Consent of creditors is required if capital reduction involves diminution of liability regarding uncalled capital or return of paid up capital. c) Capital Reduction. b) Absorption. 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. 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. In internal reconstruction neither the existing company is liquidated, nor is a new company incorporated. In internal reconstruction, the existing company will be /PN|]fR9RW*YGfS{5B:>$VYq&Lop WGV1="]GVR:8M Bachelor of Business Administration (BBA). Internal Reconstruction MCQ MCQs on other topics of Financial Accounting Cost Accounting MCQs pdf 1. The Sub division of shares does not result in ___________ of capital.a) reduction b) added c) Compromise d) none of the above, 4. Latest Reconstruction of companies MCQ Objective Questions Top Reconstruction of companies MCQ Objective Questions Exam Preparation Simplified Learn, practice, analyse and improve Get Started for Free Download App Trusted by 3.9 Crore+ Students Related MCQ Merger& Amalgamation MCQ Exams TNPSC Group 1 TNPSC Group 2 RRB Group D RRB NTPC Semantic reconstruction of continuous language from non-invasive brain We provide you study material i.e. The term "Internal Reconstruction" means: (i) Reduction of Share Capital (ii) Variation of Shareholder's right (iii) Alternation of share capital (iv) All of the above 7. Multiple Choice Questions 1)Voluntary winding up: a)If period fixed for the company is expired. 5 per share thus making each share of Rs. Copyright 2023 McqMate. Irk#nf`S_Jlhf6+xx?$UZ$yZ}opP~ fCJ[1[nS+\M]_pOgut9qiWb|Tr@r`Xj 8p2_7y#@DZpNS80dJ^3S2RzP3;! [Solved] Capital Reduction Account is a - mcqmate.com Merger Buyout Joint Venture De-merger 23Which merger involves firms engaged in unrelated types of activities? Accounting for Amalgamation, Absorption and External. Accounting for Internal Reconstruction [Set 1] PDF, Accounting for Amalgamation, Absorption and External, Chapter: Accounting for Internal Reconstruction. endstream endobj 71 0 obj <>stream MULTIPLE CHOICE QUESTIONS 1. Ans: a) Capital Profit. 4~"\ Download CA Inter Notes Pdf May 2022 - CA Test Series AMALGAMATION, ABSORPTION & EXTERNAL RECONSTRUCTION - Quiz Follow me on YouTube - Dynamic Tutorials and Services. In which of the following cases, procedure of reduction of capital is not called for: 11. Under which of the following circumstances can a company resort to internal Internal reconstruction is done due to .. Reconstruction of Companies MCQ - SlideShare 0 A brain-computer interface that decodes continuous language from non-invasive recordings would have many scientific and practical applications. #2 MCQ for TYBCOM Sem 5 - Internal Reconstruction MCQ's - YouTube Q. startxref a) 77 b) 100 c) 66 d) 75 2. Manan Prakashan 1 CHAPTER - 1 : AMALGAMATION, ABSORBTION AND EXTERNAL RECONSTRUCTION (AS - 14) MULTIPLE CHOICE QUESTIONS. Cancellation of unissued capital is also a case of capital reduction. A company has issued capital of 10,000 equity shares of Rs. It is a case of, Answer :- Reducing share capital by returning the excess capital, 5. wound up. Question 2. 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 . To carry out capital reduction, permission is required from: 14. Win vouchers worth INR 2,000 with our School Referral Program, Ranked Amongst Top 25 Companies by LinkedIn. Under Sec. The fictitious debit balances are to be transferred to ___________ Account.a) internal reconstruction b) security premium c) share capital d) Capital Reduction, 9. McqMate.com is an educational platform, Which is developed BY STUDENTS, FOR STUDENTS, The only 0000001534 00000 n Answer :- Increases 2. 10 each, consolidated the shares into 5000 shares of Rs. #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 Eliminate the accumulated losses from the books. . 100 each, converts it into stock. JD%@"i0iB*c`EX Internal Reconstruction - Advanced Accounting - MCQ Test - Teachmint c) X Ltd. Having a share capital of Rs. In which of the following cases, procedure of reduction of capital is not called for: (iii) Surrender of shares or gift of shares. A company must pass a special resolution for reduction of capital. Company Liquidation Accounts. 0000040014 00000 n 1. 10. A company is free to reduce or extinguish the uncalled liability of its members. External reconstruction. capital reduction A/C is transferred to : After the implementation of scheme of internal reconstruction, any amount left in the 11. endstream endobj 23 0 obj <> endobj 24 0 obj <> endobj 25 0 obj <>stream 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. In case of sub-division of share capital the total number of shares: 2. Under which of the following circumstances can a company resort to internal reconstruction? answer choices. 0000001160 00000 n U,]]. Internal Reconstruction | Specialty Quiz - Quizizz 100 each. 18. 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 In case of , one existing company takes over the business of another company and no new company is formed 25. 0000002299 00000 n 10 each fully paid decides to repay Rs. xref Ans: b) Revenue Profit. 