J%7uI 8vjYZOM}r,2s.Z 'Xj:8A3v8^X.x=a4$ 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. b) X Ltd. Having a share capital of Rs. 0000003198 00000 n
in Bangalore here: Software Service The expenses for forming and implementing scheme should be debited to ____________ .a) security premium b) share capital c) Internal reconstruction d) capital reduction, 15. In case of sub-division of share capital the total number of shares, 2. c) Super Profit. Accounting for Internal Reconstruction Multiple choice questions and answers. endstream
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c) Capital Reduction. 5 per share thus making each share of Rs. To carry out capital reduction, permission is required from: a) X Ltd. Having a share capital of Rs. 0 ]
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V[H,Q~$agt8O4js_22Q|Waoq\WU Here we are providing Notes , MCQs , Question Bank , Notes on Current Affairs & Many More. A company has issued capital of 10,000 equity shares of Rs. Holding Company Accounts. 0000004701 00000 n
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The word And reduced cannot be added to the name of the company if no direction has been given by the court. (C) Internal reconstruction (B) Absorption (D) External reconstruction While calculating purchase price, the following values of assets are considered Book value (C) Average values (B) Revised Value (D) Market values Shares received from the new company are recorded at - Face value (C) Market value (B) Average price Equity share capital A/c Dr. 500000, Equity Stock A/c Cr. 0000009805 00000 n
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Accounting for Internal Reconstruction. The scheme of internal reconstruction involves ___ company. 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. Question and answers in Accounting for Internal Reconstruction. Alteration of share capital can be affected by passing an ordinary resolution. 500000 divided into 5000 shares of Rs. 30 seconds. 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. Internal reconstruction definition, the hypothetical reconstruction of an earlier stage of a language or of some part of it, as its phonology, by deductions from irregularities in its present structure, as the reconstruction of a stage in English when certain instances of r were related to s in a systematic way by comparing the pair was:were to other pairs, as lose:forlorn. 10 each. 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. Ans: a) Capital Profit. Multiple Choice Questions and Answers (MCQs), Financial Statement and Financial Statements Analysis, MCQ on Internal Reconstruction and Capital Reduction. Accounting for Amalgamation, Absorption and External. a) face b) market c) both of a & b d) none of the above 12. Internal Reconstruction MCQ MCQs on other topics of Financial Accounting Cost Accounting MCQs pdf 1. 8) Pre-acquisition profit is a) Capital Profit. 43 0 obj
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KZCO2IJaDR,~Tt,!Oq]RA>z$\IU If the ABC Limited and DEF Limited are taken over by a new company XYZ Limited 10 each fully paid decides to repay Rs. 20. 10. Number 8/2 & 9, Sarjapur Road, Bengaluru, Karnataka- 560 103. 100 each, subdivided the shares into 50000 shares of Rs. In internal reconstruction, the existing company will be . Redemption of preference shares in accordance with the provisions of section 80 is reduction of preference share capital. 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 5 per share thus making each share of Rs. 0000001960 00000 n
b) Absorption. If there is any balance in the capital reduction account after writing off all the accumulated losses, then the same is transferred to: 8. MULTIPLE CHOICE QUESTIONS 1. Accounting procedure when internal reconstruction made 36) 7. 0000003758 00000 n
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The video explains important mcqs on Internal Reconstruction of company #Capital Reduction #Account 10 each fully paid decides to repay Rs. 1.If there is any balance in the capital reduction account after writing off all the accumulated losses then the same is transferred to ; (A) Share Capital Account (B) Capital Reserve Account (C) General Reserve Account (D . It is a case of: (i) Reducing share capital by returning the excess capital, (ii) Reducing the liability on account of uncalled capital. Consent of creditors is required if capital reduction involves diminution of liability regarding uncalled capital or return of paid up capital. The Capital reduction means reduction in ____________ value of shares.a) authorized capital b) Called up capital c) Uncalled capital d) paidup value, 3. 1. Answer :- Increases 2. b) Revenue Profit. 11. According to sec. Merger Buyout Joint Venture De-merger 23Which merger involves firms engaged in unrelated types of activities? Currently, however, non-invasive language decoders . xref
