No journal entry is required for cancellation of unissued share capital. No journal entry is required for cancellation of unissued share capital. 500000 divided into 5000 shares of Rs. Internal Reconstruction - Advanced Accounting - MCQ Test - Teachmint 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. s 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 500000 divided into 50000 shares of Rs. If there is any balance in the capital reduction account after writing off all the accumulated losses, then the same is transferred to , 7. Company Liquidation Accounts. Internal Reconstruction is also known as Capital Reduction. The scheme of internal reconstruction involves ___ company. It decides to convert its capital into 20,000 equity shares of Rs. 21.Only unsuccessful companies undertake capital reduction. --------- is the account created in connection with internal reconstruction. [Solved] Internal reconstruction is done due to (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 https://www.surajpateleducation.com/2021/01/marketing-research-tybcom-mcq-pdf.html, https://www.surajpateleducation.com/2020/12/human-resource-management-tybcom-mcq.html, https://www.surajpateleducation.com/2020/12/cost-accounting-tybcom-mcq-pdf.html, https://www.surajpateleducation.com/2020/10/mcom-tybcom-indirect-tax-20-most.html, https://www.surajpateleducation.com/2020/09/direct-tax-sem-v-atkt-question-bank-2020.html, Strategic Management Question Bank Than Pay Rs 100 Only, Dosto Agar App Vedio Dekhana Chate Ho Related Education To Aap Mere Youtube Channel Par Jaskate Ho Dosto Niche Link Derha Hu, DIRECT TAX SEM V (ATKT) Question Bank-2020, F.Y.B.COM Environmental Studies MCQ PDF | Environmental Studies MCQ, T.Y.B.COM MCQ | T.Y.B.COM Mumbai University All Subject MCQ, ADVANCED CORPORATE ACCOUNTING M.COM PART 1 MCQ. 12. 1. PDF Question Bank Corporate Restructuring Sem Vi Oct. 2020 - Rset in Bangalore here: Software Service Accounting for Internal Reconstruction Multiple choice questions and answers. ,ffFP7(]Pa&i& b+ + bg
a) dissenting b) paying c) pay disentient shareholders The Sub division of shares does not result in ___________ of capital.a) reduction b) added c) Compromise d) none of the above, 4. 500000 divided into 5000 shares of Rs. Under which of the following circumstances can a company resort to internal reconstruction? In internal reconstruction, amount sacrificed by shareholders are Any loss on revaluation of the assets at the time of internal reconstruction, will be charged from. Holding Company Accounts. External reconstruction. PDF Chapter - 1 : Amalgamation, Absorbtion and External Reconstruction (As 500000. b) X Ltd. Having a share capital of Rs. #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. 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 capital reduction A/C is transferred to : CORPORATE ACCOUTNING ( MCQS WITH ANWERS) - Studocu answer choices. We provide you study material i.e. Main aim of this blog is to provide all academic resources and information's especially for Commerce Stream Students. McqMate.com is an educational platform, Which is developed BY STUDENTS, FOR STUDENTS, The only 11. Forfeiture and Surrender of shares is a case of capital reduction. 17. HQJo.&
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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. 1. When a company converts its equity shares into the capital stock, then the account to be credited is: 4. 0000004701 00000 n
Solved MCQs for Accounting for Internal Reconstruction, Accounting for Internal Reconstruction MCQs with answers PDF download, Bachelor of Business Administration (BBA), Human Resource Management Principles and Functions, Reading on Indian Constitution, Secularism and Sustainable Environment, Transactions- Essential English Language Skills. throughout their Academic career. Here we are providing Notes , MCQs , Question Bank , Notes on Current Affairs & Many More. Our website uses cookies to improve your experience. Shareholders not approving scheme is called _________ shareholders.a) dissenting b) paying c) pay disentient shareholders d) none of the above, 13. objective of our platform is to assist fellow students in preparing for exams and in their Studies According to sec. MCQ on Internal Reconstruction : Multiple choice questions and answers December 18, 2021 by Abhimaynu Multiple choice questions and answers 1. In case of sub-division of share capital the total number of shares, 2. endstream
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4~"\ All rights reserved. Internal Reconstruction MCQ (Free) | Capital Reduction September 29, 2021 11. T.Y.B.com Financial Accounting mcq with answers - Suraj Patel Education c) X Ltd. Having a share capital of Rs. (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. 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 2. Cancellation of unissued capital is also a case of capital reduction. Hn0w?Gr "%
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A company resorts to internal reconstruction or capital reduction only in exceptional circumstances. 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. a) authorized capital b) Called up capital c) Uncalled capital 500000 divided into 50000 shares of Rs. 43 0 obj
