Class XII

_________ 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
At the time of forfeiture of shares, with what amount share capital account will be debited, when share of Rs.20 on which Rs.16 called and Rs.12 is paid is forfeited?
  1. 12
  2. 08
  3. 20
  4. 16
Which capital is to be stated in the Memorandum of Association of a company?
  1. Called up capital
  2. Subscribed capital
  3. Issued Capital
  4. Authorised Capital
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
Which of the following statement is not true?
  1. There is no limit for securities premium
  2. Sweat Equity shares can be issued at discount
  3. Company can buy its own shares
  4. Shares can be issued at discount
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LKG - 12th

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