{"id":7515,"date":"2023-11-24T20:26:18","date_gmt":"2023-11-24T14:56:18","guid":{"rendered":"https:\/\/edunovations.com\/mcqs\/?p=7515"},"modified":"2023-11-25T06:23:05","modified_gmt":"2023-11-25T00:53:05","slug":"ncert-class-12-accountancy-mcq-6","status":"publish","type":"post","link":"https:\/\/edunovations.com\/mcqs\/ncert-class-12-accountancy-mcq-6\/","title":{"rendered":"NCERT Class 12 Accountancy\u00a0MCQ :\u00a0Accounting for Share Capital"},"content":{"rendered":"\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_81 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/edunovations.com\/mcqs\/ncert-class-12-accountancy-mcq-6\/#NCERT_Class_12_Accountancy_MCQ_Accounting_for_Share_Capital\" >NCERT Class 12 Accountancy&nbsp;MCQ :&nbsp;Accounting for Share Capital<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/edunovations.com\/mcqs\/ncert-class-12-accountancy-mcq-6\/#NCERT_Class_12_Accountancy_Accounting_for_Share_Capital_MCQ_%E2%80%93_NCERT_Class_12_MCQ\" >NCERT Class 12 Accountancy&nbsp;: Accounting for Share Capital MCQ &#8211; NCERT Class 12 MCQ<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/edunovations.com\/mcqs\/ncert-class-12-accountancy-mcq-6\/#Some_Important_Links\" >Some Important Links<\/a><\/li><\/ul><\/nav><\/div>\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"NCERT_Class_12_Accountancy_MCQ_Accounting_for_Share_Capital\"><\/span>NCERT Class 12 <strong>Accountancy&nbsp;<\/strong>MCQ :&nbsp;Accounting for Share Capital<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>Unlock the secrets of &#8220;Accounting for Share Capital&#8221; with our comprehensive MCQs page, meticulously curated from previous year papers of diverse exams, including UPSC IAS and more. Dive into a knowledge reservoir that spans various sectors, offering a valuable resource for aspirants seeking to master this crucial aspect of accounting.<\/p>\n\n\n\n<p>Our MCQs cover a spectrum of topics related to share capital, providing a nuanced understanding of its accounting principles. With questions sourced from reputable exams, users can confidently prepare for a variety of scenarios, ensuring a well-rounded grasp of share capital concepts. Whether you&#8217;re a UPSC IAS candidate or preparing for exams in different sectors, this page is your go-to destination for targeted practice.<\/p>\n\n\n\n<p>Explore a user-friendly interface that facilitates efficient learning, allowing you to focus on strengthening your knowledge base. Each question is a strategic puzzle piece designed to enhance your problem-solving skills and deepen your comprehension of accounting for share capital.<\/p>\n\n\n\n<p>Prepare with confidence, armed with insights from past papers, and elevate your exam readiness. Sharpen your skills and navigate the intricacies of share capital accounting with ease, all in one accessible platform.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"NCERT_Class_12_Accountancy_Accounting_for_Share_Capital_MCQ_%E2%80%93_NCERT_Class_12_MCQ\"><\/span>NCERT Class 12 <strong><strong><strong><strong><strong>Accountancy&nbsp;<\/strong><\/strong><\/strong><\/strong><\/strong>: Accounting for Share Capital MCQ<strong> &#8211; NCERT Class 12 MCQ<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n<style>\r\n    \/* Quiz container *\/\r\n    .quiz-container {\r\n        max-width: 800px;\r\n        margin: 0 auto;\r\n        padding: 20px;\r\n        box-sizing: border-box;\r\n        font-family: Arial, sans-serif;\r\n    }\r\n\r\n    \/* Question *\/\r\n    .question {\r\n        background-color: #f9f9f9;\r\n        padding: 20px;\r\n        border: 1px solid #ccc;\r\n        font-size: 20px;\r\n        margin-bottom: 20px;\r\n        border-radius: 5px;\r\n        box-shadow: 0 2px 4px rgba(0, 0, 0, 0.1);\r\n        position: relative;\r\n    }\r\n\r\n    \/* Question header *\/\r\n    .question h4 {\r\n        margin-bottom: 20px;\r\n    }\r\n\r\n    \/* Options list *\/\r\n    .options {\r\n        list-style-type: none;\r\n        padding: 0;\r\n    }\r\n\r\n    \/* Option item *\/\r\n    .options li {\r\n        margin: 10px;\r\n        padding: 10px;\r\n        display: flex;\r\n        align-items: center;\r\n        border-radius: 5px;\r\n        border: 2px solid #ccc;\r\n        box-shadow: 0 2px 4px rgba(0, 0, 0, 0.1);\r\n    }\r\n\r\n    \/* Option number *\/\r\n    .options li span {\r\n        margin-right: 10px;\r\n        width: 20px;\r\n        height: 20px;\r\n        border-radius: 