hTA0>C. 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. Alteration of share capital can be affected by passing an ordinary resolution. vt00 In case of sub-division of share capital the total number of shares, 2. AM$|?F9 UY
Download PDF. In case of Internal Reconstruction payment of contingent liability is debited to a) Profit & Loss A/c b) Capital Reduction A/c c) Realisation A/c d) Other 53) Any gain on payment of liability under External Reconstruction is credited to 0000009547 00000 n
500000 divided into 5000 shares of Rs. Download PDF. If the creditors are willing to reduce their claims against the company, (hen the amount of reduction in their claim will be transferred to, 9. Agreement. Accounting for Internal Reconstruction. Ixdp]A:DKp
7>+^wsvKC?0c oLm7{
V[H,Q~$agt8O4js_22Q|Waoq\WU The cancellation of contingent liability is____ for company. The word And reduced cannot be added to the name of the company if no direction has been given by the court. McqMate.com is an educational platform, Which is developed BY STUDENTS, FOR STUDENTS, The only objective of our platform is to assist fellow students in preparing for exams and in their Studies Copyright 2023 McqMate. In internal reconstruction, the existing company will be . In which of the following cases, procedure of reduction of capital is not called for: (iii) Surrender of shares or gift of shares. 0000008674 00000 n
In a scheme of reorganisation amount of shares surrendered by shareholders is transferred to: 13. Internal Reconstruction MCQ (Free) | Capital Reduction September 29, 2021 11. U,]]. Accounting procedure when internal reconstruction made 36) 7. When two or more existing companies combine together to form a new company, it is termed as. It is a case of, 9. A scheme of __________ or __________ mean the scheme having same effect.a) capital reduction or internal reconstruction b) Capital Reduction or External reconstructionc) none of the above. 0000009805 00000 n
In ____________ , no new company is formed.a) External reconstruction b) Amalgamationc) internal reconstruction d) none of the above, 20. 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 . Q. a) 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. External reconstruction. All rights reserved. J%7uI 8vjYZOM}r,2s.Z 'Xj:8A3v8^X.x=a4$ Accounting for Amalgamation, Absorption and External. 500000. b) X Ltd. Having a share capital of Rs. Corporate Accounting MCQ Question Bank Reconstruction of Companies. startxref
It is a case of, Answer :- Reducing share capital by returning the excess capital, 5. Company Liquidation Accounts. %PDF-1.5
%
It is a case of, 8. Multiple Choice Questions. Suraj Patel Education is one of the best blog on Education . 0000003758 00000 n
31) Reconstruction includes all of the following except 32) . Company Final Accounts. Company Final Accounts. 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. Turn around. 100 each, subdivided the shares into 50000 shares of Rs. Reduction of capital is unlawful except when sanctioned by the court. 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. 81 0 obj
<>stream
endstream
endobj
26 0 obj
<>stream
The expenses for forming and implementing scheme should be debited to ____________ .a) security premium b) share capital c) Internal reconstruction d) capital reduction, 15. 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. Copyright 2023 McqMate. Cancellation of unissued capital is also a case of capital reduction. wound up. In case of loss maximum remuneration is Rs.6 Lakhs in case effective capital is less than (a) 5Cr (b) 1Cr (a)25Cr (a) 50Cr 6. %%EOF
To carry out capital reduction, permission is required from: 14. 7) Post-acquisition Profit is a) Capital Profit. The Balance Sheet prepared after implementation of the scheme is to be prepared as per ____________.a) Schedule IV b) Schedule VI c) Schedule II d) Schedule III, 14. (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. 17. A Ltd. with a share capital of 10,000 equity 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: 8. If the ABC Limited and DEF Limited are taken over by a new company XYZ Limited Court Confirmation Order has to be registered with the __________ of companies.a) NCLT b) share capital c) Registrar d) none of the above, 19. Consent of creditors is not required if capital reduction involves the writing off of paid up capital lost or not represented by available assets. Our moto is to make Responsible Accountant and Employee of whichever is field whether student be like . A brain-computer interface that decodes continuous language from non-invasive recordings would have many scientific and practical applications. Number 8/2 & 9, Sarjapur Road, Bengaluru, Karnataka- 560 103. %%EOF
55 0 obj
<>stream
