Accountancy MCQ Class 12 Chapter 6: Check the below NCERT MCQ Questions for Accountancy MCQ Class 12 Chapter 6 with Answers Pdf free download. Accountancy MCQ Class 12 Chapter 6 Questions for Accountancy with Answers were prepared based on the latest exam pattern. We have provided Accountancy MCQ Class 12 Chapter 6 with Answers to help students understand the concept very well.

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Accountancy MCQ Class 12 Chapter 6

1. Forfeiture of shares results in the reduction of______.
(a) Paid-up capital
(b) Authorised capital
(c) Fixed assets
(d) Reserve capital

2. When a company issues fully paid shares to promoters for their services, the journal entry will be:
(a) Bank A/c Dr.
To Share Capital A/c
(b) Good will A/c Dr.
To Share Capital A/c
(c) Promoters Personal A/c Dr.
To Share Capital A/c
(d) Promotion Expenses A/c Dr.
To Share Capital A/c

3. When a company issues shares at a premium, amount of premium may be received by the company :
(a) Along with application money
(b) Along with application money
(c) Along with calls
(d) Along with any of the above

4. Discount allowed on the reissue of forfeited shares is debited to ______.
(a) Share capital A/c
(b) Share forfeiture A/c
(c) Profit and loss A/c
(d) General reserve A/c

5. Share Application Account is :
(a) Personal Account
(b) Real Account
(c) Nominal/ Account
(d) None of these

6. Shares can be forfeited ________.
(a) For failure to attend meetings
(b) For non-payment of call money
(c) For failure to repay the loan to the bank
(d) For which shares are pledged as a security

7. Secrities Premium can not be applied :
(a) For paying dividend to members
(b) For issuing bonus shares to members
(c) For writing off preliminary expenses of company
(d) For writing off discount on issue of debentures

8. An issue of shares that is not a public issue but offered to a selected group of persons is called _______.
(a) Public offer
(b) Private placement of shares
(c) Initial public offer
(d) None of the above

9. Reserve capital means :
(a) A part of subscribed uncalled capital
(b) Reserve Profit
(c) A part of Capital Reserve
(d) A part of Capital Redemption Reserve

10. When shares are forfeited, the share capital account is debited with ______.
(a) Nominal value of shares
(b) Market value of shares
(c) Called-up value of shares
(d) Paid-up value of shares

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