5 each. (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. MCQ on Internal Reconstruction : Multiple choice questions and answers |:a=Z&v)kgAN"6]tBzy!NS Let's take a quick look at the CA Inter Course before diving into the specifics of the ICAI CA Inter Mcq Notes 2022. endstream endobj 72 0 obj <>stream Redemption of preference shares in accordance with the provisions of section 80 is reduction of preference share capital. Multiple Choice Questions and Answers (MCQs), Financial Statement and Financial Statements Analysis, MCQ on Internal Reconstruction and Capital Reduction. TYBCom-Sem-VI-Financial Accounting MCQs - Studocu 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. Accounting procedure when internal reconstruction made 36) 7. 30 seconds. 0000003758 00000 n Here we are providing Notes , MCQs , Question Bank , Notes on Current Affairs & Many More. 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: All rights reserved. Reduction of capital is unlawful except when sanctioned by the court. c) Super Profit. A Ltd. with a share capital of 10,000 equity shares of Rs. 5 fully paid. Holding Company Accounts. <<0ABB1FF79DCA334A925490CD6BFFDF14>]>> reconstruction? 500000 divided into 5000 shares of Rs. 780+ Corporate Accounting Solved MCQs with PDF Download - McqMate [Solved] Internal reconstruction is done due to #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. 22. If the creditors are willing to reduce their claims against the company, (hen the amount of reduction in their claim will be transferred to, 10. %PDF-1.5 % Friends ye artical ke alava other subject Ke bhi article aapko mere website per mil jaenge jiska link me aapko niche de raha hu. Hn0w?Gr "% 2t0 b) Revenue Profit. 10 each fully paid. 0000004701 00000 n t Mprq*8)i(jm8d^zmMNX3t;(e\96!w )?=jp- ]CDH-bf>~Ji}KZw]w#@tf;:HKGr?(1bXT)"Awtt,fs6og2~7Q{T! %@dJQap8?|K( q?$T0!8aq{e_>)I/` # 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. capital reduction A/C will be transfer to: Business Ethics and Corporate Social Responsibility (BECSR). 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. The word And Reduced is added to the name of the company for such period as the court deems fit. 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. 26. Court Confirmation Order has to be registered with the __________ of companies.a) NCLT b) share capital c) Registrar d) none of the above, 19. The expenses for forming and implementing scheme should be debited to ____________ .a) security premium b) share capital c) Internal reconstruction d) capital reduction, 15. xb```"WV AX,p}GynByz||kWU]{KYD$9#c'{-(&P!M cE.IJdKyAJR'![FQ[[F,r8|m5@+@nh``@P,@0yl 0 3. Consent of creditors is not required if capital reduction involves the writing off of paid up capital lost or not represented by available assets. A company has issued capital of 10,000 equity shares of Rs. If there is any balance in the capital reduction account after writing off all the accumulated losses, then the same is transferred to: (i) Share capital account Consent of creditors is required if capital reduction involves diminution of liability regarding uncalled capital or return of paid up capital. 10 each fully paid. MCQ on Amalgamation and External Reconstruction - CMA TUTORS In internal reconstruction, the existing company will be . 0000001427 00000 n Main aim of this blog is to provide all academic resources and information's especially for Commerce Stream Students. In internal reconstruction, amount sacrificed by shareholders are PDFs for offline use. We take free online Practice/Mock test for exam preparation. Each MCQ is open for further discussion on discussion page. All the services offered by McqMate are free. Accounting for Internal Reconstruction. Download PDF. When a company converts its equity shares into the capital stock, then the account to be credited is: 4. It decides to convert its capital into 20,000 equity shares of Rs. Amount sacrificed by shareholders are credited to: 14. Internal reconstruction. 31) Reconstruction includes all of the following except 32) . The video explains important mcqs on Internal Reconstruction of company #Capital Reduction #Account 0000006983 00000 n J%7uI 8vjYZOM}r,2s.Z 'Xj:8A3v8^X.x=a4$ State whether the following statements are True or False: According to sec. 0000031742 00000 n 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. 12. a) face b) market c) both of a & b d) none of the above 12. Suraj Patel Education is one of the best blog on Education . Attend Live Classes using Any Device be it Phone, Tablet or Computer, 5th Floor, North Wing, SJR Computerized Accounting Practices. Internal Reconstruction and Capital Reduction Notes, Corporate objective of our platform is to assist fellow students in preparing for exams and in their Studies (a) Profit (b) Loss (a)No Profit-No Loss (a) nil 5. Shareholders not approving scheme is called _________ shareholders. Hey Guys, Myself Kumar Nirmal Prasad, a Teacher turned Full time Blogger and Investor. %%EOF 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. MCQ on Internal Reconstruction : Multiple choice questions and answers December 18, 2021 by Abhimaynu Multiple choice questions and answers 1. Internal Reconstruction is also known as Capital Reduction. Internal reconstruction result in the reduction of the capital of the company. Multiple Choice Questions. Cancellation of unissued capital is also a case of capital reduction. 