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. hbbd```b``"A$v 100 each. 5. Amount sacrificed by shareholders are credited to: 13. 0000001427 00000 n
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. . 1. Share Capital A/c (10) Dr. 500000. c) X Ltd. Having a share capital of Rs. After the implementation of the scheme of internal reconstruction , any surplus in capital reduction A/C is transferred to : Reduction of share capital is possible by the company, if it is authorized by its: MCQs for Related Topics Zeitgeist- Reading on Contemporary Culture . Section 66 of the companies Act governs the internal reconstruction. In internal reconstruction, amount sacrificed by shareholders are credited to.. 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 5 per share thus making each share of Rs. The video explains important mcqs on Internal Reconstruction of company #Capital Reduction #Account 0000005402 00000 n
A company is free to reduce or extinguish the uncalled liability of its members. 0000001241 00000 n
hVN;?*:_ d:b%aE2ag,jO=7^Mq*YTW%s\QQ]7,Z >cDu061`xxg]Q9*!:z5~m^&Wi=DJ?^rt3@Ey7ogblH@Pb 30 seconds. Question 2. Consent of creditors is required if capital reduction involves diminution of liability regarding uncalled capital or return of paid up capital. |4 Taken over. 10 each fully paid decides to repay Rs. 500000 divided into 5000 shares of Rs. 0000001534 00000 n
We provide you study material i.e. gHc >
&E]`v6DVMH HOf`a)XL?o D
Bachelor of Business Administration (BBA). 0000000016 00000 n
0000007752 00000 n
0000000756 00000 n
The scheme of internal reconstruction involves ___ company. A Ltd. with a share capital of 10,000 equity shares of Rs. 10 each fully paid decides to repay Rs. endstream
endobj
60 0 obj
<>
endobj
61 0 obj
<>
endobj
62 0 obj
<>/ProcSet[/PDF/Text]/ExtGState<>>>
endobj
63 0 obj
<>
endobj
64 0 obj
<>
endobj
65 0 obj
<>
endobj
66 0 obj
<>
endobj
67 0 obj
<>
endobj
68 0 obj
<>
endobj
69 0 obj
<>
endobj
70 0 obj
<>stream
Currently, however, non-invasive language decoders . 5 per share thus making each share of Rs. Holding Company Accounts. Internal reconstruction. Multiple Choice Questions and Answers (MCQs), Financial Statement and Financial Statements Analysis, MCQ on Internal Reconstruction and Capital Reduction. 59 23
61 of the companies act, 2013, a limited company can increase, sub-divide or consolidate all or part of its existing share if authorised by its articles of association.
c) Capital Reduction. objective of our platform is to assist fellow students in preparing for exams and in their Studies 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. 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 |:a=Z&v)kgAN"6]tBzy!NS 4~"\ hb```f``c`e`icd@ Ar400kPQ{!{GGCG+CP q #s*m,f.HfEZX7``~d1/s ` !
Manan Prakashan 1 CHAPTER - 1 : AMALGAMATION, ABSORBTION AND EXTERNAL RECONSTRUCTION (AS - 14) MULTIPLE CHOICE QUESTIONS. 30 seconds. Valuation of Shares. 20. It decides to convert its capital into 20,000 equity shares of Rs. Valuation of Shares. %PDF-1.4
%
The fictitious debit balances are to be transferred to ___________ Account.a) internal reconstruction b) security premium c) share capital d) Capital Reduction, 9. reconstruction? All rights reserved. 0000001160 00000 n
43 0 obj
<>/Filter/FlateDecode/ID[<7F7D86F494A1CBF23FB2925BA8566F77>]/Index[22 34]/Info 21 0 R/Length 105/Prev 125909/Root 23 0 R/Size 56/Type/XRef/W[1 3 1]>>stream
It is a case of: (i) Reducing share capital by returning the excess capital, (ii) Reducing the liability on account of uncalled capital. The Sub division of shares does not result in ___________ of capital.a) reduction b) added c) Compromise d) none of the above, 4. Amount sacrificed by shareholders are credited to: 14. Amalgamation. c) Super Profit. Share Capital A/c (100) Dr. 500000, Share Capital A/c (10) Cr. Absorption. The word And reduced cannot be added to the name of the company if no direction has been given by the court. Company Liquidation Accounts. According to sec. 18. It decides to convert its capital into 20,000 equity shares of Rs. xref
If there is any balance in the capital reduction account after writing off all the accumulated losses, then the same is transferred to , 7. 500000, Micro Economics Notes and Important Questions, Reducing share capital by returning the excess capital, Reducing the liability on account of uncalled capital. 5 fully paid. 3. Let's take a quick look at the CA Inter Course before diving into the specifics of the ICAI CA Inter Mcq Notes 2022. 11. TRpH[QU4] (kB7v 22. Hey Guys, Myself Kumar Nirmal Prasad, a Teacher turned Full time Blogger and Investor. Here we are providing Notes , MCQs , Question Bank , Notes on Current Affairs & Many More. Ans: c) Capital Reduction.
16. HyE$=T0dd$@>%o53mXe@8f2"0(#u8WLfR>|>ug2gcA9
">