Bring down the assets to their true values. ,ffFP7(]Pa&i& b+ + bg
#2 MCQ for TYBCOM Sem 5 - Internal Reconstruction MCQ's - Financial AccountingThis lecture series contains all the MCQs related to TYBCOM Sem 5 - Financial AccountingFinancial Accounting MCQs Link:https://scholarsclasses.com/blog/preparation-of-final-accounts-of-companies-mcq/TYBCOM Sem 5 MCQs Link:https://scholarsclasses.com/blog/tybcom-sem-5-mcq/TYBCOM Sem 5 MCQs Lecture link:https://youtube.com/playlist?list=PLJ_81_DlRlyfEuIryW3MX4GvicwzWkHLKPlease like, share, and subscribeVideo Presented by :Prof. Tauseef Khan (M.Com, MBA, UGC - NET)Follow us on :Facebook: https://www.facebook.com/tauseef89/Twitter: https://twitter.com/tauseef_sirInstagram: https://www.instagram.com/tauseefsirVisit our websitehttps://www.scholarsclasses.com/blog#scholarszilla#tybcommcq#tauseefsir 12. Any loss on revaluation of the assets at the time of internal reconstruction, will be charged from. 0
It is a case of, 9. xb```"WV AX,p}GynByz||kWU]{KYD$9#c'{-(&P!M cE.IJdKyAJR'![FQ[[F,r8|m5@+@nh``@P,@0yl 0000000016 00000 n
Internal reconstruction. It decides to convert its capital into 20,000 equity shares of Rs. (a) 1 (b) 2 (a)3 (a) many 4. endstream
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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 Learn more. Court Confirmation Order has to be registered with the __________ of companies.a) NCLT b) share capital c) Registrar d) none of the above, 19. Section 66 of the companies Act governs the internal reconstruction. 31) Reconstruction includes all of the following except 32) . The full balance of capital is to be debited, if _____________ value is reduced. Ans: c) Capital Reduction. 10 each fully paid. __________ 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. 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. endstream
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A company must pass a special resolution for reduction of capital. It is a case of, Answer :- Reducing share capital by returning the excess capital, 5. 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. If the creditors are willing to reduce their claims against the company, (hen the amount of reduction in their claim will be transferred to, 9. 0
In internal reconstruction, increase in the value of fixed assets is credited to. Manan Prakashan 1 CHAPTER - 1 : AMALGAMATION, ABSORBTION AND EXTERNAL RECONSTRUCTION (AS - 14) MULTIPLE CHOICE QUESTIONS. The reduction of capital is permitted under _____________ of Companies Act.a) 77 b) 100 c) 66 d) 75, 2. endstream
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/PN|]fR9RW*YGfS{5B:>$VYq&Lop WGV1="]GVR:8M answer choices. Copyright 2023 McqMate. a) X Ltd. Having a share capital of Rs. External reconstruction. 500000 divided into 50000 shares of Rs. 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. 0000006175 00000 n
McqMate.com is an educational platform, Which is developed BY STUDENTS, FOR STUDENTS, The only The reduction of capital is permitted under _____________ of Companies Act. capital reduction A/C is transferred to : After the implementation of scheme of internal reconstruction, any amount left in the In case of , one existing company takes over the business of another company and no new company is formed 500000. b) X Ltd. Having a share capital of Rs. The fictitious debit balances are to be transferred to ___________ Account.a) internal reconstruction b) security premium c) share capital d) Capital Reduction, 9. 18. %PDF-1.4
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Corporate Accounting Multiple Choice Questions and Answers, Mumbai University B.Com - MCQs, Exam MCQs and Solved Papers, Auditing MCQs Multiple Choice Questions and Answers | Auditing MCQs For B.Com, CA, CS and CMA Exams, Management Accounting MCQs [Multiple Choice Questions and Answers], MCQ On Budget and Budgetary Control | Multiple Choice Questions and Answers, MCQ on Accounts of Holding Companies [Multiple Choice Questions and Answers], Corporate Accounting Multiple Choice Questions and Answers (MCQs) | Company Accounts MCQs. 500000, Micro Economics Notes and Important Questions, Reducing share capital by returning the excess capital, Reducing the liability on account of uncalled capital. 0000031742 00000 n
