies.a) Profit & Loss Account b) reserve & surplus c) assets and liabilities d) none of the above, 6. a) X Ltd. Having a share capital of Rs. 3. In internal reconstruction neither the existing company is liquidated, nor is a new company incorporated. c) X Ltd. Having a share capital of Rs. c) Super Profit. . 4~"\ I am also working on some other websites which will be published soon.