internal reconstruction mcq

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Internal Reconstruction is also known as Capital Reduction. vt00 Let's take a quick look at the CA Inter Course before diving into the specifics of the ICAI CA Inter Mcq Notes 2022. MULTIPLE CHOICE QUESTIONS 1. %PDF-1.5 % /FV.)|[%;$3 >% LMhLI3kve^v2zWl:{ eM>"2+hY$Jddt'i;|` more mcqs. If there is any balance in the capital reduction account after writing off all the accumulated losses, then the same is transferred to: 8. JD%@"i0iB*c`EX 59 0 obj <> endobj Ans: c) Capital Reduction. 0000002299 00000 n Companies may combine in following ways (i) absorption (ii) amalgamation (iii) external reconstruction (iv) internal reconstruction (v) merger (a) any of above (b) none of above (c) any except (iv) (d) any except (v) Latest Reconstruction of companies MCQ Objective Questions Top Reconstruction of companies MCQ Objective Questions Exam Preparation Simplified Learn, practice, analyse and improve Get Started for Free Download App Trusted by 3.9 Crore+ Students Related MCQ Merger& Amalgamation MCQ Exams TNPSC Group 1 TNPSC Group 2 RRB Group D RRB NTPC 5 fully paid. Only unsuccessful companies undertake capital reduction. c) X Ltd. Having a share capital of Rs. endstream endobj 72 0 obj <>stream 0000001960 00000 n 81 0 obj <>stream 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. 0000000756 00000 n State whether the following statements are True or False: According to sec. In a scheme of reorganisation amount of shares surrendered by shareholders is transferred to: 13. %%EOF 0000008674 00000 n 11. 500000 divided into 5000 shares of Rs. 0000003198 00000 n Question 2. Currently, however, non-invasive language decoders . 22. Amalgamation. c) Super Profit. 3. MCQ on Amalgamation and External Reconstruction - CMA TUTORS Q. 1. 5 each. Internal reconstruction Definition & Meaning | Dictionary.com The scheme of internal reconstruction involves ___ company. Merger Buyout Joint Venture De-merger 23Which merger involves firms engaged in unrelated types of activities? 30 seconds. 500000 divided into 50000 shares of Rs. throughout their Academic career. Accounting for Internal Reconstruction Solved MCQs - McqMate Consent of creditors is required if capital reduction involves diminution of liability regarding uncalled capital or return of paid up capital. Corporate Accounting Multiple Choice Questions and Answers, Mumbai University B.Com - MCQs, Exam MCQs and Solved Papers, Auditing MCQs Multiple Choice Questions and Answers | Auditing MCQs For B.Com, CA, CS and CMA Exams, Management Accounting MCQs [Multiple Choice Questions and Answers], MCQ On Budget and Budgetary Control | Multiple Choice Questions and Answers, MCQ on Accounts of Holding Companies [Multiple Choice Questions and Answers], Corporate Accounting Multiple Choice Questions and Answers (MCQs) | Company Accounts MCQs. Follow me on YouTube - Dynamic Tutorials and Services. Reduction of capital is unlawful except when sanctioned by the court. J%7uI 8vjYZOM}r,2s.Z 'Xj:8A3v8^X.x=a4$ M.A EXAM :- https://t.me/mastudentsexam, https://www.youtube.com/channel/UCv8JIY58xfWHUIXVu9wxNHw. 0000009547 00000 n 0000006175 00000 n Redemption of preference shares is a case of capital reduction. Download PDF. Section 66 of the companies Act governs the internal reconstruction. 0000003520 00000 n It is a case of, Answer :- Reducing share capital by returning the excess capital, 5. (C) Internal reconstruction (B) Absorption (D) External reconstruction While calculating purchase price, the following values of assets are considered Book value (C) Average values (B) Revised Value (D) Market values Shares received from the new company are recorded at - Face value (C) Market value (B) Average price I am also working on some other websites which will be published soon. Download PDF. No journal entry is required for cancellation of unissued share capital. in Bangalore here: Software Service According to sec. Corporate Accounting MCQ Question Bank Reconstruction of Companies. Ixdp]A:DKp 7>+^wsvKC?0c oLm7{ V[H,Q~$agt8O4js_22Q|Waoq\WU In case of sub-division of share capital the total number of shares: 2. 