B.com. 6 Sem Corporate Accounting
Q1. Define the term “Accounting Standards”.
Q2. Explain the clauses related to the maintenance of books of accounts and annual return maintained by the companies.
Q3. What do you mean by Right Issue of Shares?
Q4. Write short notes on–Marked and Un-Marked Application.
Q5. What is debenture? Explain its different classes.
Q6. What journal entries are passed in the books of transferor company and transferee company regarding amalgamation/absorption?
Q7. What do you mean by a holding company? Explain the circumstances under which one company controls the other.
Q8. What do you understand by Liquidator’s Statement of Account? When it is prepared and how?
On 1st January, 2002 Sanju Limited issued ` 6,00,000; 12% Debentures redeemable after 10 years at par. The company established a non-cumulative sinking fund for their redemption. The sinking fund moneys were to remain the business or invested in 8% trustee securities at the discretion of the directors. During the first five years, the amount transferred to sinking fund and investments made were as under: Year Amount transferred to Sinking Fund Amount Invested
2000 40,000 8,000
2001 60,000 40,000
2002 40,000 50,000
2003 80,000 Nil
2004 Nil 30,000
Q1. You are required (a) to prepare necessary accounts for the first five years
Q2. to show these accounts in the balance sheet of at the end of 2004
Q3. to state briefly how the amount of the sinking fund would be disposed of when the debentures have been paid off.
1. Register of buy back of shares is …………………..
2. Entries in the register of members will be made in …………………from the date of approval of allotment, Transfer of share, debentures or any other securities.
3. The register of debenture holder should be preserved for a period of …………….from the date of redemption of debentures.
4. ………………deals with Accounting for Amalgamations
5. Entries in the register should be authenticated by the …………….of the company or by any other person authorized by the Board for the purpose.
6. All contracts entered into by a company for the appointment of a manager or managing director shall be…………………..
7. The register of director’s shareholding should be preserved…………………
8. Register of buy back of shares should be preserved for a minimum period of ………………..from the date of completion of buyback.
9. Minimum subscription has been determined at ___________ of the total issue.
10. The gain on reissue of forfeited shares is credited to:
11. Premium on issue of shares can be utilised for:
12. A company limited by shares is not permitted to return the share money to its shareholders except in the case of its:
13. Where the issuing company is a ……………..company then the provisions of Section 81 do not apply.
14. Premium on redemption of debenture account is:
15. Which of the following debentures is transferred by transfer deed only:
16. If there is any balance in Debenture Redemption Fund, that will be transferred to:
17. Profit on cancellation of debentures is transferred to:
18. Debenture-holders are entitled to get _________________ at a fixed rate.
19. Debentures can be redeemed out of:
20. When an underwriter makes an agreement to take a certain number of shares, it is called:
21. Pre-incorporation loss must be transferred to:
22. For what purpose the pre-incorporation profits are used:
23. Underwriting agreement in made to–
24. Underwriting commission may be paid in the issue price of shares @–
25. Maximum limit of brokerage on all type of public issues is–
26. When the investment banker bears the risk of not being able to sell a new security at the established price, this is known as:
27. Amalgamation takes place with the objective of–
28. Excess of purchase consideration over net assets is called-
29. As per AS-14, purchase consideration is payable to–
30. The situation of formation of one company and liquidation of more than one company is known as ____________.
31. Which one of the following does not relate to Profit and Loss Appropriation A/c?
32. Which of the following does not include the divisible profits?
33. Employee provident fund is a:
34. Dividend is calculated on:
35. Which section of the Companies Act contains the provisions regarding overall managerial remuneration?
36. Which section of the Companies Act contains the provision regarding part-time director?
37. Which one of the following items is not included in the managerial remuneration?
38. In case there is only one whole-time director in a company, maximum remuneration payable to director will be …………………of the net profit calculated u/S 349.
39. If a company acquires the controlling interest in another company, it is called……………….company.
40. On the acquiring of shares in the subsidiary company, the holding company credits the banks account and debits……………….account.
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