50%;\r\n        border: 2px solid black;\r\n        display: flex;\r\n        justify-content: center;\r\n        align-items: center;\r\n        font-weight: bold;\r\n    }\r\n\r\n    \/* Option colors *\/\r\n    .options li span.option-a {\r\n        background-color: #FFD700; \/* Yellow *\/\r\n    }\r\n\r\n    .options li span.option-b {\r\n        background-color: #FF1493; \/* Pink *\/\r\n    }\r\n\r\n    .options li span.option-c {\r\n        background-color: #00BFFF; \/* Light Blue *\/\r\n    }\r\n\r\n    .options li span.option-d {\r\n        background-color: #7CFC00; \/* Green-Yellow *\/\r\n    }\r\n\r\n    .options li span.option-e {\r\n        background-color: #EE82EE; \/* Purple-Pink *\/\r\n    }\r\n\r\n    \/* Show answer button *\/\r\n    .show-answer {\r\n        background-color: #0066CC;\r\n        color: #fff;\r\n        border: none;\r\n        padding: 8px 20px;\r\n        font-size: 20px;\r\n        cursor: pointer;\r\n        border-radius: 3px;\r\n        text-align: center;\r\n        display: inline-block;\r\n        margin-bottom: 20px;\r\n    }\r\n\r\n    \/* Answer box *\/\r\n    .answer-box {\r\n        margin: 0 auto;\r\n        padding: 10px;\r\n        font-size: 20px;\r\n        color: #61970F;\r\n        box-sizing: border-box;\r\n        display: none;\r\n    }\r\n\r\n    \/* Question header *\/\r\n    .quiz-container .question-header {\r\n        color: darkblue;\r\n        font-weight: bold;\r\n        margin-right: 10px;\r\n    }\r\n\r\n    \/* Question header and text *\/\r\n    .quiz-container .question-header,\r\n    .quiz-container .question-text {\r\n        display: inline;\r\n        font-weight: bold;\r\n    }\r\n\r\n    \/* Responsive styles *\/\r\n    @media (max-width: 767px) {\r\n        .quiz-container {\r\n            padding: 10px;\r\n        }\r\n    }\r\n<\/style>\r\n<div class=\"quiz-container\">\r\n      <div class=\"question\">\r\n      <span class=\"question-header\">Question:<\/span>\r\n      <div class=\"question-text\">Reserve share capital means<\/div>\r\n      <ul class=\"options\">\r\n        <li><span class=\"option-a\">A<\/span><label for=\"optA_100053\">Part of authorised capital to be called at the beginning<\/label><\/li>\r\n        <li><span class=\"option-b\">B<\/span><label for=\"optB_100053\">Portion of uncalled capital to be called only at liquidation<\/label><\/li>\r\n        <li><span class=\"option-c\">C<\/span><label for=\"optC_100053\">Over subscribed capital<\/label><\/li>\r\n        <li><span class=\"option-d\">D<\/span><label for=\"optD_100053\">Under subscribed capital<\/label><\/li>\r\n              <\/ul>\r\n      <div class=\"answer-box\"><\/div>\r\n      <button class=\"show-answer\" data-answer=\"b\">Show Answer<\/button>\r\n    <\/div>\r\n      <div class=\"question\">\r\n      <span class=\"question-header\">Question:<\/span>\r\n      <div class=\"question-text\">When full amount is due on any call but it is not received, then the short fall is debited to <\/div>\r\n      <ul class=\"options\">\r\n        <li><span class=\"option-a\">A<\/span><label for=\"optA_100057\">Calls-in-advance<\/label><\/li>\r\n        <li><span class=\"option-b\">B<\/span><label for=\"optB_100057\">Calls-in-arrear<\/label><\/li>\r\n        <li><span class=\"option-c\">C<\/span><label for=\"optC_100057\">Share Capital<\/label><\/li>\r\n        <li><span class=\"option-d\">D<\/span><label for=\"optD_100057\">Suspense Account<\/label><\/li>\r\n              <\/ul>\r\n      <div class=\"answer-box\"><\/div>\r\n      <button class=\"show-answer\" data-answer=\"b\">Show Answer<\/button>\r\n    <\/div>\r\n      <div class=\"question\">\r\n      <span class=\"question-header\">Question:<\/span>\r\n      <div class=\"question-text\">The difference between subscribed capital and called up capital is called<\/div>\r\n      <ul class=\"options\">\r\n        <li><span class=\"option-a\">A<\/span><label for=\"optA_100059\">Calls-in-arear<\/label><\/li>\r\n        <li><span class=\"option-b\">B<\/span><label for=\"optB_100059\">Calls-in-advance<\/label><\/li>\r\n        <li><span class=\"option-c\">C<\/span><label for=\"optC_100059\">Uncalled capital<\/label><\/li>\r\n        <li><span class=\"option-d\">D<\/span><label for=\"optD_100059\">None of these<\/label><\/li>\r\n              <\/ul>\r\n      <div class=\"answer-box\"><\/div>\r\n      <button class=\"show-answer\" data-answer=\"c\">Show Answer<\/button>\r\n    <\/div>\r\n      <div class=\"question\">\r\n      <span class=\"question-header\">Question:<\/span>\r\n      <div class=\"question-text\">Which statement is issued before the issue of shares ?