500000. b) X Ltd. Having a share capital of Rs. Multiple Choice Questions 1)Voluntary winding up: a)If period fixed for the company is expired. xb```"WV AX,p}GynByz||kWU]{KYD$9#c'{-(&P!M cE.IJdKyAJR'![FQ[[F,r8|m5@+@nh``@P,@0yl Taken over. In which of the following cases, procedure of reduction of capital is not called for: (iii) Surrender of shares or gift of shares. Internal Reconstruction | Specialty Quiz - Quizizz Internal reconstruction is done due to .. 0000001534 00000 n 0000001427 00000 n a) X Ltd. Having a share capital of Rs. answer choices. 8) Pre-acquisition profit is a) Capital Profit. 0000005402 00000 n McqMate.com is an educational platform, Which is developed BY STUDENTS, FOR STUDENTS, The only 30 seconds. PDFs for offline use. We take free online Practice/Mock test for exam preparation. Each MCQ is open for further discussion on discussion page. All the services offered by McqMate are free. Any loss on revaluation of the assets at the time of internal reconstruction, will be charged from. 100 each. 100 each, converts it into stock. objective of our platform is to assist fellow students in preparing for exams and in their Studies Internal Reconstruction MCQ (Free) | Capital Reduction In case of , one existing company takes over the business of another company and no new company is formed A Ltd. with a share capital of 10,000 equity shares of Rs. 780+ Corporate Accounting Solved MCQs with PDF Download - McqMate PDF Amalgamation, Absorption & External reconstruction - NKT Degree College Win vouchers worth INR 2,000 with our School Referral Program, Ranked Amongst Top 25 Companies by LinkedIn. The objective of reconstruction is to write off ___________ .a) profit b) accumulated losses c) nil d) none of the above, 18. 10 each. Internal Reconstruction MCQ (Free) | Capital Reduction September 29, 2021 11. 18. Internal Reconstruction - Commerceiets Absorption. Accounting for Internal Reconstruction Multiple choice questions and answers. Eliminate the accumulated losses from the books. 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. endstream endobj 23 0 obj <> endobj 24 0 obj <> endobj 25 0 obj <>stream 5. The reduction of capital is permitted under _____________ of Companies Act.a) 77 b) 100 c) 66 d) 75, 2. Appreciation in the value of land & building is recorded on ________ side of Capital Reduction Account.a) credit b) debit c) both of a & b d) none of the above. AMALGAMATION, ABSORPTION & EXTERNAL RECONSTRUCTION - Quiz 10. PDF Chapter - 1 : Amalgamation, Absorbtion and External Reconstruction (As 15. 0000009805 00000 n t Mprq*8)i(jm8d^zmMNX3t;(e\96!w )?=jp- ]CDH-bf>~Ji}KZw]w#@tf;:HKGr?(1bXT)"Awtt,fs6og2~7Q{T! %@dJQap8?|K( q?$T0!8aq{e_>)I/` # When two or more companies carrying on similar business decide to combine, a new company is formed, it is known as (A) Amalgamation (B) Absorption (C) Internal reconstruction (D) External reconstruction Merged with another co. Our website uses cookies to improve your experience. Multiple Choice Questions and Answers 1. Irk#nf`S_Jlhf6+xx?$UZ$yZ}opP~ fCJ[1[nS+\M]_pOgut9qiWb|Tr@r`Xj 8p2_7y#@DZpNS80dJ^3S2RzP3;! Amount sacrificed by shareholders are credited to: 13. 25. a) dissenting b) paying c) pay disentient shareholders The Capital reduction means reduction in ____________ value of shares.a) authorized capital b) Called up capital c) Uncalled capital d) paidup value, 3. 0000001160 00000 n 23. 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 . Capital Reduction Account is ________ by payment of reconstruction expenses.a) credited b) debited c) Cash Account d) none of the above, 17. 100 each, subdivided the shares into 50000 shares of Rs. I am Gold educator on teachmint online live classes app, I am Post Graduate from Commerce and Direct Course of Law, We have provide all courses of Commerce as well as banking and IBPS Competitive exam Course and also provide Tally Erp 9 + GST Module at offline Training mode. 5 per share thus making each share of Rs. b) Revenue Profit. Multiple Choice Questions. reconstruction? The Capital reduction means reduction in ____________ value of shares. xref capital reduction A/C will be transfer to: Business Ethics and Corporate Social Responsibility (BECSR). Company Liquidation Accounts. AM$|?F9 UY Get the essential details like: The number of papers The frequency of exams The manner of registration and exams, Eligibility, Exemptions, and Exam Dates For ICAI Ca Inter May 2022. 