MCQOPTIONS
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MCQOPTIONS
This section includes 60 Mcqs, each offering curated multiple-choice questions to sharpen your Bachelor of Accounting and Finance (BAF) knowledge and support exam preparation. Choose a topic below to get started.
| 51. |
10. Amount of retirement benefits of employees exceeding Rs.20,000 per employees is treated as____________ |
| A. | secured creditors |
| B. | unsecured creditors |
| C. | over-riding preferential creditors |
| D. | preferential creditors |
| Answer» E. | |
| 52. |
9. Equity Shareholders giving up their claim to the reserves & accumulated profit amounts to______________ |
| A. | reduction of share capital |
| B. | alteration of share capital |
| C. | compromise/ arrangement |
| D. | variation of shareholders rights |
| Answer» D. variation of shareholders rights | |
| 53. |
8. Accounting for Absorption is governed by______________ |
| A. | as 1 |
| B. | as 13 |
| C. | as 11 |
| D. | as 14 |
| Answer» E. | |
| 54. |
6. R LTD. Issued a debenture of Rs.100 each at Rs.90. The underwriting commission will be paid on___________ |
| A. | rs.95 |
| B. | rs.90 |
| C. | rs.105 |
| D. | rs.100 |
| Answer» C. rs.105 | |
| 55. |
5. In the case of members voluntary winding up liquidator is appointed by _____________ |
| A. | the registrar of companies |
| B. | the central government |
| C. | the company in general meeting |
| D. | the board of directors |
| Answer» D. the board of directors | |
| 56. |
4. Changes in the rate of Preference dividend payable in future without any change in the amount of capital is known as ___ |
| A. | reduction of share capital |
| B. | variation of shareholders rights |
| C. | alteration of share capital |
| D. | compromise/ arrangement |
| Answer» C. alteration of share capital | |
| 57. |
7. Buy Back refers to______________ |
| A. | refund of debentures |
| B. | refund of preference share capital |
| C. | refund of equity share capital |
| D. | purchase of own debenture |
| Answer» D. purchase of own debenture | |
| 58. |
3. A feature which is common in all cases or merger__________________- |
| A. | liquidation of at least two companies |
| B. | liquidation at least one existing company & formation of another company |
| C. | formation of at least one new company |
| D. | purchase of one comapany by another company |
| Answer» E. | |
| 59. |
2. The Buy Back of equity shares is governed by________________ of Companies Act |
| A. | section 117 c |
| B. | section 80 |
| C. | section 100 to 104 |
| D. | section 68 |
| Answer» B. section 80 | |
| 60. |
1. The underwriting commission in the case of debentures as per Companies Act, should not exceed_________ |
| A. | 2.5% of the price at which debenture are issued |
| B. | 3% of the price at which the debentures are issued |
| C. | 4% of the price at which debentures are issued |
| D. | 5% of the price at which debentures are issued |
| Answer» B. 3% of the price at which the debentures are issued | |