1) Who is the real Owner of Company? a) Debenture b) Shareholders c) Partners d) Creditors 2) From year which companies Act was applicable in India? a) 1923 b) 1932 c) 1956 d) 1965 3) Who administered the company? a) Board of Directors b) Shareholders c) Debenture holders d) Representatives 4) What is the minimum numbers to members for public company? a) 2 b) 5 c) 7 d) 10 5) What is the maximum numbers of members for private company? a) 2 b) 7 c) 10 d) 200 6) State maximum member of application for share application? a) Two b) Three c) Four d) Five 7) In how many instalments (maximum ), a company can call per share amount? a) Two b) Three c) Four d) Five 8) How many interests rate per annum is to be paid on calls in advance? a) 5% b) 7% c) 12% d) 10% 9) For public issue of shares company has to take a permission from whom? a) Central government b) SEBI c) State government d) Reserve Bank 10) Lock in period of sweat equity share is of how many years? a) One b) Two c) Three d) Four 11) Demat account is just like which account? a) Current b) Cash Credit c) Saving d) Overdraft 12) To which statutory body, application for the public issue is to be send ? a) LIC b) Government of India c) SEBI d) Finance Department 13) At what maximum rate of percentage for premium on the face value of shares can be declared by the company on their issue shares? a) 10% b) 100% c) 25% d) No Limit 14) Which of the following is not shown under the heading ' Share Capital ' in a Balance sheet? a) Authorised Capital b) Issued Capital c) Reserve Capital d) Subscribed Capital 15) To which account excess amount of share forfeiture account is to be transferred? a) Share premium account  b) Capital reserve account c) Reserve capital account d) Share instalment account

Ch : 1 Accounting for Share Capital ( Account- Quiz)

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