0000002930 00000 n 7) Post-acquisition Profit is a) Capital Profit. It is a case of, 9. answer choices. 19. Cancellation of unissued capital is also a case of capital reduction. 26. Attend Live Classes using Any Device be it Phone, Tablet or Computer, 5th Floor, North Wing, SJR In which of the following cases, procedure of reduction of capital is not called for: 11. Checkout Top Schools 100 each, converts it into stock. A brain-computer interface that decodes continuous language from non-invasive recordings would have many scientific and practical applications. Vertical Horizontal Conglomerate Demerger The cancellation of contingent liability is____ for company. PDF INTERNAL RECONSTRUCTION - sgp1.digitaloceanspaces.com 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 b) Absorption. The word And reduced cannot be added to the name of the company if no direction has been given by the court. 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. If the creditors are willing to reduce their claims against the company, (hen the amount of reduction in their claim will be transferred to, 10. 94 of the companies act, a limited company can increase, sub-divide or consolidate all or part of its existing share if authorised by its articles of association. 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. Hn0w?Gr "% 2t0 100 each, subdivided the shares into 50000 shares of Rs. Accounting for Internal Reconstruction [Set 1] PDF, Accounting for Amalgamation, Absorption and External, Chapter: Accounting for Internal Reconstruction. 31) Reconstruction includes all of the following except 32) . 0000003758 00000 n HT=s0+8xDmC?AX9jbN:w)Pgj!V-[._ KDaTJj1~' Court Confirmation Order has to be registered with the __________ of companies.a) NCLT b) share capital c) Registrar d) none of the above, 19. throughout their Academic career. A Ltd. with a share capital of 10,000 equity shares of Rs. The Sub division of shares does not result in ___________ of capital.a) reduction b) added c) Compromise d) none of the above, 4. more mcqs. If there is any balance in the capital reduction account after writing off all the accumulated losses, then the same is transferred to , 7. T.Y.B.com Financial Accounting mcq with answers - Suraj Patel Education 10 each fully paid. a) authorized capital b) Called up capital c) Uncalled capital Save my name, email, and website in this browser for the next time I comment. |:a=Z&v)kgAN"6]tBzy!NS Redemption of preference shares in accordance with the provisions of section 80 is reduction of preference share capital. 10 each, consolidated the shares into 5000 shares of Rs. Question and answers in Accounting for Internal Reconstruction. 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. 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 Main aim of this blog is to provide all academic resources and information's especially for Commerce Stream Students. (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. __________ resolution is to be passed by shareholders for approval of scheme of reconstruction.a) ordinary b) Special c) both a & b d) none of the above, 8. endstream endobj startxref 10 each, consolidated the shares into 5000 shares of Rs. It decides to convert its capital into 20,000 equity shares of Rs. 64 of the Companies Act, 2013 the company shall give notice of the alternation of capital to the registrar within 45 days. 10 each fully paid decides to repay Rs. 0000000016 00000 n b) Revenue Profit. Friends ye artical ke alava other subject Ke bhi article aapko mere website per mil jaenge jiska link me aapko niche de raha hu. Valuation of Shares. 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. Consent of creditors is required if capital reduction involves diminution of liability regarding uncalled capital or return of paid up capital. In a scheme of reorganization amount of shares surrendered by shareholders is transferred to: 12. Cancellation of unissued capital is also a case of capital reduction. The term Internal Reconstruction means: 7. Reduction of capital is unlawful except when sanctioned by the court. Companies may combine in following ways (i) absorption (ii) amalgamation (iii)external reconstruction (iv)internal reconstruction (v) merger (a) any of above (b) none of above (c) any except (iv) (d) any except (v) 2. 