0000004701 00000 n Internal reconstruction. Agreement. reconstruction? wound up. (a) Profit (b) Loss (a)No Profit-No Loss (a) nil 5. In case of Internal Reconstruction , the company is. In internal reconstruction, the existing company will be . The scheme of internal reconstruction can be utilized to provide ____________ for the company.a) funds b) share capital c) dividend d) none of the above, 16. Merger Buyout Joint Venture De-merger 23Which merger involves firms engaged in unrelated types of activities? endstream endobj 72 0 obj <>stream HQJo.& ;&|&LZ$w$\bRp|)oG@4}=& C8Yn*]izM6fVjAVjEM'#Y+Lx4=_TZ%x9GbmiH2y2R Accounting Standard for amalgamation is: AS-3 AS-9 AS-12 AS-14 (AS-14 deals with accounting for amalgamation) Answer :- AS-14 (AS-14 deals with accounting for amalgamation) 2. according to AS - 14, purchase consideration is the sum of payments made to the: Debenture holders and Shareholders Shareholders It is a case of, 8. 500000. b) X Ltd. Having a share capital of Rs. For writing off the accumulated Josses under the scheme of capital reduction, we debit, 6. A company must pass a special resolution for reduction of capital. 0000005402 00000 n Accounting for Amalgamation, Absorption and External. No journal entry is required for cancellation of unissued share capital. a) authorized capital b) Called up capital c) Uncalled capital A company resorts to internal reconstruction or capital reduction only in exceptional circumstances. Download PDF. It decides to convert its capital into 20,000 equity shares of Rs. 0000001534 00000 n Any loss on revaluation of the assets at the time of internal reconstruction, will be charged from. Save my name, email, and website in this browser for the next time I comment. McqMate.com is an educational platform, Which is developed BY STUDENTS, FOR STUDENTS, The only 10 each fully paid. Amalgamation, Absorption & External reconstruction Multiple Choice Questions 1. 500000 divided into 5000 shares of Rs. 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 AM$|?F9 UY HUn9}om # 100 each, converts it into stock. 0000006175 00000 n 3. 0000007752 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) 2. c) X Ltd. Having a share capital of Rs. Ans: c) Capital Reduction. 26. If the ABC Limited and DEF Limited are taken over by a new company XYZ Limited 20. Internal Reconstruction is also known as Capital Reduction. 100 each, subdivided the shares into 50000 shares of Rs. startxref Under which of the following circumstances can a company resort to internal The term Internal Reconstruction means: 7. It decides to convert its capital into 20,000 equity shares of Rs. The word And Reduced is added to the name of the company for such period as the court deems fit. Accounting for Internal Reconstruction. The full balance of capital is to be debited, if _____________ value is reduced. 500000 divided into 5000 shares of Rs. 0000009547 00000 n 55 0 obj <>stream Equity share capital A/c Dr. 500000, Equity Stock A/c Cr. capital reduction A/C is transferred to : After the implementation of scheme of internal reconstruction, any amount left in the hb```f``c`e`icd@ Ar400kPQ{!{GGCG+CP q #s*m,f.HfEZX7``~d1/s ` ! Amount sacrificed by shareholders are credited to: 13. It is a case of, Answer :- Reducing share capital by returning the excess capital, 5. 0000000756 00000 n 0000000016 00000 n Share Capital A/c (100) Dr. 500000, Share Capital A/c (10) Cr. 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. Accounting for Internal Reconstruction Multiple choice questions and answers. 11. 0000008674 00000 n The word And reduced cannot be added to the name of the company if no direction has been given by the court. Let's take a quick look at the CA Inter Course before diving into the specifics of the ICAI CA Inter Mcq Notes 2022. A brain-computer interface that decodes continuous language from non-invasive recordings would have many scientific and practical applications. 500000 divided into 50000 shares of Rs. gHc > &E]`v6DVMH HOf`a)XL?o D It is a case of: (i) Reducing share capital by returning the excess capital, (ii) Reducing the liability on account of uncalled capital. 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 capital reduction A/C is transferred to : 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. If there is any balance in the capital reduction account after writing off all the accumulated losses, then the same is transferred to , 7. The Shareholders can surrender shares for ________ or ____________ .a) re-issue, cancellation b)Fresh Issue, Redemption c) none of the above, 5. In case of , one existing company takes over the business of another company and no new company is formed (a) 1 (b) 2 (a)3 (a) many 4. endstream endobj startxref 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. 500000 divided into 5000 shares of Rs. /FV.)|[%;$3 >% LMhLI3kve^v2zWl:{ eM>"2+hY$Jddt'i;|` 11. Here we are providing Notes , MCQs , Question Bank , Notes on Current Affairs & Many More. We provide you study material i.e. 25. The word And reduced cannot be added to the name of the company if no direction has been given by the court. Consent of creditors is required if capital reduction involves diminution of liability regarding uncalled capital or return of paid up capital. 16. Redemption of preference shares is a case of capital reduction. Accounting for Internal Reconstruction [Set 1] PDF, Accounting for Amalgamation, Absorption and External, Chapter: Accounting for Internal Reconstruction. %PDF-1.5 % __________ 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. 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 Internal Reconstruction MCQ MCQs on other topics of Financial Accounting Cost Accounting MCQs pdf 1. HT=s0+8xDmC?AX9jbN:w)Pgj!V-[._ KDaTJj1~' When an existing company takes over the business of one or more existing companies, it is called. throughout their Academic career. c) Super Profit. 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. The fictitious debit balances are to be transferred to ___________ Account.a) internal reconstruction b) security premium c) share capital d) Capital Reduction, 9. endstream endobj 26 0 obj <>stream Consent of creditors is required if capital reduction involves diminution of liability regarding uncalled capital or return of paid up capital. Company Final Accounts. 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. 0000001960 00000 n Company Liquidation Accounts. Computerized Accounting Practices. After the implementation of scheme of internal reconstruction, any amount left in the capital reduction A/C will be transfer to: For amalgamation in the nature of merger, the shareholders holding at least or more of the equity shares of the transferor company becomes the equity shareholders of the transferee company. 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 . Shareholders not approving scheme is called _________ shareholders.a) dissenting b) paying c) pay disentient shareholders d) none of the above, 13. The scheme of internal reconstruction involves ___ company. Accounting for Internal Reconstruction. 100 each, subdivided the shares into 50000 shares of Rs. 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. 7) Post-acquisition Profit is a) Capital Profit. 5 fully paid. objective of our platform is to assist fellow students in preparing for exams and in their Studies 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. Under Sec. No journal entry is required for cancellation of unissued share capital. Reduction of capital is unlawful except when sanctioned by the court. 10 each fully paid decides to repay Rs. 59 0 obj <> endobj We provide you study material i.e. 59 23 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) face b) market c) both of a & b d) none of the above 12. 500000, Micro Economics Notes and Important Questions, Reducing share capital by returning the excess capital, Reducing the liability on account of uncalled capital.
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