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. Number 8/2 & 9, Sarjapur Road, Bengaluru, Karnataka- 560 103. 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 MCQ - Internal Reconstruction and Capital Reduction | Multiple Choice 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. TRpH[QU4] (kB7v The HUB, Sy. 5 each. The cancellation of contingent liability is____ for company. 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) Only unsuccessful companies undertake capital reduction. 500000 divided into 5000 shares of Rs. Checkout Top Schools 15. No journal entry is required for cancellation of unissued share capital. 21.Only unsuccessful companies undertake capital reduction. Download PDF. The word And reduced cannot be added to the name of the company if no direction has been given by the court. 0000003198 00000 n Save my name, email, and website in this browser for the next time I comment. The Shareholders can surrender shares for ________ or ____________ .a) re-issue, cancellation b)Fresh Issue, Redemption c) none of the above, 5. Valuation of Shares. 22 0 obj <> endobj 10 each fully paid decides to repay Rs. It decides to convert its capital into 20,000 equity shares of Rs. PDF Amalgamation, Absorption & External reconstruction - NKT Degree College Company Final Accounts. Currently, however, non-invasive language decoders . 0000009805 00000 n The full balance of capital is to be debited, if _____________ value is reduced. Vertical Horizontal Conglomerate Demerger In case of Internal Reconstruction , the company is. Any loss on revaluation of the assets at the time of internal reconstruction, will be charged from. 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. GUD}%DQO}$m|@}L*#{`g5fd4"b~d|{\?1>c:-G $}gKYVAAy)>uvH/4SPHl"@@9HI,+XP f!M7fNG/_M=,(\q #d5*-1Kv 1,G( 4^:SiOfuN7"z~7~D`K773QspCMcJ|H"#6 r+i7.eW>Q3 sT 2g3O\b ^_T_ET_[JD=+x[oct;GYO|T-"['SRt~"7f If there is any balance in the capital reduction account after writing off all the accumulated losses, then the same is transferred to , 7. 5 per share thus making each share of Rs. Accounting for Internal Reconstruction Important MCQs. b) Revenue Profit. 500000. b) X Ltd. Having a share capital of Rs. M.A EXAM :- https://t.me/mastudentsexam, https://www.youtube.com/channel/UCv8JIY58xfWHUIXVu9wxNHw. 0000003520 00000 n Corporate Accounting MCQ Question Bank Reconstruction of Companies. Computerized Accounting Practices. HQJo.& ;&|&LZ$w$\bRp|)oG@4}=& C8Yn*]izM6fVjAVjEM'#Y+Lx4=_TZ%x9GbmiH2y2R Internal reconstruction Definition & Meaning | Dictionary.com The term Internal Reconstruction means: 7. Accounting for Internal Reconstruction Solved MCQs - McqMate It is a case of: (i) Reducing share capital by returning the excess capital, (ii) Reducing the liability on account of uncalled capital. 1. 55 0 obj <>stream 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. In case of sub-division of share capital the total number of shares, 2. 0000009547 00000 n 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 : throughout their Academic career. Company Liquidation Accounts. Agreement. Redemption of preference shares is a case of capital reduction. Share Capital A/c (100) Dr. 500000, Share Capital A/c (10) Cr. Amalgamation, Absorption & External reconstruction Multiple Choice Questions 1. (a) 1 (b) 2 (a)3 (a) many 4. 0000007752 00000 n 0000008674 00000 n 5. 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. Ans: c) Capital Reduction. 19. b) X Ltd. Having a share capital of Rs. 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 . Restructuring Internal Reconstruction 22 State an arrangement whereby the assets of two ro more companies come under the control of one company? Ixdp]A:DKp 7>+^wsvKC?0c oLm7{ V[H,Q~$agt8O4js_22Q|Waoq\WU c) Super Profit. Corporate Accounting Multiple Choice Questions and Answers (MCQs A company resorts to internal reconstruction or capital reduction only in exceptional circumstances. 0000002930 00000 n In internal reconstruction, increase in the value of fixed assets is credited to. 16. No journal entry is required for cancellation of unissued share capital. 500000 divided into 50000 shares of Rs. 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. 17. in Bangalore here: Software Service Multiple Choice Questions and Answers 1. 23. 0000001241 00000 n endstream endobj startxref s |4 If the ABC Limited and DEF Limited are taken over by a new company XYZ Limited 0000005402 00000 n Forfeiture and Surrender of shares is a case of capital reduction. A company must pass a special resolution for reduction of capital. 59 23 __________ 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. :u4$L"G0cOpe"MH3SIoIe?+-;YH1k G@bV+o /FV.)|[%;$3 >% LMhLI3kve^v2zWl:{ eM>"2+hY$Jddt'i;|` hbbd```b``"A$v 30 seconds. 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. PDF Multiple Choice Questions %%EOF When an existing company takes over the business of one or more existing companies, it is called. a) X Ltd. Having a share capital of Rs. --------- is the account created in connection with internal reconstruction. CORPORATE ACCOUTNING ( MCQS WITH ANWERS) - Studocu 5 fully paid. Share Capital A/c (10) Dr. 500000. c) X Ltd. Having a share capital of Rs.
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