Amalgamation
30 Que, 30 Marks
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1- Relevant AS for Amalgamation is......................... *
1 point
2- Pooling of interests method is used to account for amalgamation in the nature of..................... *
1 point
3- Purchase consideration AS-14, should include something to be given by the transferee company to transferor company's ............... *
1 point
4- Excess purchase consideration paid to the transferor company and debited to goodwill account under the purchase method of accounting for amalgamation should be written off within a period of....................... *
1 point
5- The price payable by a company for business acquired is known as......................... *
1 point
6- In case of Purchase Method if the net tangible assets exceeds the purchase consideration, the difference will be treated as.................... *
1 point
7- In case of Purchase Method, profit made on acquisition of business is credited to.................. *
1 point
8- Inter company 'owing' should be ..................while preparing the balance sheet of the transferee company after completion of amalgamation. *
1 point
9- For transferring assets to realisation account- ................is debited. *
1 point
10- For transferring liabilities taken over....................is debited. *
1 point
11- In the books of vendor for purchase consideration receivable ......................... is debited *
1 point
12- In the books of vendor for receiving the purchase consideration .........................is credited *
1 point
13- For realizing assets not taken over................is debited *
1 point
14- For payment of liabilities not taken over............is debited. *
1 point
15- If expenses are to be borne by the purchasing company, in the books of vendor ...............is debited *
1 point
16- In the books of vendor, for discharge of preference share capital........................is debited. *
1 point
17- For transfer of profit from realization account .......................is credited. *
1 point
18- When two or more companies liquidate to form a new company is called....................... *
1 point
19- When the purchasing company allots shares at market price the calculation of purchase consideration is based on.................... *
1 point
20- In the books of purchasing company, liquidation expenses paid by the purchasing company are to be debited to.................. *
1 point
21- Absorption is said to be taken place when................... *
1 point
22- As per AS 14, purchase consideration is the amount agreed payable to *
1 point
23- The excess of purchase consideration over net asset is ................... *
1 point
24- Realisation expenses met by the purchasing company should be debited to .......................in the books of purchasing company. *
1 point
25- Purchase consideration is payable in................ *
1 point
26- Post acquisition profits are treated as................ *
1 point
27- Accumulated losses in the vendor company should be transferred to...................... *
1 point
28- The cost of liquidation of the vendor company agreed to be paid by the purchasing company is debited to.....................in the books of the later company. *
1 point
29- When an existing company takes over the business of one or more existing companies, it is called *
1 point
30- The first item in the order of payment to be made by the liquidator is *
1 point
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