The expenses for forming and implementing scheme should be debited to ____________ .a) security premium b) share capital c) Internal reconstruction d) capital reduction, 15. hb```f``c`e`icd@ Ar400kPQ{!{GGCG+CP q #s*m,f.HfEZX7``~d1/s ` !
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MCQ on Internal Reconstruction : Multiple choice questions and answers December 18, 2021 by Abhimaynu Multiple choice questions and answers 1. Accounting for Internal Reconstruction [Set 1] PDF, Accounting for Amalgamation, Absorption and External, Chapter: Accounting for Internal Reconstruction. Follow me on YouTube - Dynamic Tutorials and Services. 6) Internal reconstruction means a) Amalgamation in nature of merger. 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 objective of our platform is to assist fellow students in preparing for exams and in their Studies Accounting for Amalgamation, Absorption and External. For writing off the accumulated Josses under the scheme of capital reduction, we debit, 6. M.A EXAM :- https://t.me/mastudentsexam, https://www.youtube.com/channel/UCv8JIY58xfWHUIXVu9wxNHw. When a company converts its equity shares into the capital stock, then the account to be credited is , 4. Hey Guys, Myself Kumar Nirmal Prasad, a Teacher turned Full time Blogger and Investor. The Shareholders can surrender shares for ________ or ____________ .a) re-issue, cancellation b)Fresh Issue, Redemption c) none of the above, 5. 23. 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. Answer :- Increases 2. gHc >
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Internal reconstruction. Consent of creditors is required if capital reduction involves diminution of liability regarding uncalled capital or return of paid up capital. Shareholders not approving scheme is called _________ shareholders. No journal entry is required for cancellation of unissued share capital. 5. 26. vt00 The HUB, Sy. Valuation of Shares. Any loss on revaluation of the assets at the time of internal reconstruction, will be charged from. Download PDF. Q. Main aim of this blog is to provide all academic resources and information's especially for Commerce Stream Students. 1. 500000 divided into 50000 shares of Rs. endstream
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Internal Reconstruction is also known as Capital Reduction. 30 seconds. 16. c) Capital Reduction. c) Super Profit. Capital Reduction Account is ________ by payment of reconstruction expenses.a) credited b) debited c) Cash Account d) none of the above, 17. 11)face 12)dissenting 13)Schedule III 14)capital reduction 15)funds 16)debited 17)accumulated losses 18)Registrar 19)internal reconstruction 20)credit, HSC Question Paper 2023 12th Commerce (Download Free pdf), HSC OCM Paper 2023 March Maharashtra Board | Download Free Pdf, HSC SP Paper 2023 March Maharashtra Board | Download Free Pdf, HSC Hindi Paper 2023 March Maharashtra Board | Download Free Pdf, HSC English Paper 2023 March | Download Free Pdf, 11th OCM Chapter 8 Exercise (Introduction to Management) Maharashtra Board Free Resource, 11th OCM Chapter 7 Exercise (Business Environment) Maharashtra Board Free Resource, Financial Accounting Mcqs | More Than 700 Free MCQs, 12th SP Chapter 6 Solution (Correspondence with Members) Maharashtra Board Free Solution. b) Absorption. A company resorts to internal reconstruction or capital reduction only in exceptional circumstances. 100 each. Shareholders not approving scheme is called _________ shareholders.a) dissenting b) paying c) pay disentient shareholders d) none of the above, 13. a) X Ltd. Having a share capital of Rs. 25. 10 each, consolidated the shares into 5000 shares of Rs. 5 fully paid. 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. When an existing company takes over the business of one or more existing companies, it is called. Checkout Top Schools answer choices. 500000, Micro Economics Notes and Important Questions, Reducing share capital by returning the excess capital, Reducing the liability on account of uncalled capital. 0000009547 00000 n
The scheme of internal reconstruction requires approval of ____________ .a) Shareholders b) Central Government c) NCLT d) all the above, 7. 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. It is a case of, 9. The full balance of capital is to be debited, if _____________ value is reduced. Internal Reconstruction - Advanced Accounting - MCQ Test - Teachmint Test Details Internal Reconstruction All the best Starts Feb 02, 6:00 PM Duration 15 minutes Deadline Feb 02, 9:00 PM Maximum marks 20.0 marks Question type MCQ Total questions 10 questions Like Share 32 Views Kishor Suryawanshi 500000 divided into 5000 shares of Rs. A Ltd. with a share capital of 10,000 equity shares of Rs. 0000031742 00000 n
5 each. reconstruction? Ans: a) Capital Profit. HyE$=T0dd$@>%o53mXe@8f2"0(#u8WLfR>|>ug2gcA9vQ]EFk`K%>)U"ih$OVFMGo&g2y.#d4H(!V$$
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500000 divided into 5000 shares of 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 . I am also working on some other websites which will be published soon. 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. 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. Accounting for Internal Reconstruction Multiple choice questions and answers. Bring down the assets to their true values. Amount sacrificed by shareholders are credited to: 14. /PN|]fR9RW*YGfS{5B:>$VYq&Lop WGV1="]GVR:8M McqMate.com is an educational platform, Which is developed BY STUDENTS, FOR STUDENTS, The only Turn around. Amalgamation.
