S.Y.B.Com Sem IV Test - II Corporate Accounting May 2021

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Sant Muktabai Arts & Commerce College Muktainagar Dist- Jalgaon

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Name of Student *

Class *

Mobie No *

1. Profit prior to incorporation is the profit earned----------------. *

2 points

A. between the date of incorporation and the date of commencement of business.

B. between the date of purchase and date of incorporation

C. between the date of incorporation and date of receipt of commencement of business.

D. between the date of purchase of business and date of commencement of business.

2. Profit prior to incorporation belongs to ---------------. *

2 points

A. the company

B. the vendor

C. both the company and the vendor

D. none of the above

3. A company can buy back *

2 points

a) Equity shares

b) Preference shares

c) Both of the above

d) Equity share can be bought back

4. A company may purchase his own shares *

2 points

a) Its free reserves

b) Securities Premium A/c

c) The proceeds of shares

d) any or all of the above.

5. A business has a capital of Rs. 40,000 at the end. It had earned profits of Rs. 5,000 during theyear. Hence, the average capital of the business will be — *

2 points

(i) Rs. 42,500

(ii) Rs. 37,500

(iii) Rs. 35,000.

(iv) Rs. 47,500

6. If the super-profits of a business are Rs. 6,000 and the normal rate of profit is 10%, then theamount of goodwill as per the capitalisation method will be— *

2 points

(i)Rs. 60,000

(ii) Rs. 600

(iii) Neither of the two.

(iv) Rs. 40,000

7. For calculating the value of an equity share by yield method, it is essential to know— *

2 points

(i)Expected rate of return

(ii) Called-up equity share capital

(iii) Capital employed.

(iv) None of the Above

8.Meaning of Net Assets is :--------------- *

2 points

(i) Total Assets − Total Liabilities

(ii) Fixed Assets + Current Assets

(iii) Total Assets − Current Liabilities

(iv) Total Assets − Outside Liabilities

9. In respect of the valuation of shares, the employed capital means:------------ *

2 points

(i) Cost price of all the assets

(ii) Market value of all the assets

(iii) Book value of all the assets]

(iv) All the above values

10. The value of per shares on division of amount of net assets by number of share will be :------------ *

2 points

(i) Intrinsic Value

(ii) Book Value

(iii) Cost Price

(iv) Market Value

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