Class XII

Excess money received on application should be utilized first on:
  1. Excess money received on application should be utilized first on:
  2. Calls only
  3. Premium
  4. Allotment
_________ Shares are issued by a company to its employees or directors for their hard work and dedication towards the company.
  1. Sweat Equity Shares
  2. Bonus Shares
  3. Employees Stock Option Scheme
  4. Only Preference Shares
For which of the following purpose, securities premium reserve cannot be used?
  1. Working capital
  2. Issuing fully paid bonus shares to the shareholders
  3. Writing off preliminary expenses
  4. Buy back of shares
Entry for reissue of forfeited shares at discount will be
  1. Bank A/c Dr. Share Forfeiture A/c Dr. To Share Capital A/c
  2. Share Capital A/c Dr. Share Forfeited A/c Dr. To Bank A/c
  3. Bank A/c Dr. To Share Capital A/c
  4. Bank A/c Dr. Share Capital A/c Dr. To Share Forfeited A/c
Following Entry takes place when: Bank A/c Dr. To Share Application A/c
  1. Application money is refunded
  2. Application money is received
  3. Application money is adjusted
  4. Both Application money is adjusted and Application money is refunded
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LKG - 12th

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