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Home Questions 78HYG76GBJ
Target Exam

CUET

Subject

-- Accountancy Part A

Chapter

Accounting for Shares

Question:

Match List-I with List-II

List-I

List-II

(A)The maximum amount of share capital which a company is authorized to issue is known as:

(I) Capital reserve

(B) Shares can be forfeited for:

(II) Share capital

(C) The profit on the reissue of forfeited shares is transferred to:

(III) Nominal share capital

(D) Balance of share forfeiture account is shown in the balance sheet under the item:

(IV) Non-payment of call money

Choose the correct answer from the options given below:

Options:

(A)-(I), (B)-(II), (C)-(III), (D)-(IV)

(A)-(II), (B)-(I), (C)-(III), (D)-(IV)

(A)-(I), (B)-(II), (C)-(IV), (D)-(III)

(A)-(III), (B)-(IV), (C)-(I), (D)-(II)

Correct Answer:

(A)-(III), (B)-(IV), (C)-(I), (D)-(II)

Explanation:

The correct answer is Option (4) → (A)-(III), (B)-(IV), (C)-(I), (D)-(II)

List-I

List-II

(A)The maximum amount of share capital which a company is authorized to issue is known as:

(III) Nominal share capital

(B) Shares can be forfeited for:

(IV) Non-payment of call money

(C) The profit on the reissue of forfeited shares is transferred to:

(I) Capital reserve

(D) Balance of share forfeiture account is shown in the balance sheet under the item:

(II) Share capital

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