Class 12th accountancy notes

Q10/10: Which account is credited with the amount already paid when shares are forfeited?

Q9/10: The registered capital of a company is also known as:

Q8/10: Discount on issue of debentures is classified as a:

Q7/10: Interest on debentures is paid at:

Q6/10: Debentures represent which of the following for a company?

Q5/10: Securities Premium Reserve can be legally utilized for:

Q4/10: What is the minimum subscription required before a company can proceed to allot shares?

Q3/10: The maximum number of members in a private company is limited to:

Q2/10: What is the minimum number of members required to form a public company?

Q1/10: Which of the following is not a characteristic of a company?

Q10/10: Assertion (A): Partner's Current Accounts are closed by transferring their balances to Partner's Capital Accounts on dissolution. Reason (R): All accounts representing partner's interest must be consolidated.

Q9/10: At the time of dissolution, an unrecorded liability of Rs 10,000 is settled by handing over an unrecorded asset of Rs 12,000. The entry is:

Q8/10: A firm has debtors of Rs 50,000 and provision for doubtful debts of Rs 5,000. On dissolution, the entire debtors are transferred to Realisation A/c at what amount?

Q7/10: The final debit balance of the Realisation Account indicates:

Q6/10: Workmen Compensation Fund appearing in the balance sheet, if there is no liability, is transferred to:

Q5/10: When a partner takes over an asset of the firm on dissolution, the accounting entry involves debiting:

Q4/10: Assertion (A): A partner's loan to the firm is paid before the outside liabilities on dissolution. Reason (R): Partners have priority over third parties in payment.