\r\n<\/div>\r\n      <ul class=\"options\">\r\n        <li><span class=\"option-a\">A<\/span><label for=\"optA_100062\">Prospectus<\/label><\/li>\r\n        <li><span class=\"option-b\">B<\/span><label for=\"optB_100062\">Articles of Association<\/label><\/li>\r\n        <li><span class=\"option-c\">C<\/span><label for=\"optC_100062\">Memorandum of Association<\/label><\/li>\r\n        <li><span class=\"option-d\">D<\/span><label for=\"optD_100062\">All of these<\/label><\/li>\r\n              <\/ul>\r\n      <div class=\"answer-box\"><\/div>\r\n      <button class=\"show-answer\" data-answer=\"d\">Show Answer<\/button>\r\n    <\/div>\r\n      <div class=\"question\">\r\n      <span class=\"question-header\">Question:<\/span>\r\n      <div class=\"question-text\">Company can utilise securities premium for :\r\n<\/div>\r\n      <ul class=\"options\">\r\n        <li><span class=\"option-a\">A<\/span><label for=\"optA_100065\">Writing off loss incurred on revaluation of asset<\/label><\/li>\r\n        <li><span class=\"option-b\">B<\/span><label for=\"optB_100065\">Issuing fully paid bonus shares<\/label><\/li>\r\n        <li><span class=\"option-c\">C<\/span><label for=\"optC_100065\">Paying divided<\/label><\/li>\r\n        <li><span class=\"option-d\">D<\/span><label for=\"optD_100065\">Writing off trading loss<\/label><\/li>\r\n              <\/ul>\r\n      <div class=\"answer-box\"><\/div>\r\n      <button class=\"show-answer\" data-answer=\"b\">Show Answer<\/button>\r\n    <\/div>\r\n      <div class=\"question\">\r\n      <span class=\"question-header\">Question:<\/span>\r\n      <div class=\"question-text\">When a company issues fully paid shares to promoters\r\nfor their services, the journal entry will be:\r\n<\/div>\r\n      <ul class=\"options\">\r\n        <li><span class=\"option-a\">A<\/span><label for=\"optA_100066\">Bank A\/c Dr. To Share Capital A\/c<\/label><\/li>\r\n        <li><span class=\"option-b\">B<\/span><label for=\"optB_100066\"> Good will A\/c Dr. To Share Capital A\/c<\/label><\/li>\r\n        <li><span class=\"option-c\">C<\/span><label for=\"optC_100066\">Promoters Personal A\/c Dr. To Share Capital A\/c<\/label><\/li>\r\n        <li><span class=\"option-d\">D<\/span><label for=\"optD_100066\">Promotion Expenses A\/c Dr. To Share Capital A\/c<\/label><\/li>\r\n              <\/ul>\r\n      <div class=\"answer-box\"><\/div>\r\n      <button class=\"show-answer\" data-answer=\"b\">Show Answer<\/button>\r\n    <\/div>\r\n      <div class=\"question\">\r\n      <span class=\"question-header\">Question:<\/span>\r\n      <div class=\"question-text\">When a company issues shares at a premium, amount of premium may be received by the company :<\/div>\r\n      <ul class=\"options\">\r\n        <li><span class=\"option-a\">A<\/span><label for=\"optA_100069\">Along with application money<\/label><\/li>\r\n        <li><span class=\"option-b\">B<\/span><label for=\"optB_100069\">Along with application money<\/label><\/li>\r\n        <li><span class=\"option-c\">C<\/span><label for=\"optC_100069\">Along with calls<\/label><\/li>\r\n        <li><span class=\"option-d\">D<\/span><label for=\"optD_100069\">Along with calls<\/label><\/li>\r\n              <\/ul>\r\n      <div class=\"answer-box\"><\/div>\r\n      <button class=\"show-answer\" data-answer=\"d\">Show Answer<\/button>\r\n    <\/div>\r\n      <div class=\"question\">\r\n      <span class=\"question-header\">Question:<\/span>\r\n      <div class=\"question-text\">Share Application Account is :\r\n<\/div>\r\n      <ul class=\"options\">\r\n        <li><span class=\"option-a\">A<\/span><label for=\"optA_100081\">Personal Account<\/label><\/li>\r\n        <li><span class=\"option-b\">B<\/span><label for=\"optB_100081\">Real Account<\/label><\/li>\r\n        <li><span class=\"option-c\">C<\/span><label for=\"optC_100081\">Nominal\/ Account<\/label><\/li>\r\n        <li><span class=\"option-d\">D<\/span><label for=\"optD_100081\">None of these<\/label><\/li>\r\n              <\/ul>\r\n      <div class=\"answer-box\"><\/div>\r\n      <button class=\"show-answer\" data-answer=\"a\">Show Answer<\/button>\r\n    <\/div>\r\n      <div class=\"question\">\r\n      <span class=\"question-header\">Question:<\/span>\r\n      <div class=\"question-text\">Secrities Premium can not be applied :\r\n<\/div>\r\n      <ul class=\"options\">\r\n        <li><span class=\"option-a\">A<\/span><label for=\"optA_100084\">For paying dividend to members<\/label><\/li>\r\n        <li><span class=\"option-b\">B<\/span><label for=\"optB_100084\">For issuing bonus shares to members<\/label><\/li>\r\n        <li><span class=\"option-c\">C<\/span><label for=\"optC_100084\">For writing off preliminary expenses of company<\/label><\/li>\r\n        <li><span class=\"option-d\">D<\/span><label for=\"optD_100084\">For writing off discount on issue of debentures<\/label><\/li>\r\n              <\/ul>\r\n      <div class=\"answer-box\"><\/div>\r\n      <button class=\"show-answer\" data-answer=\"a\">Show Answer<\/button>\r\n    <\/div>\r\n      <div class=\"question\">\r\n      <span class=\"question-header\">Question:<\/span>\r\n      <div class=\"question-text\">A joint stock company is :<\/div>\r\n      <ul class=\"options\">\r\n        <li><span class=\"option-a\">A<\/span><label for=\"optA_100087\">An artificial legal person<\/label><\/li>\r\n        <li><span class=\"option-b\">B<\/span><label for=\"optB_100087\">Natural person<\/label><\/li>\r\n        <li><span class=\"option-c\">C<\/span><label for=\"optC_100087\">A general person<\/label><\/li>\r\n        <li><span class=\"option-d\">D<\/span><label for=\"optD_100087\">None of these<\/label><\/li>\r\n              <\/ul>\r\n      <div class=\"answer-box\"><\/div>\r\n      <button class=\"show-answer\" data-answer=\"a\">Show Answer<\/button>\r\n    <\/div>\r\n      <div class=\"question\">\r\n      <span class=\"question-header\">Question:<\/span>\r\n      <div class=\"question-text\">Equity shareholders are<\/div>\r\n      <ul class=\"options\">\r\n        <li><span class=\"option-a\">A<\/span><label for=\"optA_100089\">Customers<\/label><\/li>\r\n        <li><span class=\"option-b\">B<\/span><label for=\"optB_100089\">Creditors<\/label><\/li>\r\n        <li><span class=\"option-c\">C<\/span><label for=\"optC_100089\">Debtors<\/label><\/li>\r\n        <li><span class=\"option-d\">D<\/span><label for=\"optD_100089\">Owners<\/label><\/li>\r\n              <\/ul>\r\n      <div class=\"answer-box\"><\/div>\r\n      <button class=\"show-answer\" data-answer=\"d\">Show Answer<\/button>\r\n    <\/div>\r\n      <div class=\"question\">\r\n      <span class=\"question-header\">Question:<\/span>\r\n      <div class=\"question-text\">Reserve capital means :<\/div>\r\n      <ul class=\"options\">\r\n        <li><span class=\"option-a\">A<\/span><label for=\"optA_100092\">A part of subscribed uncalled capital<\/label><\/li>\r\n        <li><span class=\"option-b\">B<\/span><label for=\"optB_100092\">Reserve Profit<\/label><\/li>\r\n        <li><span class=\"option-c\">C<\/span><label for=\"optC_100092\">A part of Capital Reserve<\/label><\/li>\r\n        <li><span class=\"option-d\">D<\/span><label for=\"optD_100092\">A part of Capital Redemption Reserve<\/label><\/li>\r\n              <\/ul>\r\n      <div class=\"answer-box\"><\/div>\r\n      <button class=\"show-answer\" data-answer=\"a\">Show Answer<\/button>\r\n    <\/div>\r\n      <div class=\"question\">\r\n      <span class=\"question-header\">Question:<\/span>\r\n      <div class=\"question-text\">Securities Premium is shown under which head in the Balance Sheet ?\r\n<\/div>\r\n      <ul class=\"options\">\r\n        <li><span class=\"option-a\">A<\/span><label for=\"optA_100095\">Reserve and Surplus<\/label><\/li>\r\n        <li><span class=\"option-b\">B<\/span><label for=\"optB_100095\">Miscellaneous Expenditure<\/label><\/li>\r\n        <li><span class=\"option-c\">C<\/span><label for=\"optC_100095\">Current Liabilities<\/label><\/li>\r\n        <li><span class=\"option-d\">D<\/span><label for=\"optD_100095\">Share Capital<\/label><\/li>\r\n              <\/ul>\r\n      <div class=\"answer-box\"><\/div>\r\n      <button class=\"show-answer\" data-answer=\"a\">Show Answer<\/button>\r\n    <\/div>\r\n      <div class=\"question\">\r\n      <span class=\"question-header\">Question:<\/span>\r\n      <div class=\"question-text\">Shares may be issued :\r\n<\/div>\r\n      <ul class=\"options\">\r\n        <li><span class=\"option-a\">A<\/span><label for=\"optA_100097\">At par value<\/label><\/li>\r\n        <li><span class=\"option-b\">B<\/span><label for=\"optB_100097\">At FYemimum<\/label><\/li>\r\n        <li><span class=\"option-c\">C<\/span><label for=\"optC_100097\">At Discount<\/label><\/li>\r\n        <li><span