5 each. We provide you study material i.e. Computerized Accounting Practices. Section 66 of the companies Act governs the internal reconstruction. Our moto is to make Responsible Accountant and Employee of whichever is field whether student be like . 0000002299 00000 n 0000040014 00000 n 10 each. 8) Pre-acquisition profit is a) Capital Profit. Valuation of Shares. Ans: a) Capital Profit. 500000 divided into 5000 shares of Rs. TRpH[QU4] (kB7v Save my name, email, and website in this browser for the next time I comment. 0000004701 00000 n Forfeiture and Surrender of shares is a case of capital reduction. In case of , one existing company takes over the business of another company and no new company is formed 11)face 12)dissenting 13)Schedule III 14)capital reduction 15)funds 16)debited 17)accumulated losses 18)Registrar 19)internal reconstruction 20)credit, 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, Financial Accounting Mcqs | More Than 700 Free MCQs, 12th SP Chapter 6 Solution (Correspondence with Members) Maharashtra Board Free Solution. A company has issued capital of 10,000 equity shares of Rs. 59 23 Copyright 2023 McqMate. 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. 500000, Micro Economics Notes and Important Questions, Reducing share capital by returning the excess capital, Reducing the liability on account of uncalled capital. For writing off the accumulated Josses under the scheme of capital reduction, we debit, 6. 5 fully paid. A company must pass a special resolution for reduction of capital. Question and answers in Accounting for Internal Reconstruction. External reconstruction. In case of sub-division of share capital the total number of shares Increases Decreases Does not change. We would like to show you a description here but the site won't allow us. Main aim of this blog is to provide all academic resources and information's especially for Commerce Stream Students. 0000001427 00000 n Amalgamation, Absorption & External reconstruction Multiple Choice Questions 1. To carry out capital reduction, permission is required from: 14. AM$|?F9 UY 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. 21.Only unsuccessful companies undertake capital reduction. endstream endobj 23 0 obj <> endobj 24 0 obj <> endobj 25 0 obj <>stream 0000003418 00000 n The scheme of internal reconstruction can be utilized to provide ____________ for the company.a) funds b) share capital c) dividend d) none of the above, 16. Win vouchers worth INR 2,000 with our School Referral Program, Ranked Amongst Top 25 Companies by LinkedIn. objective of our platform is to assist fellow students in preparing for exams and in their Studies It decides to convert its capital into 20,000 equity shares of Rs. 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 Manan Prakashan 1 CHAPTER - 1 : AMALGAMATION, ABSORBTION AND EXTERNAL RECONSTRUCTION (AS - 14) MULTIPLE CHOICE QUESTIONS.
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