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2. If the price paid by the holding company for the shares acquired in
the subsidiary company is more than the intrinsic value of the shares
acquired, the difference is treated as .
6. Profit and Loss Appropriation Account shows the of the net
profit as disclosed by the Profit and Loss Account proper.
7. Balance sheet of a company shall be prepared in the form set out in
Part and profit and loss account of a company shall comply with
the requirements of Part of Schedule of the Companies Act,
1956.
d. The bonus issue is not made unless the party-paid shares, if any
existing, are made fully paid-up.
11. The rule regarding issue of dividend out of previous year profit is :
the total amount to be drawn from the accumulated profits earned in
previous year(s) transferred to the reserves shall not exceed an
amount equal to of the sum of its paid-up capital and free
reserves and the amount so drawn shall first be utilised to set-off the
losses incurred in the financial year before any dividend in respect of
preference or equity shares is declared; and the balance of reserves
after such draw shall not fall below of its paid-up share capital.
12. In marginal costing are taken into account for computing the
value of stocks of work-in-progress and finished products.
13. In marginal costing the unit cost of a product means the average
cost of manufacturing the product.
15. When output is less than sales i.e. closing stock is less than
opening stock, the profit under marginal costing is than the profit
under absorption costing;
17. In case the company goes into liquidation, the amount paid as
calls-in-advance shall not be refundable except after the payment in
full to the
18. If forfeited shares are re-issued at a discount, the amount of
discount can, in no case, exceed the amount credited to .
20. Those share holders who don’t pay on calls, have to be given at
least day notice to the defaulting shareholder calling upon him to
pay the amount due from him together with interest before a specified
date
Answers :
1.eliminated / removed 2.Goodwill 3. Minority Interest 4. revalued.
5.Distributed profits. 6. disposal 7. I, II, VI 8. B,D,E are incorrect, rest
are all correct. 9. B and C are incorrect.
10. proportion 11. one-tenth, 15% 12. Only variable costs 13. variable
14. sales 15. greater 16. variable 17. ordinary creditors. 18. Shares
Forfeited Account 19. proportionate 20. 14 days.