class=\"option-d\">D<\/span><label for=\"optD_100097\">Both (a) &amp; (b)<\/label><\/li>\r\n              <\/ul>\r\n      <div class=\"answer-box\"><\/div>\r\n      <button class=\"show-answer\" data-answer=\"d\">Show Answer<\/button>\r\n    <\/div>\r\n      <div class=\"question\">\r\n      <span class=\"question-header\">Question:<\/span>\r\n      <div class=\"question-text\">Capital included in the liabilities of a company is called :<\/div>\r\n      <ul class=\"options\">\r\n        <li><span class=\"option-a\">A<\/span><label for=\"optA_100099\">Authorised Capital<\/label><\/li>\r\n        <li><span class=\"option-b\">B<\/span><label for=\"optB_100099\">Issued Capital<\/label><\/li>\r\n        <li><span class=\"option-c\">C<\/span><label for=\"optC_100099\">Subscribed Capital<\/label><\/li>\r\n        <li><span class=\"option-d\">D<\/span><label for=\"optD_100099\">Paid-up Capital<\/label><\/li>\r\n              <\/ul>\r\n      <div class=\"answer-box\"><\/div>\r\n      <button class=\"show-answer\" data-answer=\"d\">Show Answer<\/button>\r\n    <\/div>\r\n      <div class=\"question\">\r\n      <span class=\"question-header\">Question:<\/span>\r\n      <div class=\"question-text\">An issue of shares which is not a public issue but offered to a selected group of persons is called :\r\n<\/div>\r\n      <ul class=\"options\">\r\n        <li><span class=\"option-a\">A<\/span><label for=\"optA_100101\">Public offer<\/label><\/li>\r\n        <li><span class=\"option-b\">B<\/span><label for=\"optB_100101\">Private placement of shares<\/label><\/li>\r\n        <li><span class=\"option-c\">C<\/span><label for=\"optC_100101\">Initial public offer<\/label><\/li>\r\n        <li><span class=\"option-d\">D<\/span><label for=\"optD_100101\">None of these<\/label><\/li>\r\n              <\/ul>\r\n      <div class=\"answer-box\"><\/div>\r\n      <button class=\"show-answer\" data-answer=\"d\">Show Answer<\/button>\r\n    <\/div>\r\n      <div class=\"question\">\r\n      <span class=\"question-header\">Question:<\/span>\r\n      <div class=\"question-text\">If a share of \u20b9 10 on which \u20b9 8 has been called and \u20b9 6 is paid is forfeited, the Share Capital Account should be debited with :\r\n<\/div>\r\n      <ul class=\"options\">\r\n        <li><span class=\"option-a\">A<\/span><label for=\"optA_100102\">\u20b9 8<\/label><\/li>\r\n        <li><span class=\"option-b\">B<\/span><label for=\"optB_100102\">\u20b9 10<\/label><\/li>\r\n        <li><span class=\"option-c\">C<\/span><label for=\"optC_100102\">\u20b9 6<\/label><\/li>\r\n        <li><span class=\"option-d\">D<\/span><label for=\"optD_100102\">\u20b9 2<\/label><\/li>\r\n              <\/ul>\r\n      <div class=\"answer-box\"><\/div>\r\n      <button class=\"show-answer\" data-answer=\"a\">Show Answer<\/button>\r\n    <\/div>\r\n      <div class=\"question\">\r\n      <span class=\"question-header\">Question:<\/span>\r\n      <div class=\"question-text\">When shares are forfeited, the Share Capital Account is debited with:\r\n<\/div>\r\n      <ul class=\"options\">\r\n        <li><span class=\"option-a\">A<\/span><label for=\"optA_100103\">Nominal value of Shares<\/label><\/li>\r\n        <li><span class=\"option-b\">B<\/span><label for=\"optB_100103\">Market value of Shares<\/label><\/li>\r\n        <li><span class=\"option-c\">C<\/span><label for=\"optC_100103\">Called-up value of Shares<\/label><\/li>\r\n        <li><span class=\"option-d\">D<\/span><label for=\"optD_100103\">Paid-up value of Shares<\/label><\/li>\r\n              <\/ul>\r\n      <div class=\"answer-box\"><\/div>\r\n      <button class=\"show-answer\" data-answer=\"c\">Show Answer<\/button>\r\n    <\/div>\r\n      <div class=\"question\">\r\n      <span class=\"question-header\">Question:<\/span>\r\n      <div class=\"question-text\">If the loss on reissue of shares is less than the amount forfeited, the \u2018surplus\u2019 or profit is transferred to :\r\n<\/div>\r\n      <ul class=\"options\">\r\n        <li><span class=\"option-a\">A<\/span><label for=\"optA_100105\">Capital Reserve<\/label><\/li>\r\n        <li><span class=\"option-b\">B<\/span><label for=\"optB_100105\">Revenue Reserve<\/label><\/li>\r\n        <li><span class=\"option-c\">C<\/span><label for=\"optC_100105\">Profit &amp; Loss A\/<\/label><\/li>\r\n        <li><span class=\"option-d\">D<\/span><label for=\"optD_100105\">None of these<\/label><\/li>\r\n              <\/ul>\r\n      <div class=\"answer-box\"><\/div>\r\n      <button class=\"show-answer\" data-answer=\"a\">Show Answer<\/button>\r\n    <\/div>\r\n      <div class=\"question\">\r\n      <span class=\"question-header\">Question:<\/span>\r\n      <div class=\"question-text\">J. Ltd. re-issue 2,000 shares which where forfeited by crediting share forfeiture account by \u20b9 3,000. These shares were re-issued at \u20b9 9 per share. The amount transferred to capital reserve will be :<\/div>\r\n      <ul class=\"options\">\r\n        <li><span class=\"option-a\">A<\/span><label for=\"optA_100106\">\u20b9 3,000<\/label><\/li>\r\n        <li><span class=\"option-b\">B<\/span><label for=\"optB_100106\">\u20b9 2,000<\/label><\/li>\r\n        <li><span class=\"option-c\">C<\/span><label for=\"optC_100106\"> \u20b9 1000<\/label><\/li>\r\n        <li><span class=\"option-d\">D<\/span><label for=\"optD_100106\">Nil<\/label><\/li>\r\n              <\/ul>\r\n      <div class=\"answer-box\"><\/div>\r\n      <button class=\"show-answer\" data-answer=\"c\">Show Answer<\/button>\r\n    <\/div>\r\n  <\/div>\r\n<script src=\"https:\/\/code.jquery.com\/jquery-3.6.0.min.js\"><\/script>\r\n<script>\r\n$(document).ready(function() {\r\n  $('.show-answer').click(function() {\r\n    var answer = $(this).data('answer');\r\n    $(this).siblings('.answer-box').html('The correct answer is: ' + answer).slideDown();\r\n    $(this).hide();\r\n  });\r\n});\r\n<\/script>\n\n\n\n<p><\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Some_Important_Links\"><\/span>Some Important Links <span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<div class=\"wp-block-buttons is-layout-flex wp-block-buttons-is-layout-flex\">\n<div class=\"wp-block-button is-style-outline is-style-outline--1\"><a class=\"wp-block-button__link wp-element-button\" href=\"https:\/\/edunovations.com\/mcqs\/category\/ncert\/class-1\/\" target=\"_blank\" rel=\"noreferrer noopener\">NCERT CLASS 1 MCQ<\/a><\/div>\n\n\n\n<div class=\"wp-block-button is-style-outline is-style-outline--2\"><a class=\"wp-block-button__link wp-element-button\" href=\"https:\/\/edunovations.com\/mcqs\/category\/ncert\/class-2\/\" target=\"_blank\" rel=\"noreferrer noopener\">NCERT CLASS 2 MCQ<\/a><\/div>\n\n\n\n<div class=\"wp-block-button is-style-outline is-style-outline--3\"><a class=\"wp-block-button__link wp-element-button\" href=\"https:\/\/edunovations.com\/mcqs\/category\/ncert\/class-3\/\" target=\"_blank\" rel=\"noreferrer noopener\">NCERT CLASS 3 MCQ<\/a><\/div>\n\n\n\n<div class=\"wp-block-button is-style-outline is-style-outline--4\"><a class=\"wp-block-button__link wp-element-button\" href=\"https:\/\/edunovations.com\/mcqs\/category\/ncert\/class-4\/\">NCERT CLASS 4 MCQ<\/a><\/div>\n<\/div>\n\n\n\n<div class=\"wp-block-buttons is-layout-flex wp-block-buttons-is-layout-flex\">\n<div class=\"wp-block-button is-style-outline is-style-outline--5\"><a class=\"wp-block-button__link wp-element-button\" href=\"https:\/\/edunovations.com\/mcqs\/category\/ncert\/class-5\/\" target=\"_blank\" rel=\"noreferrer noopener\">NCERT CLASS 5 MCQ<\/a><\/div>\n\n\n\n<div class=\"wp-block-button is-style-outline is-style-outline--6\"><a class=\"wp-block-button__link wp-element-button\" href=\"https:\/\/edunovations.com\/mcqs\/category\/ncert\/class-6\/\" target=\"_blank\" rel=\"noreferrer noopener\">NCERT CLASS 6 MCQ<\/a><\/div>\n\n\n\n<div class=\"wp-block-button is-style-outline is-style-outline--7\"><a class=\"wp-block-button__link wp-element-button\" href=\"https:\/\/edunovations.com\/mcqs\/category\/ncert\/class-7\/\" target=\"_blank\" rel=\"noreferrer noopener\">NCERT CLASS 7 MCQ<\/a><\/div>\n\n\n\n<div class=\"wp-block-button is-style-outline is-style-outline--8\"><a class=\"wp-block-button__link wp-element-button\" href=\"https:\/\/edunovations.com\/mcqs\/category\/ncert\/class-8\/\">NCERT CLASS 8 MCQ<\/a><\/div>\n<\/div>\n\n\n\n<div class=\"wp-block-buttons is-layout-flex wp-block-buttons-is-layout-flex\">\n<div class=\"wp-block-button is-style-outline is-style-outline--9\"><a class=\"wp-block-button__link wp-element-button\" href=\"https:\/\/edunovations.com\/mcqs\/category\/ncert\/class-9\/\" target=\"_blank\" rel=\"noreferrer noopener\">NCERT CLASS 9 MCQ<span style=\"color: rgb(115, 135, 156); font-family: &quot;Helvetica Neue&quot;, Roboto, Arial, &quot;Droid Sans&quot;, sans-serif; font-size: 13px; text-align: start; white-space: normal;\">Accountancy&nbsp;<\/span><\/a><\/div>\n\n\n\n<div class=\"wp-block-button is-style-outline is-style-outline--10\"><a