Computerized Accounting Practices. Forfeiture and Surrender of shares is a case of capital reduction. Accounting for Internal Reconstruction [Set 1] PDF, Accounting for Amalgamation, Absorption and External, Chapter: Accounting for Internal Reconstruction. Company Liquidation Accounts. 59 0 obj
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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. Reduction of capital is unlawful except when sanctioned by the court. Corporate Accounting MCQ Question Bank Reconstruction of Companies. 5. I am also working on some other websites which will be published soon. %%EOF
/FV.)|[%;$3 >% LMhLI3kve^v2zWl:{ eM>"2+hY$Jddt'i;|` 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. 26. In which of the following cases, procedure of reduction of capital is not called for: 11. Company Final Accounts. 7) Post-acquisition Profit is a) Capital Profit. 500000 divided into 5000 shares of Rs. TRpH[QU4] (kB7v 11. (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. Holding Company Accounts. 5 each. 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 capital reduction A/C is transferred to : After the implementation of scheme of internal reconstruction, any amount left in the capital reduction A/C will be transfer to: hVN;?*:_ 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. A company is free to reduce or extinguish the uncalled liability of its members. Main aim of this blog is to provide all academic resources and information's especially for Commerce Stream Students. https://www.surajpateleducation.com/2021/01/marketing-research-tybcom-mcq-pdf.html, https://www.surajpateleducation.com/2020/12/human-resource-management-tybcom-mcq.html, https://www.surajpateleducation.com/2020/12/cost-accounting-tybcom-mcq-pdf.html, https://www.surajpateleducation.com/2020/10/mcom-tybcom-indirect-tax-20-most.html, https://www.surajpateleducation.com/2020/09/direct-tax-sem-v-atkt-question-bank-2020.html, Strategic Management Question Bank Than Pay Rs 100 Only, Dosto Agar App Vedio Dekhana Chate Ho Related Education To Aap Mere Youtube Channel Par Jaskate Ho Dosto Niche Link Derha Hu, DIRECT TAX SEM V (ATKT) Question Bank-2020, F.Y.B.COM Environmental Studies MCQ PDF | Environmental Studies MCQ, T.Y.B.COM MCQ | T.Y.B.COM Mumbai University All Subject MCQ, ADVANCED CORPORATE ACCOUNTING M.COM PART 1 MCQ. HT=s0+8xDmC?AX9jbN:w)Pgj!V-[._
KDaTJj1~' 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. 0000003418 00000 n
For writing off the accumulated Josses under the scheme of capital reduction, we debit, 6. In case of Internal Reconstruction , the company is. 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. Shareholders not approving scheme is called _________ shareholders.a) dissenting b) paying c) pay disentient shareholders d) none of the above, 13. 3. . No journal entry is required for cancellation of unissued share capital. 500000 divided into 5000 shares of Rs. Reduction of capital is unlawful except when sanctioned by the court. In case of sub-division of share capital the total number of shares: 2. The Capital reduction means reduction in ____________ value of shares. 10 each, consolidated the shares into 5000 shares of Rs. 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 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, 3. 0000002930 00000 n
Accounting for Amalgamation, Absorption and External. answer choices. a) 77 b) 100 c) 66 d) 75 2. 15. 10 each, consolidated the shares into 5000 shares of Rs. In a scheme of reorganization amount of shares surrendered by shareholders is transferred to: 12. 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 capital reduction A/C is transferred to : When a company converts its equity shares into the capital stock, then the account to be credited is , 4. Under which of the following circumstances can a company resort to internal Q. more mcqs. Capital Reduction Account is ________ by payment of reconstruction expenses.a) credited b) debited c) Cash Account d) none of the above, 17. A company must pass a special resolution for reduction of capital. A Ltd. with a share capital of 10,000 equity shares of Rs. The objective of reconstruction is to write off ___________ .a) profit b) accumulated losses c) nil d) none of the above, 18. 30 seconds. Copyright 2023 McqMate. Q. Any loss on revaluation of the assets at the time of internal reconstruction, will be charged from. If there is any balance in the capital reduction account after writing off all the accumulated losses, then the same is transferred to , 7. Important Links: Save my name, email, and website in this browser for the next time I comment. 