The full balance of capital is to be debited, if _____________ value is reduced. 19. A company is free to reduce or extinguish the uncalled liability of its members. Any loss on revaluation of the assets at the time of internal reconstruction, will be charged from. wound up. 0 1. a) X Ltd. Having a share capital of Rs. In internal reconstruction, increase in the value of fixed assets is credited to. 1. It is a case of: (i) Reducing share capital by returning the excess capital, (ii) Reducing the liability on account of uncalled capital. The objective of reconstruction is to write off ___________ .a) profit b) accumulated losses c) nil d) none of the above, 18. b) X Ltd. Having a share capital of Rs. 3. #2 MCQ for TYBCOM Sem 5 - Internal Reconstruction MCQ's - YouTube PDF Amalgamation, Absorption & External reconstruction - NKT Degree College 500000 divided into 50000 shares of Rs. Eliminate the accumulated losses from the books. (a) Profit (b) Loss (a)No Profit-No Loss (a) nil 5. throughout their Academic career. --------- is the account created in connection with internal reconstruction. The cancellation of contingent liability is____ for company. 0 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 10 each, consolidated the shares into 5000 shares of Rs. Accounting procedure when internal reconstruction made 36) 7. Redemption of preference shares is a case of capital reduction. It decides to convert its capital into 20,000 equity shares of Rs. 5 per share thus making each share of Rs. endstream endobj 72 0 obj <>stream hbbd```b``"A$v J%7uI 8vjYZOM}r,2s.Z 'Xj:8A3v8^X.x=a4$ 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 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. 30 seconds. Company Liquidation Accounts. 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 5 each. hVN;?*:_ 11. startxref a) authorized capital b) Called up capital c) Uncalled capital Accounting for Internal Reconstruction. endstream endobj 60 0 obj <> endobj 61 0 obj <> endobj 62 0 obj <>/ProcSet[/PDF/Text]/ExtGState<>>> endobj 63 0 obj <> endobj 64 0 obj <> endobj 65 0 obj <> endobj 66 0 obj <> endobj 67 0 obj <> endobj 68 0 obj <> endobj 69 0 obj <> endobj 70 0 obj <>stream Question and answers in Accounting for Internal Reconstruction. The expenses for forming and implementing scheme should be debited to ____________ .a) security premium b) share capital c) Internal reconstruction d) capital reduction, 15. endstream endobj startxref MCQ on Amalgamation and External Reconstruction - CMA TUTORS /PN|]fR9RW*YGfS{5B:>$VYq&Lop WGV1="]GVR:8M In case of sub-division of share capital the total number of shares: 2. In which of the following cases, procedure of reduction of capital is not called for: (iii) Surrender of shares or gift of shares. Multiple Choice Questions 1)Voluntary winding up: a)If period fixed for the company is expired. Share Capital A/c (100) Dr. 500000, Share Capital A/c (10) Cr. 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. 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