Question 1
Under the Companies Act, 2013, a company issues equity shares of face value Rs. 10 at a premium of Rs. 4. Where must the Rs. 4 per share premium be credited?
Correct Answer:
Securities Premium Account
Question 2
As per Section 52(2) of the Companies Act, 2013, the Securities Premium Account can be applied for which of the following purposes?
Correct Answer:
Writing off the premium payable on redemption of debentures
Question 3
A shareholder holding 200 shares of Rs. 10 each (Rs. 8 called up) failed to pay the final call of Rs. 2. The shares were forfeited. What amount is credited to the Forfeited Shares (Share Forfeiture) Account on forfeiture?
Correct Answer:
Rs. 1,600
Question 4
200 shares of Rs. 10 each, on which Rs. 8 had been received, were forfeited and later reissued as fully paid at Rs. 9 per share. What amount is transferred to Capital Reserve?
Correct Answer:
Rs. 1,400
Question 5
Under Section 63 of the Companies Act, 2013, fully paid bonus shares may NOT be issued out of which source?
Correct Answer:
Revaluation Reserve
Question 1
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About this Exam

Prepare with the CMA Inter Paper 10 Practice Questions - CMA Intermediate Paper 10 Corporate Accounting and Auditing (CAA) Exam practice quiz. This question bank includes 100 questions covering company, shares, section, companies, and share. Use it to review important concepts, identify knowledge gaps, and build confidence for the related exam, course, or assessment.

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CMA Inter Paper 10 Practice Questions - CMA Intermediate Paper 10 Corporate Accounting and Auditing (CAA) Exam

This practice set contains 100 questions from the matching question bank and focuses on company, shares, section, companies, and share. Work through each question carefully, review the provided solutions, and revisit topics that need more study before your next attempt.

This is an independent study resource intended for practice and review; it is not an official examination or an endorsement by any organization named in the title.

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