Accountancy MCQ Class 12 Chapter 6: Check the below NCERT MCQ Questions for Accountancy MCQ Class 12 Chapter 6 with Answers Pdf free download. Accountancy MCQ Class 12 Chapter 6 Questions for Accountancy with Answers were prepared based on the latest exam pattern. We have provided Accountancy MCQ Class 12 Chapter 6 with Answers to help students understand the concept very well.

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Accountancy MCQ Class 12 Chapter 6

1. Reserve share capital means :
(a) Part of authorised capital to be called at the beginning
(b) Portion of uncalled capital to be called only at liquidation
(c) Over subscribed capital
(d) Under subscribed capital

2. Balance of forfeited shares account after the reissue of forfeited shares is transferred to _______.
(a) Profit and loss A/c
(b) Capital reserve account
(c) General reserve account
(d) None of the above

3. When full amount is due on any call but it is not received, then the short fall is debited to :
(a) Calls-in-advance
(b) Calls-in-arrear
(c) Share Capital
(d) Suspense Account

4. What does reserve capital mean?
(a) A part of subscribed uncalled capital
(b) Reserve profit
(c) A part of capital reserve
(d) A part of capital redemption reserve

5. Premium on the issue of shares is shown on which side of the balance sheet?
(a) Assets
(b) Liabilities
(c) Both assets and liabilities
(d) None of the above

6. The difference between subscribed capital and called up capital is called :
(a) Calls-in-arear
(b) Calls-in-advance
(c) Uncalled capital
(d) None of these

7. Securities premium can not be applied ________.
(a) For paying dividends to members
(b) For issuing bonus shares to members
(c) For writing off preliminary expenses of the company
(d) For writing off discount on issue of debentures

8. Which statement is issued before the issue of shares ?
(a) Prospectus
(b) Articles of Association
(c) Memorandum of Association
(d) All of these

9. Company can utilise securities premium for :
(a) Writing off loss incurred on revaluation of asset
(b) Issuing fully paid bonus shares
(c) Paying divided
(d) Writing off trading loss

10. Under the provisions of the Companies Act, the company can issue_______.
(a) Only equity shares
(b) Only preference shares
(c) Preference shares and equity shares
(d) None of the above

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