Absorption. 0 ] 3. 1. <<0ABB1FF79DCA334A925490CD6BFFDF14>]>> 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. 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 HUn9}om # vt00 Internal Reconstruction | Specialty Quiz - Quizizz 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. Accounting for Internal Reconstruction Multiple choice questions and answers. According to sec. In internal reconstruction, the existing company will be Virtual Classroom and LMS Software | WizIQ 500000 divided into 5000 shares of Rs. xb```"WV AX,p}GynByz||kWU]{KYD$9#c'{-(&P!M cE.IJdKyAJR'![FQ[[F,r8|m5@+@nh``@P,@0yl Under Sec. %PDF-1.4 % more mcqs. 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Answer :- Increases 2. In internal reconstruction neither the existing company is liquidated, nor is a new company incorporated. 0000001534 00000 n 100 each, subdivided the shares into 50000 shares of Rs. 100 each. endstream endobj 60 0 obj <> endobj 61 0 obj <> endobj 62 0 obj <>/ProcSet[/PDF/Text]/ExtGState<>>> endobj 63 0 obj <> endobj 64 0 obj <> endobj 65 0 obj <> endobj 66 0 obj <> endobj 67 0 obj <> endobj 68 0 obj <> endobj 69 0 obj <> endobj 70 0 obj <>stream 43 0 obj <>/Filter/FlateDecode/ID[<7F7D86F494A1CBF23FB2925BA8566F77>]/Index[22 34]/Info 21 0 R/Length 105/Prev 125909/Root 23 0 R/Size 56/Type/XRef/W[1 3 1]>>stream 0 It decides to convert its capital into 20,000 equity shares of Rs. In internal reconstruction, amount sacrificed by shareholders are No journal entry is required for cancellation of unissued share capital. 5 fully paid. We provide you study material i.e. A Ltd. with a share capital of 10,000 equity shares of Rs. The Shareholders can surrender shares for ________ or ____________ .a) re-issue, cancellation b)Fresh Issue, Redemption c) none of the above, 5. 0000007752 00000 n Ans: b) Revenue Profit. [Solved] Internal reconstruction is done due to answer choices. %%EOF b) Absorption. In which of the following cases, procedure of reduction of capital is not called for: 11. Q. HyE$=T0dd$@>%o53mXe@8f2"0(#u8WLfR>|>ug2gcA9vQ]EFk`K%>)U"ih$OVFMGo&g2y.#d4H(!V$$ r t KZCO2IJaDR,~Tt,!Oq]RA>z$\IU a) X Ltd. Having a share capital of Rs. Consent of creditors is required if capital reduction involves diminution of liability regarding uncalled capital or return of paid up capital. 4~"\ U,]]. When an existing company takes over the business of one or more existing companies, it is called. 0000001427 00000 n Merger Buyout Joint Venture De-merger 23Which merger involves firms engaged in unrelated types of activities? in Bangalore here: Software Service s 10 each fully paid decides to repay Rs. Redemption of preference shares is a case of capital reduction. Semantic reconstruction of continuous language from non-invasive brain The word And reduced cannot be added to the name of the company if no direction has been given by the court. The Capital reduction means reduction in ____________ value of shares.a) authorized capital b) Called up capital c) Uncalled capital d) paidup value, 3. 100 each, converts it into stock. The word And reduced cannot be added to the name of the company if no direction has been given by the court. 0000004701 00000 n 10 each, consolidated the shares into 5000 shares of Rs. Internal Reconstruction MCQ (Free) | Capital Reduction Bachelor of Business Administration (BBA). c) Super Profit. 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 The full balance of capital is to be debited, if _____________ value is reduced. 500000 divided into 50000 shares of Rs. xref TRpH[QU4] (kB7v a) face b) market c) both of a & b d) none of the above 12. 0000002930 00000 n 10 each fully paid. |:a=Z&v)kgAN"6]tBzy!NS It is a case of: (i) Reducing share capital by returning the excess capital, (ii) Reducing the liability on account of uncalled capital. Hn0w?Gr "% 2t0 We would like to show you a description here but the site won't allow us. 25. Corporate Accounting MCQ Question Bank Reconstruction of Companies. The reduction of capital is permitted under _____________ of Companies Act. In a scheme of reorganization amount of shares surrendered by shareholders is transferred to: 12. In internal reconstruction, the existing company will be . 6) Internal reconstruction means a) Amalgamation in nature of merger. ,ffFP7(]Pa&i& b+ + bg Any loss on revaluation of the assets at the time of internal reconstruction, will be charged from. No journal entry is required for cancellation of unissued share capital. Accounting for Internal Reconstruction [Set 1] PDF, Accounting for Amalgamation, Absorption and External, Chapter: Accounting for Internal Reconstruction. 