The rate of discount should not exceed ……………. Of nominal vale of shares.

Related MCQs

• ABC Ltd. makes payments to its Sundry Creditors through cheques and the Cash Discount received on these payments is recorded in the Triple-columnar Cash Book. In the event of dishonour of any such cheques, the discount so received should be written back through (i) A debit to discount column of the Cash Book (ii) A credit to discount column of the Cash Book (iii) A credit to bank column of the Cash Book (iv) A debit to Discount Account through Journal Proper (v) A credit to Creditor‘s Account through Journal Proper
• Which of the following statements is/are true? (i) Drawings Account is a Nominal Account (ii) Capital Account is a Real Account (iii) Sales Account is a Nominal Account (iv) Outstanding salaries account is a Nominal Account (v) Patents Account is a Personal Account
• The rate of discount on shares cannot exceed.
• The rate of discount on shares cannot exceed ……….
• The rate of discount on shares cannot exceed
• Preference shares, in case the holders of these have a right to convert their preference shares into equity shares at their option according to the terms of issue, such shares are called :
• If debentures of the nominal value of Rs. 1,00,000 are issued at discount of 10% for net assets worth Rs. 80,000, the balance of Rs. 10,000 will be debited to:
• If applicants for 80,000 shares were allotted 60,000 shares on prorata basis, the shareholder who was allotted 1,200 shares must have applied for :
• In case of Buy Back at a discount the amount of discount is transferred to _________________
• Goods worth ` 10,000 were purchased by B on which the traders allowed ` 500 trade discount and offer to give 5% cash discount if immediate payment is made. The Purchase A/c will be debited by —