Find here the NCERT Book Multiple Choice Questions from Class 12 Accountancy book with Answers Pdf free download as per CBSE new exam pattern. This may assist you to understand and check your knowledge about the chapters. Students also can take a free test of the Multiple Choice Questions of Class 12 Accountancy. Each question has four options followed by the right answer. These MCQ Questions are selected supported by the newest exam pattern as announced by CBSE.
Q1. Debentures account is always credited with the
a) Nominal value
b) Premium Value
c) Discount value
d) None of the options
a) Nominal value
Q2. Redemption of debentures means
a) Repayment of the due amount of debentures to the debenture holders
b) Repayment of the due amount of debentures to the Share holders
c) Repayment of the due amount of debentures to the Employees
d) None of the options
a) Repayment of the due amount of debentures to the debenture holders
Q3. When repayment is made at the date of maturity called
a) Maturity Date
b) Maturity Profit
c) Maturity Capital
d) None of the options
a) Maturity Date
Q4. Profit on sale of debenture redemption fund investments in the first instance is credited to :
a) Debenture redemption fund account
b) Profit and loss appropriation account,
c) General reserve account
d) None of the options
a) Debenture redemption fund account
Q5. When debentures are redeemed out of profits, an equal amount is transferred to
a) Debenture redemption reserve
b) General reserve
c) Capital reserve.
d) None of the options
a) Debenture redemption reserve
Q6. Profit on cancellation of own debentures is transferred to :
a) Capital reserve.
b) General reserve
c) Debenture redemption reserve
d) None of the options
a) Capital reserve.
Q7. Own debentures are those debentures of the company which:
a) The company purchases from the market and keeps them as investments.
b) The company allots to its own promoters,
c) The company allots to its Director,
d) None of the options
a) The company purchases from the market and keeps them as investments.
Q8. Which of the following statements are false if debentures redeemed out of capital:
a) DRR is not created if debentures are redeemed out of capital
b) Nominal value of debentures redeemed is not transferred to DRR or General Reserve.
c) Debentures account is debited and bank account is credited
a) DRR is not created if debentures are redeemed out of capital
Q9. Debentures can be redeemed out of
a) All of the options
b) Profits
c) Capital
d) Provisions made for redemption
a) All of the options
Q10. Debenture holders are the _ of company.
(a) Owner
(b) Creditors
(c) Money lender
(d) All of these.
(b) Creditors
Q11. Public Limited company can issue:
(a) Equity Share
(b) Preference Share
(c) Debenture
(d) All of these.
(d) All of these.
Q12. __ is written acknowledgment of debt.
(a) Equity share
(b) Preference share
(c) Debenture
(d) All of these.
(c) Debenture
Q13. _ debentures have to be redeemed within a fixed period of time.
(a) Convertible
(b) Redeemable
(c) Participating
(d) Naked.
(b) Redeemable
Q14. Debentures may be issued at _.
(a) par
(b) premium
(c) Discount
(d) All of these.
(d) All of these.
Q15. When the number of debenture applied for is less than the number of debenture offered, is called __ subscription.
(a) over
(b) under
(c) minimum
(d) None of these.
(b) under
Q16. The provisions of Companies Act 2013 with respect to redemption to debentures are to protect the interest of
(a) debenture holders
(b) creditors
(c) shareholders
(d) Banks
(a) debenture holders
Q17. If debenture of ₹ 1,00,000 were issued for discount of ₹ 10,000, which are redeemable after four years. Then amount of discount to be written off from P. & L. Account each year is :
(a) ₹ 3,000
(b) ₹ 4,000
(c) ₹ 2,500
(d) ₹ 5,000
(c) ₹ 2,500
Q18. Debentures can be redeemed out of:
(a) Profit
(b) Capital
(c) Provision
(d) All of the above
(d) All of the above
Q19. Premium on redemption of debentures is a :
(a) Personal A/c
(b) Real A/c
(c) Nominal A/c
(d) Suspense A/c
(c) Nominal A/c
Q20. Premium on redemption of debentures is generally provided at the time of ……………
(a) Issue of debentures
(b) Redemption of debentures
(c) Writing off
(d) After 10 years
(b) Redemption of debentures
Q21. Debentures cannot be redeemed at:
(a) Par
(b) Premium
(c) Discount
(d) More than 10% premium
(c) Discount
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Accountancy MCQ Class 12 Part 1 and Accounts MCQ Class 12 Part 2
- Chapter 1: Accounting for Not for Profit Organisation Class 12 MCQ
- Chapter 2: Accounting for Partnership: Basic Concepts Class 12 MCQ
- Chapter 3: Reconstitution of Partnership Firm: Admission of a Partner Class 12 MCQ
- Chapter 4 : Reconstitution of Partnership Firm: Retirement / Death of a Partner Class 12 MCQ
- Chapter 5: Dissolution of a Partnership Firm Class 12 MCQ
- Chapter 6: Accounting for Share Capital Class 12 MCQ
- Chapter 7: Issue and Redemption of Debentures Class 12 MCQ
- Chapter 8: Financial Statements of a Company Class 12 MCQ
- Chapter 9: Analysis of Financial Statements Class 12 MCQ
- Chapter 10: Accounting Ratios Class 12 MCQ
- Chapter 11: Cash Flow Statement Class 12 MCQ