Q$.1$ A$)$ MULTIPLE CHOICE QUESTIONS.

RBI is a

a$)$ Statutory company

b$)$ Registered company

c$)$ Listed company

d$)$ Chartered company

Discounted bill of exchange is a

a$)$ Contingent Liability

b$)$ Current liability

c$)$ Non$-$Current Liability d$)$ Fixed Liability

Partly paid shares can be made fully paid by capitalizing

a$)$ General reserve

c$)$ Securities Premium

b$)$ Capital Redemption Reserve d$)$ All of the above

Bonus shares cannot be issued by capitalizin

a$)$ Revaluation reserve

c$)$ Capital Reserve

b$)$ Securities premium

d$)$ General Reserve

Discount on issue of Debentures is $$

a$)$ Capital loss

c$)$ Revenue loss

b$)$ Capital profit

d$)$ Revenue profit

The Companies Act $2013$

a$)$ Prescribes restrictions on issue of debentures at discount

b$)$ Does not prescribe any restrictions on issue of debentures at discount

c$)$ Provides no issue of debentures at discount

d$)$ All of the above

The reserve which cannot be transferred to Capital Redemption Reserve.

a$)$ Securities premium $\frac{A}{c}$

c$)$ Revaluation Reserve

b$)$ Profit prior to incorporation d$)$ All of the above

A company can issue

a$)$ Only redeemable preference shares

c$)$ Only Deferred shares

b$)$ Only irredeemable preference shares

d$)$ All of the above

Debentures may be redeemed out $o$

a$)$ Capital

b$)$ Profit

c$)$ Conversion into shares

d$)$ All of the above

Capital Reserve is

a$)$ Current year's profit

b$)$ Past accumulated profits

c$)$ Capital profit

d$)$ Divisible profit

computation of pre$-$incorporation profit carriage on purchases is

a$)$ Allocated in sales ratio

b$)$ Allocated in purchase ratio

c$)$ Debited to pre$-$incorporation period d$)$ Debited to post$-$incorporation period

For computation of pre$-$incorporation profit travelling expenses are allocated in

a$)$ Pre$-$incorporation period

b$)$ post incorporation period

c$)$ In sales ratio

d$)$ In time ratio