500000. b) X Ltd. Having a share capital of Rs. 16. If there is any balance in the capital reduction account after writing off all the accumulated losses, then the same is transferred to: 8. Latest Reconstruction of companies MCQ Objective Questions - Testbook c) X Ltd. Having a share capital of Rs. Friends ye artical ke alava other subject Ke bhi article aapko mere website per mil jaenge jiska link me aapko niche de raha hu. In internal reconstruction, increase in the value of fixed assets is credited to. 0000000016 00000 n 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. hTA0>C. 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. GUD}%DQO}$m|@}L*#{`g5fd4"b~d|{\?1>c:-G $}gKYVAAy)>uvH/4SPHl"@@9HI,+XP f!M7fNG/_M=,(\q #d5*-1Kv 1,G( 4^:SiOfuN7"z~7~D`K773QspCMcJ|H"#6 r+i7.eW>Q3 sT 2g3O\b ^_T_ET_[JD=+x[oct;GYO|T-"['SRt~"7f Accounting for Internal Reconstruction Important MCQs. #2 MCQ for TYBCOM Sem 5 - Internal Reconstruction MCQ's - Financial AccountingThis lecture series contains all the MCQs related to TYBCOM Sem 5 - Financial A. Reduction of capital is unlawful except when sanctioned by the court. Get the essential details like: The number of papers The frequency of exams The manner of registration and exams, Eligibility, Exemptions, and Exam Dates For ICAI Ca Inter May 2022. :u4$L"G0cOpe"MH3SIoIe?+-;YH1k G@bV+o wound up. JD%@"i0iB*c`EX Main aim of this blog is to provide all academic resources and information's especially for Commerce Stream Students. a) dissenting b) paying c) pay disentient shareholders Forfeiture and Surrender of shares is a case of capital reduction. McqMate.com is an educational platform, Which is developed BY STUDENTS, FOR STUDENTS, The only 10 each. 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) authorized capital b) Called up capital c) Uncalled capital 11. Accounting procedure when internal reconstruction made 36) 7. Win vouchers worth INR 2,000 with our School Referral Program, Ranked Amongst Top 25 Companies by LinkedIn. Manan Prakashan 1 CHAPTER - 1 : AMALGAMATION, ABSORBTION AND EXTERNAL RECONSTRUCTION (AS - 14) MULTIPLE CHOICE QUESTIONS. 0000003418 00000 n Amount sacrificed by shareholders are credited to: 13. The full balance of capital is to be debited, if _____________ value is reduced.a) face b) market c) both of a & b d) none of the above, 12. (a) Profit (b) Loss (a)No Profit-No Loss (a) nil 5. 10 each, consolidated the shares into 5000 shares of Rs. Multiple Choice Questions and Answers (MCQs), Financial Statement and Financial Statements Analysis, MCQ on Internal Reconstruction and Capital Reduction. 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. Section 66 of the companies Act governs the internal reconstruction. Reconstruction of Companies MCQ - SlideShare MCQ on Amalgamation and External Reconstruction - CMA TUTORS Cancellation of unissued capital is also a case of capital reduction. When a company converts its equity shares into the capital stock, then the account to be credited is: 4. 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. 0000005402 00000 n Consent of creditors is required if capital reduction involves diminution of liability regarding uncalled capital or return of paid up capital. Restructuring Internal Reconstruction 22 State an arrangement whereby the assets of two ro more companies come under the control of one company? c) Super Profit. Important Links: MCQ on Internal Reconstruction : Multiple choice questions and answers December 18, 2021 by Abhimaynu Multiple choice questions and answers 1. #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 Company Final Accounts. 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 A company is free to reduce or extinguish the uncalled liability of its members. Save my name, email, and website in this browser for the next time I comment. PDF Chapter - 1 : Amalgamation, Absorbtion and External Reconstruction (As Accounting for Internal Reconstruction. Question and answers in Accounting for Internal Reconstruction. |4 (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. Copyright 2023 McqMate. %PDF-1.5 % 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. 10 each. Internal reconstruction result in the reduction of the capital of the company. 5 per share thus making each share of Rs. 0000000756 00000 n In ____________ , no new company is formed.a) External reconstruction b) Amalgamationc) internal reconstruction d) none of the above, 20. Holding Company Accounts. 5 each. Question 2. 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.