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ISC Class 12 Accountancy — practice by topic

Browse 64 questions across 1 Accountancy topics. Choose what you want to revise, then open a question to check its answer and worked solution.

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Accountancy topics

Financial Accounting & Debentures (64)

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Compared with an equity shareholder, a debenture holder has:Read the answer and worked solution →When a debenture of face value ₹100 is issued for ₹95, it is issued:Read the answer and worked solution →Reserves and surplus of a company are shown under the head:Read the answer and worked solution →A key limitation of financial statements is that they are generally based on:Read the answer and worked solution →

Worked practice questions

Compared with an equity shareholder, a debenture holder has:

  1. no voting rights in the company
  2. ownership of assets
  3. a share in management
  4. full voting rights
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Correct answer: A. no voting rights in the company

Debenture holders have no voting rights, unlike equity shareholders.

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When a debenture of face value ₹100 is issued for ₹95, it is issued:

  1. at par
  2. at call
  3. at discount
  4. at premium
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Correct answer: C. at discount

Issued below face value = at discount.

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Reserves and surplus of a company are shown under the head:

  1. Non-current Assets
  2. Current Liabilities
  3. Shareholders' Funds
  4. Current Assets
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Correct answer: C. Shareholders' Funds

Reserves and surplus appear under Shareholders' Funds.

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