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a) 77 b) 100 c) 66 d) 75 2. If there is any balance in the capital reduction account after writing off all the accumulated losses, then the same is transferred to , 7. 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. 500000 divided into 50000 shares of Rs. /FV.)|[%;$3 >% LMhLI3kve^v2zWl:{ eM>"2+hY$Jddt'i;|` 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 5 fully paid. 22. External reconstruction. PDF Chapter - 1 : Amalgamation, Absorbtion and External Reconstruction (As 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 Accounting for Amalgamation, Absorption and External. A Ltd. with a share capital of 10,000 equity shares of Rs. 31) Reconstruction includes all of the following except 32) . PDF INTERNAL RECONSTRUCTION - sgp1.digitaloceanspaces.com 22 0 obj
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Internal Reconstruction - Advanced Accounting - MCQ Test - Teachmint 5 each. 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 . 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. 0000000016 00000 n
Amalgamation, Absorption & External reconstruction Multiple Choice Questions 1. In a scheme of reorganisation amount of shares surrendered by shareholders is transferred to: 13. hTA0>C. %%EOF
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Currently, however, non-invasive language decoders . 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. Under which of the following circumstances can a company resort to internal hVN;?*:_ Internal reconstruction result in the reduction of the capital of the company. In internal reconstruction, the existing company will be 61 of the companies act, 2013, a limited company can increase, sub-divide or consolidate all or part of its existing share if authorised by its articles of association. c) Capital Reduction. Save my name, email, and website in this browser for the next time I comment. Alteration of share capital can be affected by passing an ordinary resolution. objective of our platform is to assist fellow students in preparing for exams and in their Studies %PDF-1.4
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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. Company Liquidation Accounts. 10 each fully paid decides to repay Rs. endstream
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The reduction of capital is permitted under _____________ of Companies Act.a) 77 b) 100 c) 66 d) 75, 2. xref
The term Internal Reconstruction means: 7. In case of sub-division of share capital the total number of shares, 2. PDF Amalgamation, Absorption & External reconstruction - NKT Degree College If there is any balance in the capital reduction account after writing off all the accumulated losses, then the same is transferred to: 8. 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. In a scheme of reorganization amount of shares surrendered by shareholders is transferred to: 12. To carry out capital reduction, permission is required from: 14. Corporate Accounting MCQ Question Bank Reconstruction of Companies. Amount sacrificed by shareholders are credited to: 14. reconstruction? 10 each. b) X Ltd. Having a share capital of Rs. 5 each. A company must pass a special resolution for reduction of capital. Checkout Top Schools (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. Consent of creditors is not required if capital reduction involves the writing off of paid up capital lost or not represented by available assets. b) Absorption. MCQ on Internal Reconstruction : Multiple choice questions and answers Important Links: PDF Question Bank Corporate Restructuring Sem Vi Oct. 2020 - Rset Accounting for Internal Reconstruction Multiple choice questions and answers. 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 The word And reduced cannot be added to the name of the company if no direction has been given by the court. 0000002299 00000 n
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When two or more existing companies combine together to form a new company, it is termed as. Court Confirmation Order has to be registered with the __________ of companies.a) NCLT b) share capital c) Registrar d) none of the above, 19. PDF Multiple Choice Questions 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. Our moto is to make Responsible Accountant and Employee of whichever is field whether student be like . PDF Sample Questions For B.Com. ( Accounting & Finance) -Sem V 2019-2020 startxref
Share Capital A/c (100) Dr. 500000, Share Capital A/c (10) Cr. 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. It is a case of: (i) Reducing share capital by returning the excess capital, (ii) Reducing the liability on account of uncalled capital. 30 seconds. 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 15. The Capital reduction means reduction in ____________ value of shares. If the ABC Limited and DEF Limited are taken over by a new company XYZ Limited 0000008674 00000 n
Main aim of this blog is to provide all academic resources and information's especially for Commerce Stream Students. Accounting procedure when internal reconstruction made 36) 7. Only unsuccessful companies undertake capital reduction. The full balance of capital is to be debited, if _____________ value is reduced. Virtual Classroom and LMS Software | WizIQ For writing off the accumulated Josses under the scheme of capital reduction, we debit: 6. Eliminate the accumulated losses from the books. 55 0 obj
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Section 66 of the companies Act governs the internal reconstruction. 5 fully paid. Answer :- Increases 2. [Solved] Internal reconstruction can be done by - McqMate Company Liquidation Accounts. HUn9}om # Any loss on revaluation of the assets at the time of internal reconstruction, will be charged from. Corporate Accounting Multiple Choice Questions and Answers (MCQs 0000001241 00000 n
10 each fully paid. 10 each fully paid. Amalgamation. c) Super Profit. 0000001960 00000 n
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Taken over. After the implementation of scheme of internal reconstruction, any amount left in the capital reduction A/C will be transfer to: For amalgamation in the nature of merger, the shareholders holding at least or more of the equity shares of the transferor company becomes the equity shareholders of the transferee company. 7) Post-acquisition Profit is a) Capital Profit. Internal Reconstruction MCQ (Free) | Capital Reduction September 29, 2021 11. Reduction of capital is unlawful except when sanctioned by the court. Merger Buyout Joint Venture De-merger 23Which merger involves firms engaged in unrelated types of activities? [Solved] Capital Reduction Account is a - mcqmate.com Cancellation of unissued capital is also a case of capital reduction. Absorption. 0000003520 00000 n
