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ISC Class 12 Financial Accounting & Debentures — practice questions

Explore 64 free Financial Accounting & Debentures questions in ISC Class 12 Accountancy. Open each question or exercise to read its content, reference answers and available explanation.

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Financial Accounting & Debentures questions and exercises with answers

Showing questions 1–30 of 64.

Pop the stages of share capitalRead the answer and worked solution →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 →Complete the statement listRead the answer and worked solution →Complete the capital ruleRead the answer and worked solution →True or false about financial statementsRead the answer and worked solution →Spot the odd one outRead 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 →In a company's Balance Sheet, the total of the 'Equity and Liabilities' side must equal the total of the:Read the answer and worked solution →Assets that are expected to be converted into cash within twelve months are classified as:Read the answer and worked solution →The Balance Sheet of a company shows its financial:Read the answer and worked solution →Inventories and trade receivables of a company are examples of:Read the answer and worked solution →Trade payables (creditors) of a company are an example of:Read the answer and worked solution →As per Schedule III of the Companies Act, the Balance Sheet is prepared in the:Read the answer and worked solution →Sort the balance sheet headsRead the answer and worked solution →Spot the odd one outRead the answer and worked solution →Holders of debentures are the ___ of the company:Read the answer and worked solution →A debenture is a written instrument that acknowledges a ___ taken by a company:Read the answer and worked solution →On the winding up of a company, debenture holders are generally paid:Read the answer and worked solution →Match the kind of capitalRead the answer and worked solution →Asset or liability?Read the answer and worked solution →Shares that carry a preferential right to dividend at a fixed rate are called:Read the answer and worked solution →Shares that get dividend only after preference shareholders and carry voting rights are:Read the answer and worked solution →Name that capitalRead the answer and worked solution →Which debenture?Read the answer and worked solution →True or false about debenturesRead the answer and worked solution →Share or debenture?Read the answer and worked solution →Sort the debenturesRead the answer and worked solution →Debentures bingoRead the answer and worked solution →

Worked practice questions

Pop the stages of share capital

Read exercise and reference answers
Other terms
  1. Forfeiture
  2. Debenture
  3. Securities premium
  4. Dividend
  5. Par value
Matching terms
  1. Authorised
  2. Issued
  3. Subscribed
  4. Called-up
Instructions
Pop only the bubbles naming a stage a company's share capital passes through.
_Source: Qallery verified question bank, Class 12 State Board, topic Accounting for Share Capital_

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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
Show answer and solution

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
Show answer and solution

Correct answer: C. at discount

Issued below face value = at discount.

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