class=\"wp-block-button__link wp-element-button\" href=\"https:\/\/edunovations.com\/mcqs\/category\/ncert\/class-10\/\" target=\"_blank\" rel=\"noreferrer noopener\">NCERT CLASS 10 MCQ<\/a><\/div>\n\n\n\n<div class=\"wp-block-button is-style-outline is-style-outline--11\"><a class=\"wp-block-button__link wp-element-button\" href=\"https:\/\/edunovations.com\/mcqs\/category\/ncert\/class-11\/\" target=\"_blank\" rel=\"noreferrer noopener\">NCERT CLASS 11 MCQ<\/a><\/div>\n\n\n\n<div class=\"wp-block-button is-style-outline is-style-outline--12\"><a class=\"wp-block-button__link wp-element-button\" href=\"https:\/\/edunovations.com\/mcqs\/category\/ncert\/class-12\/\">NCERT CLASS 12 MCQ<\/a><\/div>\n<\/div>\n\n\n\n<div class=\"wp-block-buttons is-layout-flex wp-block-buttons-is-layout-flex\">\n<div class=\"wp-block-button\"><a class=\"wp-block-button__link wp-element-button\" href=\"https:\/\/edunovations.com\/mcqs\/category\/ncert\/\" target=\"_blank\" rel=\"noreferrer noopener\">NCERT MCQs<\/a><\/div>\n\n\n\n<div class=\"wp-block-button\"><a class=\"wp-block-button__link wp-element-button\" href=\"https:\/\/edunovations.com\/mcqs\/category\/subject-wise\/indian-history\/\" target=\"_blank\" rel=\"noreferrer noopener\">Indian History MCQs<\/a><\/div>\n\n\n\n<div class=\"wp-block-button\"><a class=\"wp-block-button__link wp-element-button\" href=\"https:\/\/edunovations.com\/mcqs\/category\/subject-wise\/indian-polity\/\" target=\"_blank\" rel=\"noreferrer noopener\"><strong>Indian Polity MCQ<\/strong>s<\/a><\/div>\n<\/div>\n\n\n\n<figure class=\"wp-block-image size-full\" id=\"Free-GK-MCQ-App\"><a href=\"https:\/\/play.google.com\/store\/apps\/details?id=com.edunovations.quiz\" target=\"_blank\" rel=\"Free GK MCQ App noreferrer noopener\"><img fetchpriority=\"high\" decoding=\"async\" width=\"900\" height=\"150\" src=\"https:\/\/edunovations.com\/mcqs\/wp-content\/uploads\/2023\/06\/Free-MCQ-App.jpg\" alt=\"Free GK MCQ App\" class=\"wp-image-743\" title=\"Free GK MCQ App\" srcset=\"https:\/\/edunovations.com\/mcqs\/wp-content\/uploads\/2023\/06\/Free-MCQ-App.jpg 900w, https:\/\/edunovations.com\/mcqs\/wp-content\/uploads\/2023\/06\/Free-MCQ-App-300x50.jpg 300w, https:\/\/edunovations.com\/mcqs\/wp-content\/uploads\/2023\/06\/Free-MCQ-App-768x128.jpg 768w\" sizes=\"(max-width: 900px) 100vw, 900px\" \/><\/a><figcaption class=\"wp-element-caption\">Free GK MCQ App<\/figcaption><\/figure>\n\n\n\n<figure class=\"wp-block-image size-full\" id=\"Free-Daily-Current-Affairs-MCQ-App\"><a href=\"https:\/\/play.google.com\/store\/apps\/details?id=com.edunovations.quiz\" target=\"_blank\" rel=\"Free Daily Current Affairs MCQ App noopener\"><img decoding=\"async\" width=\"900\" height=\"150\" src=\"https:\/\/edunovations.com\/mcqs\/wp-content\/uploads\/2023\/06\/Banner-current-affairs-2.jpg\" alt=\"Free Daily Current Affairs MCQ App\" class=\"wp-image-744\" title=\"Free Daily Current Affairs MCQ App\" srcset=\"https:\/\/edunovations.com\/mcqs\/wp-content\/uploads\/2023\/06\/Banner-current-affairs-2.jpg 900w, https:\/\/edunovations.com\/mcqs\/wp-content\/uploads\/2023\/06\/Banner-current-affairs-2-300x50.jpg 300w, https:\/\/edunovations.com\/mcqs\/wp-content\/uploads\/2023\/06\/Banner-current-affairs-2-768x128.jpg 768w\" sizes=\"(max-width: 900px) 100vw, 900px\" \/><\/a><figcaption class=\"wp-element-caption\">Free Daily Current Affairs MCQ App<\/figcaption><\/figure>\n\n\n\n<script async=\"\" src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-6643489308705072\" crossorigin=\"anonymous\"><\/script>\r\n<ins class=\"adsbygoogle\" style=\"display:block\" data-ad-format=\"autorelaxed\" data-ad-client=\"ca-pub-6643489308705072\" data-ad-slot=\"2759669284\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script>\n","protected":false},"excerpt":{"rendered":"<p>NCERT Class 12 Accountancy&nbsp;MCQ :&nbsp;Accounting for Share Capital Unlock the secrets of &#8220;Accounting for Share Capital&#8221; with our comprehensive MCQs page, meticulously curated from previous year papers of diverse exams, including UPSC IAS and more. Dive into a knowledge reservoir that spans various sectors, offering a valuable resource for aspirants seeking to master this crucial [&hellip;]<\/p>\n","protected":false},"author":3,"featured_media":7536,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"ocean_post_layout":"","ocean_both_sidebars_style":"","ocean_both_sidebars_content_width":0,"ocean_both_sidebars_sidebars_width":0,"ocean_sidebar":"","ocean_second_sidebar":"","ocean_disable_margins":"enable","ocean_add_body_class":"","ocean_shortcode_before_top_bar":"","ocean_shortcode_after_top_bar":"","ocean_shortcode_before_header":"","ocean_shortcode_after_header":"","ocean_has_shortcode":"","ocean_shortcode_after_title":"","ocean_shortcode_before_footer_widgets":"","ocean_shortcode_after_footer_widgets":"","ocean_shortcode_before_footer_bottom":"","ocean_shortcode_after_footer_bottom":"","ocean_display_top_bar":"default","ocean_display_header":"default","ocean_header_style":"","ocean_center_header_left_menu":"","ocean_custom_header_template":"","ocean_custom_logo":0,"ocean_custom_retina_logo":0,"ocean_custom_logo_max_width":0,"ocean_custom_logo_tablet_max_width":0,"ocean_custom_logo_mobile_max_width":0,"ocean_custom_logo_max_height":0,"ocean_custom_logo_tablet_max_height":0,"ocean_custom_logo_mobile_max_height":0,"ocean_header_custom_menu":"","ocean_menu_typo_font_family":"","ocean_menu_typo_font_subset":"","ocean_menu_typo_font_size":0,"ocean_menu_typo_font_size_tablet":0,"ocean_menu_typo_font_size_mobile":0,"ocean_menu_typo_font_size_unit":"px","ocean_menu_typo_font_weight":"","ocean_menu_typo_font_weight_tablet":"","ocean_menu_typo_font_weight_mobile":"","ocean_menu_typo_transform":"","ocean_menu_typo_transform_tablet":"","ocean_menu_typo_transform_mobile":"","ocean_menu_typo_line_height":0,"ocean_menu_typo_line_height_tablet":0,"ocean_menu_typo_line_height_mobile":0,"ocean_menu_typo_line_height_unit":"","ocean_menu_typo_spacing":0,"ocean_menu_typo_spacing_tablet":0,"ocean_menu_typo_spacing_mobile":0,"ocean_menu_typo_spacing_unit":"","ocean_menu_link_color":"","ocean_menu_link_color_hover":"","ocean_menu_link_color_active":"","ocean_menu_link_background":"","ocean_menu_link_hover_background":"","ocean_menu_link_active_background":"","ocean_menu_social_links_bg":"","ocean_menu_social_hover_links_bg":"","ocean_menu_social_links_color":"","ocean_menu_social_hover_links_color":"","ocean_disable_title":"default","ocean_disable_heading":"default","ocean_post_title":"","ocean_post_subheading":"","ocean_post_title_style":"","ocean_post_title_background_color":"","ocean_post_title_background":0,"ocean_post_title_bg_image_position":"","ocean_post_title_bg_image_attachment":"","ocean_post_title_bg_image_repeat":"","ocean_post_title_bg_image_size":"","ocean_post_title_height":0,"ocean_post_title_bg_overlay":0.5,"ocean_post_title_bg_overlay_color":"","ocean_disable_breadcrumbs":"default","ocean_breadcrumbs_color":"","ocean_breadcrumbs_separator_color":"","ocean_breadcrumbs_links_color":"","ocean_breadcrumbs_links_hover_color":"","ocean_display_footer_widgets":"default","ocean_display_footer_bottom":"default","ocean_custom_footer_template":"","ocean_post_oembed":"","ocean_post_self_hosted_media":"","ocean_post_video_embed":"","ocean_link_format":"","ocean_link_format_target":"self","ocean_quote_format":"","ocean_quote_format_link":"post","ocean_gallery_link_images":"off","ocean_gallery_id":[],"footnotes":""},"categories":[71],"tags":[5157,121,5608,91,589,5607,590],"class_list":["post-7515","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-class-12","tag-accounting","tag-exam-preparation","tag-financial-accounting","tag-mcqs","tag-previous-year-papers","tag-share-capital","tag-upsc-ias","entry","has-media"],"_links":{"self":[{"href":"https:\/\/edunovations.com\/mcqs\/wp-json\/wp\/v2\/posts\/7515","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/edunovations.com\/mcqs\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/edunovations.com\/mcqs\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/edunovations.com\/mcqs\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/edunovations.com\/mcqs\/wp-json\/wp\/v2\/comments?post=7515"}],"version-history":[{"count":2,"href":"https:\/\/edunovations.com\/mcqs\/wp-json\/wp\/v2\/posts\/7515\/revisions"}],"predecessor-version":[{"id":7538,"href":"https:\/\/edunovations.com\/mcqs\/wp-json\/wp\/v2\/posts\/7515\/revisions\/7538"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/edunovations.com\/mcqs\/wp-json\/wp\/v2\/media\/7536"}],"wp:attachment":[{"href":"https:\/\/edunovations.com\/mcqs\/wp-json\/wp\/v2\/media?parent=7515"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/edunovations.com\/mcqs\/wp-json\/wp\/v2\/categories?post=7515"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/edunovations.com\/mcqs\/wp-json\/wp\/v2\/tags?post=7515"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}