0 Here we are providing Notes , MCQs , Question Bank , Notes on Current Affairs & Many More. endstream endobj 26 0 obj <>stream 21.Only unsuccessful companies undertake capital reduction. Computerized Accounting Practices. PDF Amalgamation, Absorption & External reconstruction - NKT Degree College 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. 500000 divided into 5000 shares of Rs. All rights reserved. objective of our platform is to assist fellow students in preparing for exams and in their Studies McqMate.com is an educational platform, Which is developed BY STUDENTS, FOR STUDENTS, The only 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 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. HQJo.& ;&|&LZ$w$\bRp|)oG@4}=& C8Yn*]izM6fVjAVjEM'#Y+Lx4=_TZ%x9GbmiH2y2R In internal reconstruction neither the existing company is liquidated, nor is a new company incorporated. #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. When an existing company takes over the business of one or more existing companies, it is called. In internal reconstruction, increase in the value of fixed assets is credited to. Holding Company Accounts. %%EOF Company Final Accounts. Restructuring Internal Reconstruction 22 State an arrangement whereby the assets of two ro more companies come under the control of one company? When a company converts its equity shares into the capital stock, then the account to be credited is: 4. We would like to show you a description here but the site won't allow us. 4~"\ Internal Reconstruction - Advanced Accounting - MCQ Test - Teachmint The reduction of capital is permitted under _____________ of Companies Act. Forfeiture and Surrender of shares is a case of capital reduction. hVN;?*:_ TYBCom-Sem-VI-Financial Accounting MCQs - Studocu The full balance of capital is to be debited, if _____________ value is reduced. Internal Reconstruction - Advanced Accounting - MCQ Test - Teachmint Test Details Internal Reconstruction All the best Starts Feb 02, 6:00 PM Duration 15 minutes Deadline Feb 02, 9:00 PM Maximum marks 20.0 marks Question type MCQ Total questions 10 questions Like Share 32 Views Kishor Suryawanshi Company Liquidation Accounts. U,]]. 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 . 10 each fully paid. MCQ - Internal Reconstruction and Capital Reduction | Multiple Choice In internal reconstruction, methods of calculation of purchase consideration is 33) Methods of capital reduction 34) While preparing Balance Sheet after reconstructed following points are to be kept in mind 35) 6. PDFs for offline use. We take free online Practice/Mock test for exam preparation. Each MCQ is open for further discussion on discussion page. All the services offered by McqMate are free. Important Links: c) Capital Reduction. The scheme of internal reconstruction requires approval of ____________ .a) Shareholders b) Central Government c) NCLT d) all the above, 7. CORPORATE ACCOUTNING ( MCQS WITH ANWERS) - Studocu It is a case of: (i) Reducing share capital by returning the excess capital, (ii) Reducing the liability on account of uncalled capital. PDF Sample Questions For B.Com. ( Accounting & Finance) -Sem V 2019-2020 Agreement. The fictitious debit balances are to be transferred to ___________ Account.a) internal reconstruction b) security premium c) share capital d) Capital Reduction, 9. Share Capital A/c (10) Dr. 500000. c) X Ltd. Having a share capital of Rs. 6) Internal reconstruction means a) Amalgamation in nature of merger. Ans: a) Capital Profit. In case of sub-division of share capital the total number of shares Increases Decreases Does not change. 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. Hey Guys, Myself Kumar Nirmal Prasad, a Teacher turned Full time Blogger and Investor. :u4$L"G0cOpe"MH3SIoIe?+-;YH1k G@bV+o hbbd```b``"A$v 10 each fully paid decides to repay Rs. Accounting procedure when internal reconstruction made 36) 7. 500000 divided into 5000 shares of Rs. a) 77 b) 100 c) 66 d) 75 2. We provide you study material i.e. In internal reconstruction, the existing company will be In case of sub-division of share capital the total number of shares, 2. To carry out capital reduction, permission is required from: 14. 