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The objective of reconstruction is to write off ___________ .a) profit b) accumulated losses c) nil d) none of the above, 18. 5 each. Save my name, email, and website in this browser for the next time I comment. Only unsuccessful companies undertake capital reduction. The scheme of internal reconstruction requires approval of ____________ .a) Shareholders b) Central Government c) NCLT d) all the above, 7. 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. Follow me on YouTube - Dynamic Tutorials and Services. Accounting for Amalgamation, Absorption and External. GUD}%DQO}$m|@}L*#{`g5fd4"b~d|{\?1>c:-G $}gKYVAAy)>uvH/4SPHl"@@9HI,+XP f!M7fNG/_M=,(\q
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2g3O\b ^_T_ET_[JD=+x[oct;GYO|T-"['SRt~"7f 10 each fully paid decides to repay Rs. Accounting Standard for amalgamation is: AS-3 AS-9 AS-12 AS-14 (AS-14 deals with accounting for amalgamation) Answer :- AS-14 (AS-14 deals with accounting for amalgamation) 2. according to AS - 14, purchase consideration is the sum of payments made to the: Debenture holders and Shareholders Shareholders 64 of the Companies Act, 2013 the company shall give notice of the alternation of capital to the registrar within 45 days. 30 seconds. Internal Reconstruction and Capital Reduction Notes, Corporate AMALGAMATION, ABSORPTION & EXTERNAL RECONSTRUCTION - Quiz The fictitious debit balances are to be transferred to ___________ Account.a) internal reconstruction b) security premium c) share capital d) Capital Reduction, 9. 59 23
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KZCO2IJaDR,~Tt,!Oq]RA>z$\IU Hey Guys, Myself Kumar Nirmal Prasad, a Teacher turned Full time Blogger and Investor. Internal Reconstruction - Commerceiets When a company converts its equity shares into the capital stock, then the account to be credited is , 4. Agreement. Court Confirmation Order has to be registered with the __________ of companies.a) NCLT b) share capital c) Registrar d) none of the above, 19. 5 each. 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 endstream
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Multiple Choice Questions and Answers (MCQs), Financial Statement and Financial Statements Analysis, MCQ on Internal Reconstruction and Capital Reduction. 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) 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. J%7uI 8vjYZOM}r,2s.Z 'Xj:8A3v8^X.x=a4$ PDF Amalgamation, Absorption & External reconstruction - NKT Degree College When an existing company takes over the business of one or more existing companies, it is called. 5 fully paid. :u4$L"G0cOpe"MH3SIoIe?+-;YH1k G@bV+o 10 each, consolidated the shares into 5000 shares of Rs. If there is any balance in the capital reduction account after writing off all the accumulated losses, then the same is transferred to: (i) Share capital account To carry out capital reduction, permission is required from: a) X Ltd. Having a share capital of Rs. In internal reconstruction, the existing company will be . Multiple Choice Questions. 0000003520 00000 n
a) face b) market c) both of a & b d) none of the above 12. 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 . Checkout Top Schools Accounting for Amalgamation, Absorption and External. If there is any balance in the capital reduction account after writing off all the accumulated losses, then the same is transferred to: 8. 0000002930 00000 n
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. In internal reconstruction, increase in the value of fixed assets is credited to. 0000003758 00000 n
Multiple Choice Questions 1)Voluntary winding up: a)If period fixed for the company is expired. Internal reconstruction Definition & Meaning | Dictionary.com a) 77 b) 100 c) 66 d) 75 2. 0000000756 00000 n
Under Sec. Amalgamation. All rights reserved. 5 per share thus making each share of Rs. Accounting for Internal Reconstruction [Set 1] PDF, Accounting for Amalgamation, Absorption and External, Chapter: Accounting for Internal Reconstruction. b) Revenue Profit. Internal Reconstruction of Company Capital Restructuring MCQs Accounting for Internal Reconstruction Solved MCQs - McqMate Q. objective of our platform is to assist fellow students in preparing for exams and in their Studies c) Super Profit. Internal Reconstruction | Specialty Quiz - Quizizz Irk#nf`S_Jlhf6+xx?$UZ$yZ}opP~ fCJ[1[nS+\M]_pOgut9qiWb|Tr@r`Xj 8p2_7y#@DZpNS80dJ^3S2RzP3;! In case of , one existing company takes over the business of another company and no new company is formed Valuation of Shares. Multiple Choice Questions and Answers 1. 8) Pre-acquisition profit is a) Capital Profit. 10 each fully paid. Appreciation in the value of land & building is recorded on ________ side of Capital Reduction Account.a) credit b) debit c) both of a & b d) none of the above. It is a case of, 9. Under which of the following circumstances can a company resort to internal Holding Company Accounts. /PN|]fR9RW*YGfS{5B:>$VYq&Lop WGV1="]GVR:8M Learn more. 55 0 obj
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Corporate Accounting MCQ Question Bank Reconstruction of Companies. more mcqs. 19. The full balance of capital is to be debited, if _____________ value is reduced. Internal reconstruction result in the reduction of the capital of the company. 5. 0000008674 00000 n