64 of the Companies Act, 2013 the company shall give notice of the alternation of capital to the registrar within 45 days. In which of the following cases, procedure of reduction of capital is not called for: (iii) Surrender of shares or gift of shares. M.A EXAM :- https://t.me/mastudentsexam, https://www.youtube.com/channel/UCv8JIY58xfWHUIXVu9wxNHw. For writing off the accumulated Josses under the scheme of capital reduction, we debit: 6. Latest Reconstruction of companies MCQ Objective Questions Top Reconstruction of companies MCQ Objective Questions Exam Preparation Simplified Learn, practice, analyse and improve Get Started for Free Download App Trusted by 3.9 Crore+ Students Related MCQ Merger& Amalgamation MCQ Exams TNPSC Group 1 TNPSC Group 2 RRB Group D RRB NTPC 100 each, subdivided the shares into 50000 shares of Rs. Internal Reconstruction is also known as Capital Reduction. Cancellation of unissued capital is also a case of capital reduction. After the implementation of scheme of internal reconstruction, any amount left in the capital reduction A/C will be transfer to: For amalgamation in the nature of merger, the shareholders holding at least or more of the equity shares of the transferor company becomes the equity shareholders of the transferee company. Amount sacrificed by shareholders are credited to: 13. #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. 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. a) authorized capital b) Called up capital c) Uncalled capital 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 . objective of our platform is to assist fellow students in preparing for exams and in their Studies 1. Turn around. State whether the following statements are True or False: According to sec. 17. 55 0 obj
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The cancellation of contingent liability is____ for company. 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.
Consent of creditors is not required if capital reduction involves the writing off of paid up capital lost or not represented by available assets. A company resorts to internal reconstruction or capital reduction only in exceptional circumstances. The word And reduced cannot be added to the name of the company if no direction has been given by the court. GUD}%DQO}$m|@}L*#{`g5fd4"b~d|{\?1>c:-G $}gKYVAAy)>uvH/4SPHl"@@9HI,+XP f!M7fNG/_M=,(\q
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2g3O\b ^_T_ET_[JD=+x[oct;GYO|T-"['SRt~"7f Suraj Patel Education is one of the best blog on Education . 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 4~"\ 59 23
reconstruction? Internal Reconstruction MCQ (Free) | Capital Reduction September 29, 2021 11. In internal reconstruction neither the existing company is liquidated, nor is a new company incorporated. |4 Multiple Choice Questions 1)Voluntary winding up: a)If period fixed for the company is expired. 1. When two or more existing companies combine together to form a new company, it is termed as. All rights reserved. Internal reconstruction is done due to .. trailer
MCQ on Internal Reconstruction : Multiple choice questions and answers December 18, 2021 by Abhimaynu Multiple choice questions and answers 1. 5 fully paid. 22 0 obj
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Agreement. vt00 Attend Live Classes using Any Device be it Phone, Tablet or Computer, 5th Floor, North Wing, SJR Bachelor of Business Administration (BBA). Our website uses cookies to improve your experience. 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. Consent of creditors is not required if capital reduction involves the writing off of paid up capital lost or not represented by available assets. 0000009547 00000 n
10 each. A company is free to reduce or extinguish the uncalled liability of its members. 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. 6) Internal reconstruction means a) Amalgamation in nature of merger. 0000040014 00000 n
We provide you study material i.e. Accounting for Internal Reconstruction. Restructuring Internal Reconstruction 22 State an arrangement whereby the assets of two ro more companies come under the control of one company? 81 0 obj
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2t0 b) Revenue Profit. Redemption of preference shares is a case of capital reduction. d:b%aE2ag,jO=7^Mq*YTW%s\QQ]7,Z >cDu061`xxg]Q9*!:z5~m^&Wi=DJ?^rt3@Ey7ogblH@Pb Appreciation in the value of land & building is recorded on ________ side of Capital Reduction Account.a) credit b) debit c) both of a & b d) none of the above.
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