0000004701 00000 n Internal Reconstruction and Capital Reduction Notes, Corporate Under which of the following circumstances can a company resort to internal reconstruction? b) X Ltd. Having a share capital of Rs. In internal reconstruction, amount sacrificed by shareholders are Copyright 2023 McqMate. Learn more. 0000031742 00000 n #2 MCQ for TYBCOM Sem 5 - Internal Reconstruction MCQ's - Financial AccountingThis lecture series contains all the MCQs related to TYBCOM Sem 5 - Financial AccountingFinancial Accounting MCQs Link:https://scholarsclasses.com/blog/preparation-of-final-accounts-of-companies-mcq/TYBCOM Sem 5 MCQs Link:https://scholarsclasses.com/blog/tybcom-sem-5-mcq/TYBCOM Sem 5 MCQs Lecture link:https://youtube.com/playlist?list=PLJ_81_DlRlyfEuIryW3MX4GvicwzWkHLKPlease like, share, and subscribeVideo Presented by :Prof. Tauseef Khan (M.Com, MBA, UGC - NET)Follow us on :Facebook: https://www.facebook.com/tauseef89/Twitter: https://twitter.com/tauseef_sirInstagram: https://www.instagram.com/tauseefsirVisit our websitehttps://www.scholarsclasses.com/blog#scholarszilla#tybcommcq#tauseefsir Bring down the assets to their true values. Under Sec. GUD}%DQO}$m|@}L*#{`g5fd4"b~d|{\?1>c:-G $}gKYVAAy)>uvH/4SPHl"@@9HI,+XP f!M7fNG/_M=,(\q #d5*-1Kv 1,G( 4^:SiOfuN7"z~7~D`K773QspCMcJ|H"#6 r+i7.eW>Q3 sT 2g3O\b ^_T_ET_[JD=+x[oct;GYO|T-"['SRt~"7f The word And Reduced is added to the name of the company for such period as the court deems fit. The expenses for forming and implementing scheme should be debited to ____________ .a) security premium b) share capital c) Internal reconstruction d) capital reduction, 15. Bachelor of Business Administration (BBA). 0 ] Copyright 2023 McqMate. Accounting for Amalgamation, Absorption and External. In ____________ , no new company is formed.a) External reconstruction b) Amalgamationc) internal reconstruction d) none of the above, 20. When two or more existing companies combine together to form a new company, it is termed as. 5 fully paid. 1)66 2)paidup value 3)reduction 4)re-issue, cancellation 5)assets and liabilities 6)NCLT 7)Special 8)Capital Reduction 9)Capital Reduction 10)capital reduction or internal reconstruction, HSC Question Paper 2023 12th Commerce (Download Free pdf), HSC OCM Paper 2023 March Maharashtra Board | Download Free Pdf, HSC SP Paper 2023 March Maharashtra Board | Download Free Pdf, HSC Hindi Paper 2023 March Maharashtra Board | Download Free Pdf, HSC English Paper 2023 March | Download Free Pdf, 11th OCM Chapter 8 Exercise (Introduction to Management) Maharashtra Board Free Resource, 11th OCM Chapter 7 Exercise (Business Environment) Maharashtra Board Free Resource, MCQs on other topics of Financial Accounting, Financial Accounting Mcqs | More Than 700 Free MCQs, 12th SP Chapter 6 Solution (Correspondence with Members) Maharashtra Board Free Solution. 0000040014 00000 n Internal Reconstruction of Company Capital Restructuring MCQs Amount sacrificed by shareholders are credited to: 14. 0000007752 00000 n s endstream endobj 71 0 obj <>stream When two or more companies carrying on similar business decide to combine, a new company is formed, it is known as (A) Amalgamation (B) Absorption (C) Internal reconstruction (D) External reconstruction 2. A company must pass a special resolution for reduction of capital. Virtual Classroom and LMS Software | WizIQ Turn around. MCQ on Internal Reconstruction : Multiple choice questions and answers December 18, 2021 by Abhimaynu Multiple choice questions and answers 1. Download CA Inter Notes Pdf May 2022 - CA Test Series For writing off the accumulated Josses under the scheme of capital reduction, we debit: 6. 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. Reconstruction is a process by which affairs of a company are reorganized by revaluation of assets, reassessment of liabilities and by writing off the losses already suffered by reducing the paid up value of shares and/or varying the rights attached to different classes of shares. Internal reconstruction result in the reduction of the capital of the company. Any loss on revaluation of the assets at the time of internal reconstruction, will be charged from. 10 each. The word And reduced cannot be added to the name of the company if no direction has been given by the court.