Start learning →

AP Intermediate 2nd Year Financial Accounting & Debentures — practice questions — page 3

Explore 85 free Financial Accounting & Debentures questions in AP Intermediate 2nd Year Accountancy. Open each question or exercise to read its content, reference answers and available explanation.

Practise Financial Accounting & Debentures with Quill →

Financial Accounting & Debentures questions and exercises with answers

Showing questions 61–85 of 85.

Name that capitalRead the answer and worked solution →The liability of the shareholders of a company limited by shares is limited to:Read the answer and worked solution →Asked for or received?Read the answer and worked solution →True or false about share capitalRead the answer and worked solution →Share capital numbersRead the answer and worked solution →If applications received exceed the number of shares offered, the issue is said to be:Read the answer and worked solution →The maximum amount of capital a company is authorised to raise, as stated in its Memorandum, is the:Read the answer and worked solution →Cancelling the shares of a member who fails to pay the call money is known as:Read the answer and worked solution →A debenture represents a:Read the answer and worked solution →That part of the issued capital which the public has agreed to subscribe is the:Read the answer and worked solution →A company is best described as an artificial person created by:Read the answer and worked solution →Financial statements bingoRead the answer and worked solution →Obligations that are due to be paid within twelve months are classified as:Read the answer and worked solution →Plant, machinery and buildings of a company are classified as:Read the answer and worked solution →The statement that shows the revenue earned and expenses incurred to arrive at profit or loss is the:Read the answer and worked solution →Financial statements are prepared mainly to help ___ make economic decisions:Read the answer and worked solution →Share capital bingoRead the answer and worked solution →The financial statements of a company chiefly comprise the Balance Sheet and the:Read the answer and worked solution →When a share of face value ₹10 is issued for ₹13, the extra ₹3 is the:Read the answer and worked solution →Where does it go?Read the answer and worked solution →Holders of equity shares are regarded as the ___ of the company:Read the answer and worked solution →The portion of the subscribed capital that the company has asked shareholders to pay is the:Read the answer and worked solution →When a share of face value ₹10 is issued for ₹10, it is said to be issued:Read the answer and worked solution →Match the statement termRead the answer and worked solution →Order the capital ladderRead the answer and worked solution →

Worked practice questions

Name that capital

Read exercise and reference answers
Questions
  1. Question
    The ceiling set by the memorandum
    Choices
    1. Authorised
    2. Paid up
    3. Called up
    Correct choice
    Authorised
  2. Question
    The part offered to the public
    Choices
    1. Paid up
    2. Issued
    3. Called up
    Correct choice
    Issued
  3. Question
    The part the public applied for
    Choices
    1. Authorised
    2. Issued
    3. Subscribed
    Correct choice
    Subscribed
  4. Question
    The money actually in the company's hands
    Choices
    1. Paid up
    2. Issued
    3. Authorised
    Correct choice
    Paid up
Instructions
Tap the kind of capital each phrase describes.
_Source: syllabus Accountancy, Ch 1 'Accounting for Share Capital'_

Open this exercise →

The liability of the shareholders of a company limited by shares is limited to:

  1. the unpaid amount on their shares
  2. the company's total debts
  3. an unlimited amount
  4. their personal assets
Show answer and solution

Correct answer: A. the unpaid amount on their shares

In a company limited by shares, liability is limited to the unpaid amount on shares.

Open this question →

Asked for or received?

Read exercise and reference answers
Left
Asked for
Items
  1. Item
    Called up capital
    Answer
    Asked for
  2. Item
    Call made
    Answer
    Asked for
  3. Item
    Demanded amount
    Answer
    Asked for
  4. Item
    Paid up capital
    Answer
    Received
  5. Item
    Money in hand
    Answer
    Received
  6. Item
    Amount collected
    Answer
    Received
Right
Received
Instructions
Swipe left for amounts asked for, right for amounts received.
_Source: syllabus Accountancy, Ch 1 'Accounting for Share Capital'_

Open this exercise →

How to practise

  1. Choose a Financial Accounting & Debentures question and try to work out your answer.
  2. Open the question to check the correct answer and read its worked solution.
  3. Continue in the app for bite-sized lessons, explanations and review with Quill. You can start without creating an account.

Put it into practice

Continue with Financial Accounting & Debentures practice for AP Intermediate 2nd Year. Read explanations as you go. No signup form needed to start.

Practise Financial Accounting & Debentures →

More Accountancy topics

Analysis of Financial StatementsCash Flow StatementPartnership AccountsFinancial Statements of a CompanyAccounting for Share CapitalAccounting for Partnership Firms: Retirement and Death of a PartnerAccounting for Partnership Firms: Goodwill