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. If the ABC Limited and DEF Limited are taken over by a new company XYZ Limited 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 Attend Live Classes using Any Device be it Phone, Tablet or Computer, 5th Floor, North Wing, SJR Multiple Choice Questions. 0000001534 00000 n
In internal reconstruction, the existing company will be . a) authorized capital b) Called up capital c) Uncalled capital TRpH[QU4] (kB7v 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. The word And Reduced is added to the name of the company for such period as the court deems fit. In case of Internal Reconstruction , the company is. Restructuring Internal Reconstruction 22 State an arrangement whereby the assets of two ro more companies come under the control of one company? 0000003418 00000 n
Important Links: The term Internal Reconstruction means: 7. more mcqs. 5 per share thus making each share of Rs. Ans: c) Capital Reduction. A company has issued capital of 10,000 equity shares of Rs. It decides to convert its capital into 20,000 equity shares of Rs. Holding Company Accounts. Merged with another co. 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. Consent of creditors is not required if capital reduction involves the writing off of paid up capital lost or not represented by available assets. startxref
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The reduction of capital is permitted under _____________ of Companies Act. J%7uI 8vjYZOM}r,2s.Z 'Xj:8A3v8^X.x=a4$ Merger Buyout Joint Venture De-merger 23Which merger involves firms engaged in unrelated types of activities? HT=s0+8xDmC?AX9jbN:w)Pgj!V-[._
KDaTJj1~' 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. Cancellation of unissued capital is also a case of capital reduction. Accounting for Internal Reconstruction. To carry out capital reduction, permission is required from: 14. 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 Eliminate the accumulated losses from the books. 500000 divided into 5000 shares of Rs. (a) 1 (b) 2 (a)3 (a) many 4. (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 43 0 obj
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Multiple Choice Questions and Answers 1. xb```"WV AX,p}GynByz||kWU]{KYD$9#c'{-(&P!M cE.IJdKyAJR'![FQ[[F,r8|m5@+@nh``@P,@0yl State whether the following statements are True or False: According to sec. 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. U,]]. 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. A company has issued capital of 10,000 equity shares of Rs. According to sec. throughout their Academic career. c) X Ltd. Having a share capital of Rs. 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. The Sub division of shares does not result in ___________ of capital.a) reduction b) added c) Compromise d) none of the above, 4. The scheme of internal reconstruction involves ___ company. more mcqs. 0000001241 00000 n
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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. . 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. s 10 each. The word And reduced cannot be added to the name of the company if no direction has been given by the court.
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4~"\ b) Revenue Profit. 31) Reconstruction includes all of the following except 32) . 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. |:a=Z&v)kgAN"6]tBzy!NS It is a case of: (i) Reducing share capital by returning the excess capital, (ii) Reducing the liability on account of uncalled capital. 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. Company Liquidation Accounts. in Bangalore here: Software Service In case of sub-division of share capital the total number of shares: 2. When a company converts its equity shares into the capital stock, then the account to be credited is: 4. endstream
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objective of our platform is to assist fellow students in preparing for exams and in their Studies 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) hVN;?*:_ Manan Prakashan 1 CHAPTER - 1 : AMALGAMATION, ABSORBTION AND EXTERNAL RECONSTRUCTION (AS - 14) MULTIPLE CHOICE QUESTIONS. <<0ABB1FF79DCA334A925490CD6BFFDF14>]>>
Forfeiture and Surrender of shares is a case of capital reduction. Multiple Choice Questions and Answers (MCQs), Financial Statement and Financial Statements Analysis, MCQ on Internal Reconstruction and Capital Reduction. Agreement. a) face b) market c) both of a & b d) none of the above 12. Share Capital A/c (100) Dr. 500000, Share Capital A/c (10) Cr. 18. Taken over. 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. Ixdp]A:DKp
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The objective of reconstruction is to write off ___________ .a) profit b) accumulated losses c) nil d) none of the above, 18. 0000002930 00000 n
JD%@"i0iB*c`EX A company is free to reduce or extinguish the uncalled liability of its members. McqMate.com is an educational platform, Which is developed BY STUDENTS, FOR STUDENTS, The only :u4$L"G0cOpe"MH3SIoIe?+-;YH1k G@bV+o In case of sub-division of share capital the total number of shares Increases Decreases Does not change. 0000001427 00000 n