The objective of reconstruction is to write off ___________ .a) profit b) accumulated losses c) nil d) none of the above, 18. more mcqs. ,ffFP7(]Pa&i& b+ + bg
Multiple Choice Questions. Company Final Accounts. In internal reconstruction, increase in the value of fixed assets is credited to. 0000005402 00000 n
(a) Profit (b) Loss (a)No Profit-No Loss (a) nil 5. 10 each, consolidated the shares into 5000 shares of Rs. The video explains important mcqs on Internal Reconstruction of company #Capital Reduction #Account Bachelor of Business Administration (BBA). Accounting for Internal Reconstruction [Set 1] PDF, Accounting for Amalgamation, Absorption and External, Chapter: Accounting for Internal Reconstruction. Internal Reconstruction MCQ (Free) | Capital Reduction 500000 divided into 5000 shares of Rs. . The HUB, Sy. a) dissenting b) paying c) pay disentient shareholders 64 of the Companies Act, 2013 the company shall give notice of the alternation of capital to the registrar within 45 days. Bring down the assets to their true values. 10. |4 A brain-computer interface that decodes continuous language from non-invasive recordings would have many scientific and practical applications. Q. __________ 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. Accounting for Internal Reconstruction. A company has issued capital of 10,000 equity shares of Rs. The Sub division of shares does not result in ___________ of capital.a) reduction b) added c) Compromise d) none of the above, 4. I am also working on some other websites which will be published soon. Forfeiture and Surrender of shares is a case of capital reduction. Semantic reconstruction of continuous language from non-invasive brain #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. U,]]. Company Final Accounts. A company is free to reduce or extinguish the uncalled liability of its members. more mcqs. :u4$L"G0cOpe"MH3SIoIe?+-;YH1k G@bV+o b) Revenue Profit. 1. MULTIPLE CHOICE QUESTIONS 1. State whether the following statements are True or False: According to sec. (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 Save my name, email, and website in this browser for the next time I comment. Turn around. 500000 divided into 50000 shares of Rs. Latest Reconstruction of companies MCQ Objective Questions - Testbook Multiple Choice Questions and Answers 1. Internal Reconstruction - Commerceiets a) X Ltd. Having a share capital of Rs. 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. (a) 1 (b) 2 (a)3 (a) many 4. Consent of creditors is required if capital reduction involves diminution of liability regarding uncalled capital or return of paid up capital. In case of , one existing company takes over the business of another company and no new company is formed No journal entry is required for cancellation of unissued share capital. The fictitious debit balances are to be transferred to ___________ Account.a) internal reconstruction b) security premium c) share capital d) Capital Reduction, 9. All rights reserved. In which of the following cases, procedure of reduction of capital is not called for: 11. TRpH[QU4] (kB7v 0000002930 00000 n
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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. 3. 100 each, converts it into stock. Internal Reconstruction MCQ MCQs on other topics of Financial Accounting Cost Accounting MCQs pdf 1. Suraj Patel Education is one of the best blog on Education . In internal reconstruction neither the existing company is liquidated, nor is a new company incorporated. We provide you study material i.e. throughout their Academic career.
Manan Prakashan 1 CHAPTER - 1 : AMALGAMATION, ABSORBTION AND EXTERNAL RECONSTRUCTION (AS - 14) MULTIPLE CHOICE QUESTIONS. 1. answer choices. c) X Ltd. Having a share capital of Rs. c) Super Profit. 100 each, converts it into stock. 0 ]
When an existing company takes over the business of one or more existing companies, it is called. 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. 0
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It is a case of, Answer :- Reducing share capital by returning the excess capital, 5. MCQ - Internal Reconstruction and Capital Reduction | Multiple Choice When a company converts its equity shares into the capital stock, then the account to be credited is: 4. 59 0 obj
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b) Revenue Profit. A company is free to reduce or extinguish the uncalled liability of its members. 16. Accounting for Internal Reconstruction Important MCQs. 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 . #2 MCQ for TYBCOM Sem 5 - Internal Reconstruction MCQ's - YouTube Ixdp]A:DKp
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V[H,Q~$agt8O4js_22Q|Waoq\WU T.Y.B.com Financial Accounting mcq with answers - Suraj Patel Education In ____________ , no new company is formed.a) External reconstruction b) Amalgamationc) internal reconstruction d) none of the above, 20. MCQ on Internal Reconstruction : Multiple choice questions and answers December 18, 2021 by Abhimaynu Multiple choice questions and answers 1. 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. wound up. McqMate.com is an educational platform, Which is developed BY STUDENTS, FOR STUDENTS, The only The word And reduced cannot be added to the name of the company if no direction has been given by the court. Ans: b) Revenue Profit. Multiple Choice Questions 1)Voluntary winding up: a)If period fixed for the company is expired. For writing off the accumulated Josses under the scheme of capital reduction, we debit, 6. It decides to convert its capital into 20,000 equity shares of Rs. s We would like to show you a description here but the site won't allow us. 18. Accounting for Internal Reconstruction. --------- is the account created in connection with internal reconstruction. 43 0 obj
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26. The expenses for forming and implementing scheme should be debited to ____________ .a) security premium b) share capital c) Internal reconstruction d) capital reduction, 15. in Bangalore here: Software Service 500000 divided into 5000 shares of Rs. 17. HT=s0+8xDmC?AX9jbN:w)Pgj!V-[._
KDaTJj1~' capital reduction A/C will be transfer to: Business Ethics and Corporate Social Responsibility (BECSR). Equity share capital A/c Dr. 500000, Equity Stock A/c Cr. JD%@"i0iB*c`EX Holding Company Accounts. 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 HyE$=T0dd$@>%o53mXe@8f2"0(#u8WLfR>|>ug2gcA9
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