M.Com Corporate Accounting Scanner – Jamia University

Corporate Accounting Jamia University – Question Pattern

2019 (3 Questions)

1. If H Ltd. Purchased 75% of the shares at a price of Rs.1,10,000, when S Ltd shares capital was Rs 60,000 and its accumulated profit amounted to Rs. 80,000, what was the amount of goodwill paid by H Ltd?
   (a) Rs. 5,000
   (b) Rs. 10,000
   (c) Rs. 15,000
   (d) Rs. 18,000
2. Which of the following is not a cash inflow?
   (a) Cash sales
   (b) Reduction in provision for doubtful debt
   (c) Sale of assets
   (d) Loan taken by a firm
3. Amit earned a profit of Rs. 60,000 in a year. If his investment in the business amounted to Rs. 2,00,000, what would be the return on investment (ROI) ?
   (a) 15%
   (b) 20%
   (c) 30%
   (d) 40%

2018 (6 Questions)

1. Which of the following is not general disclosure requirement under Accounting Standard-14?
   (a) Name and nature of business
   (b) Description and number of shares issued
   (c) Accounting method followed
   (d) Particulars of scheme sanctioned.
2. First debentures are those
   (a) Which are issued before share capital
   (b) Which are repayable before other debentures
   (c) Which are secured by a floating charges
   (d) Which are secured by a fixed charge
3. In case of redemption of preference shares out of distributable profits, and amount equal to the nominal value of preferences shares redeemed must be transferred to the
   (a) Development rebate reserve
   (b) Investment allowance reserve
   (c) Capital redemption reserve
   (d) Premium on redemption of preference shares
4.  Under-capitalization can be remedied by
   (a) Issue of bonus shares
   (b) Redemption of preference shares
   (c) Redemption of debentures
   (d) Reduction of interest of debentures
5. Which formula may be used for valuation of ‘Right of Pre-emption’?
   (a) V =
   (b) V =
   (c) V =
   (d) V=
6. Paying an excessive price to make an acquisition is called
   (a) Megalomania
   (b) Poisson pull
   (c) Hubris spirit
   (d) Green mail

2017 (13 Questions)

1. The following information pertains to X Ltd. : (l) Equity share capital called up Rs. 10,00,000; (2) Calls in arrear Rs.50,000; (3) Calls in advance Rs. 20,000; (4) Proposed dividend 10%. The amount of proposed dividend payable is –
   (a) 95,000
   (b) 90,000
   (c) 98,000
   (d) 1,00,000
2. A company offers to the public 10,000 shares for subscription. The company receives application for 12,000 shares. If the shares are allotted on pro-rata basis, then applicants for 12,000 shares are to be allotted as:
   (a) 4 shares for every 5 shares applied.
   (b) 2 shares for every 3 shares applied.
   (c) 5 shares for every 6 shares applied.
   (d) 3 shares for every 4 shares applied.
3. Which of the following is not an inflow of cash
   (a) Sale of fixed asset
   (b) Issue of debentures for cash
   (c) Funds from operation
   (d) Acquisition of assets
4. Dividends are usually paid as a percentage of_
   (a) Authorised shares capital
   (b) Net profit
   (c) Paid up capital
   (d) Called up capital
5. What is the effect on a company’s balance sheet of issuing bonus shares?
   (a) The bank balance will be increased
   (b) The long term liabilities will be increased
   (c) The reserves will be reduced
   (d) The share capital will be reduced
6. If Average Stock = Rs 12,000. Closing stock is Rs 3,000 more than opening stock then the value of closing stock will be:
   (a) 12,000
   (b) 24,000
   (c) 10,500
   (d) 13,500
7. A company issued Rs. 1,00,000 15% Debentures at a discount of 5% redeemable after 10 years at a premium of 10%. Loss on issue of debentures will be:
   (a) Rs. 15,000
   (b) Rs. 12,000
   (c) Rs. 10,000
   (d) None of the three
8. A loan due for repayment in 20 months time has been included as a current liability. What will be the effect when this is corrected?
   (a) Increase net assets
   (b) Increase net current assets
   (c) No effect on net current assets
   (d) Reduce net current assets
9. Win Ltd. issued 20,000, 8% debentures of Rs.10 each at par, which are redeemable after 5 years at a premium of 20%. The amount of loss on redemption of debentures to be written off every year will be
   (a) 40,000
   (b) 10,000
   (c) 2,000
   (d) 8,000
10. Debenture Carrying charge on particular asset of the company is known as———-
    (a) Fixed
    (b) Mortgage
    (c) Naked
    (d) Floating
11. Companies profit divided among shareholders is called —
    (a) Interest
    (b) Reserve
    (c) Dividend
    (d) Surplus
12. The fund available with a company after paying all claims including tax and dividend is called:
    (a) Retained earnings
    (b) Gross profit
    (c) Operating profit
    (d) Profit after Tax
13. Select the incorrect statement –
    (a) Dividends rate for ordinary shareholders is not fixed
    (b) The payment of dividends to shareholders is a legal obligation
    (c) Ordinary shareholders are generally called owners of residue
    (d) Preference shareholders receive dividend at fixed rate

2016 (5 Questions)

1. Select the incorrect statement –
   (a) Dividends rate for ordinary shareholders is not fixed
   (b) The payment of dividends to shareholders is a legal obligation
   (c) Ordinary shareholders are generally called owners of residue
   (d) Preference shareholders receive dividend at fixed rate
2. Companies profit divided among shareholders is—————
   (a) Interest
   (b) Reserve
   (c) Dividend
   (d) Surplus
3. What is the effect on a company balance sheet of issuing bonus shares?
   (a) The bank balance will be increased
   (b) The long term liabilities will be increased
   (c) The reserves will be reduced
   (d) The share capital will be required
4. Which of the following is not an inflow of cash
   (a) Sale of fixed asset
   (b) Issue of debentures for cash
   (c) Funds from operation
   (d) Acquisition of assets
5. A ratio which reflects the price investors are willing to pay per rupee of EPS is known as ….
   (a) DE ratio
   (b) PE ratio
   (c) BE ratio
   (d) Solvency ratio

Jamia Corporate Accounting – 2019

Jamia Corporate Accounting – 2017