Section 66 of the companies Act governs the internal reconstruction. 12. Irk#nf`S_Jlhf6+xx?$UZ$yZ}opP~ fCJ[1[nS+\M]_pOgut9qiWb|Tr@r`Xj 8p2_7y#@DZpNS80dJ^3S2RzP3;! When two or more existing companies combine together to form a new company, it is termed as. Company Final Accounts. 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. Save my name, email, and website in this browser for the next time I comment. Our moto is to make Responsible Accountant and Employee of whichever is field whether student be like . A company must pass a special resolution for reduction of capital. Q. --------- is the account created in connection with internal reconstruction. 7) Post-acquisition Profit is a) Capital Profit. 100 each. HUn9}om # 0000006983 00000 n
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2t0 |4 In which of the following cases, procedure of reduction of capital is not called for: (iii) Surrender of shares or gift of shares. Under Sec. A brain-computer interface that decodes continuous language from non-invasive recordings would have many scientific and practical applications. If there is any balance in the capital reduction account after writing off all the accumulated losses, then the same is transferred to , 7. endstream
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100 each, subdivided the shares into 50000 shares of Rs. 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. 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. c) Super Profit. 0000002299 00000 n
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Redemption of preference shares in accordance with the provisions of section 80 is reduction of preference share capital. In internal reconstruction neither the existing company is liquidated, nor is a new company incorporated. throughout their Academic career. Let's take a quick look at the CA Inter Course before diving into the specifics of the ICAI CA Inter Mcq Notes 2022. Multiple Choice Questions 1)Voluntary winding up: a)If period fixed for the company is expired. 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: Number 8/2 & 9, Sarjapur Road, Bengaluru, Karnataka- 560 103. 100 each, converts it into stock. Valuation of Shares. 22 0 obj
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In which of the following cases, procedure of reduction of capital is not called for: 11. Internal reconstruction is done due to .. 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. 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. The video explains important mcqs on Internal Reconstruction of company #Capital Reduction #Account Amount sacrificed by shareholders are credited to: 13. 11. It is a case of, Answer :- Reducing share capital by returning the excess capital, 5. 11. 1. trailer
hTA0>C. Amalgamation, Absorption & External reconstruction Multiple Choice Questions 1. capital reduction A/C is transferred to : After the implementation of scheme of internal reconstruction, any amount left in the Currently, however, non-invasive language decoders . The Capital reduction means reduction in ____________ value of shares.a) authorized capital b) Called up capital c) Uncalled capital d) paidup value, 3. We would like to show you a description here but the site won't allow us. 0000007752 00000 n
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2g3O\b ^_T_ET_[JD=+x[oct;GYO|T-"['SRt~"7f Consent of creditors is not required if capital reduction involves the writing off of paid up capital lost or not represented by available assets. Internal reconstruction result in the reduction of the capital of the company. Accounting procedure when internal reconstruction made 36) 7. Any loss on revaluation of the assets at the time of internal reconstruction, will be charged from. A Ltd. with a share capital of 10,000 equity shares of Rs. 8) Pre-acquisition profit is a) Capital Profit. 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 0000000756 00000 n
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Absorption. (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. 0000008674 00000 n
30 seconds. Cancellation of unissued capital is also a case of capital reduction. Bachelor of Business Administration (BBA). 10 each fully paid decides to repay Rs. Alteration of share capital can be affected by passing an ordinary resolution. 0000001160 00000 n
Redemption of preference shares is a case of capital reduction. Our website uses cookies to improve your experience. wound up. #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. HQJo.&
;&|&LZ$w$\bRp|)oG@4}=& C8Yn*]izM6fVjAVjEM'#Y+Lx4=_TZ%x9GbmiH2y2R 19. In a scheme of reorganization amount of shares surrendered by shareholders is transferred to: 12. 10 each. Here we are providing Notes , MCQs , Question Bank , Notes on Current Affairs & Many More. 1)66 2)paidup value 3)reduction 4)re-issue, cancellation 5)assets and liabilities 6)NCLT 7)Special 8)Capital Reduction 9)Capital Reduction 10)capital reduction or internal reconstruction, HSC Question Paper 2023 12th Commerce (Download Free pdf), HSC OCM Paper 2023 March Maharashtra Board | Download Free Pdf, HSC SP Paper 2023 March Maharashtra Board | Download Free Pdf, HSC Hindi Paper 2023 March Maharashtra Board | Download Free Pdf, HSC English Paper 2023 March | Download Free Pdf, 11th OCM Chapter 8 Exercise (Introduction to Management) Maharashtra Board Free Resource, 11th OCM Chapter 7 Exercise (Business Environment) Maharashtra Board Free Resource, MCQs on other topics of Financial Accounting, Financial Accounting Mcqs | More Than 700 Free MCQs, 12th SP Chapter 6 Solution (Correspondence with Members) Maharashtra Board Free Solution. Win vouchers worth INR 2,000 with our School Referral Program, Ranked Amongst Top 25 Companies by LinkedIn.
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