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100 each. Accounting procedure when internal reconstruction made 36) 7. /FV.)|[%;$3 >% LMhLI3kve^v2zWl:{ eM>"2+hY$Jddt'i;|` Reconstruction of Companies MCQ - SlideShare Internal reconstruction. 18. endstream
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The HUB, Sy. answer choices. 10 each fully paid decides to repay Rs. Accounting for Internal Reconstruction. b) Revenue Profit. Reduction of capital is unlawful except when sanctioned by the court. t Mprq*8)i(jm8d^zmMNX3t;(e\96!w )?=jp- ]CDH-bf>~Ji}KZw]w#@tf;:HKGr?(1bXT)"Awtt,fs6og2~7Q{T! %@dJQap8?|K( q?$T0!8aq{e_>)I/` #
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 capital reduction A/C is transferred to : After the implementation of scheme of internal reconstruction, any amount left in the capital reduction A/C will be transfer to: 780+ Corporate Accounting Solved MCQs with PDF Download - McqMate Cancellation of unissued capital is also a case of capital reduction. Bring down the assets to their true values. 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, 3. MULTIPLE CHOICE QUESTIONS 1. 0000002299 00000 n
. 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. Reconstruction is a process by which affairs of a company are reorganized by revaluation of assets, reassessment of liabilities and by writing off the losses already suffered by reducing the paid up value of shares and/or varying the rights attached to different classes of shares. A Ltd. with a share capital of 10,000 equity shares of Rs. 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. __________ 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. The difference in revaluation of assets is to be transferred to ___________ Account.a) internal reconstruction b) Capital Reduction c) security primium d) capital reserve, 10. 10 each. Computerized Accounting Practices. %PDF-1.5
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A company has issued capital of 10,000 equity shares of Rs. Consent of creditors is not required if capital reduction involves the writing off of paid up capital lost or not represented by available assets. Consent of creditors is not required if capital reduction involves the writing off of paid up capital lost or not represented by available assets. Share Capital A/c (100) Dr. 500000, Share Capital A/c (10) Cr. It is a case of: (i) Reducing share capital by returning the excess capital, (ii) Reducing the liability on account of uncalled capital. In internal reconstruction, the existing company will be The term "Internal Reconstruction" means: (i) Reduction of Share Capital (ii) Variation of Shareholder's right (iii) Alternation of share capital (iv) All of the above 7. 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. TRpH[QU4] (kB7v 11. JD%@"i0iB*c`EX 0000003418 00000 n
b) Absorption. It decides to convert its capital into 20,000 equity shares of Rs. 0000006983 00000 n
Internal reconstruction is done due to .. 10. 0000005402 00000 n
Corporate Accounting Multiple Choice Questions and Answers, Mumbai University B.Com - MCQs, Exam MCQs and Solved Papers, Auditing MCQs Multiple Choice Questions and Answers | Auditing MCQs For B.Com, CA, CS and CMA Exams, Management Accounting MCQs [Multiple Choice Questions and Answers], MCQ On Budget and Budgetary Control | Multiple Choice Questions and Answers, MCQ on Accounts of Holding Companies [Multiple Choice Questions and Answers], Corporate Accounting Multiple Choice Questions and Answers (MCQs) | Company Accounts MCQs. Corporate Accounting Multiple Choice Questions and Answers (MCQs Consent of creditors is required if capital reduction involves diminution of liability regarding uncalled capital or return of paid up capital. The word And reduced cannot be added to the name of the company if no direction has been given by the court. In case of Internal Reconstruction , the company is. Section 66 of the companies Act governs the internal reconstruction. Question 2. %%EOF
Company Liquidation Accounts. Manan Prakashan 1 CHAPTER - 1 : AMALGAMATION, ABSORBTION AND EXTERNAL RECONSTRUCTION (AS - 14) MULTIPLE CHOICE QUESTIONS. 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 Bachelor of Business Administration (BBA). [Solved] Capital Reduction Account is a - mcqmate.com Internal Reconstruction MCQ (Free) | Capital Reduction The Capital reduction means reduction in ____________ value of shares.a) authorized capital b) Called up capital c) Uncalled capital d) paidup value, 3. We provide you study material i.e. For writing off the accumulated Josses under the scheme of capital reduction, we debit: 6. Latest Reconstruction of companies MCQ Objective Questions - Testbook 0 ]
Computerized Accounting Practices. wound up. In which of the following cases, procedure of reduction of capital is not called for: (iii) Surrender of shares or gift of shares. PDF Multiple Choice Questions A company must pass a special resolution for reduction of capital. 20. Accounting for Internal Reconstruction Important MCQs. MCQ - Internal Reconstruction and Capital Reduction | Multiple Choice 0000040014 00000 n
Important Links: Question and answers in Accounting for Internal Reconstruction. Virtual Classroom and LMS Software | WizIQ MCQ on Amalgamation and External Reconstruction - CMA TUTORS Eliminate the accumulated losses from the books.
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