Question # 1

A company in which memebr gives a guarantee to contribute a specified sum to the company of its being wound up is called.

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Limited company

Un limited company

Company limited by guarantee

Chartered company

The joint stock company is formed under companies ordiance.

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1984

1974

1884

1962

The amount of share capital with which a company is registered is called.

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Authorized capital

Issued capital

Paid up capital

Called up capital

Share capital int he balance sheet is known as.

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Asset

Liability

Income

Reserve

The loss prior to the date of incorporation of a company is.

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Revenue loss

Capital loss

Liability

None of these

The value of the share as quoted on the stock exchange is said to be

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Par value

Book value

Cost value

Market value

The owner wquity in a company is commonly called.

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Shareholder equity

promotors equity

Directors equity

None of these

If the price required to be paid to the company for the share is more than nominal value of that share, it is called.

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At discount

At premium

At par

None of these

The total amount recived by the company out of the totla called up amount is known as the.

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Called up capital

Paid up capital

Issued capital

Reserve capital

The credit balacne of the retained earnings statement represents.

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Undisturbed Profit

Divided declared

Profit distributed

None of these

Normaly the discount on the shares should not exceed from

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Five percent

Eight percent

Twenty percent

Ten percent

The liability of the shareholder of a public limited company is.

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Unlimited

Limited

Compulsory

None of these

The sum total of the nominal vaue of shares of company is called is.

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Issued capital

Subscribed capital

Share capital

Called up capital

Those debentures wihch carry no security as to payment of interest or repayment of principal, are known as.

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Morigage debentures

Secured debentures

Simple or naked debentures

None of these

Those debentures which carry no security as to payment of interest or repayment of principal, are known as.

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Morgagage debentures

Secured debentures

Simple of naked debentures

None of these

A person who purchases the share of the company becomes its.

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Share holder

Debenture holder

Under writer

Promoter

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Principles of Accounting Icom Part 2 English Medium Chapter 8 Online Test MCQs With Answers

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