General Awareness Quiz for ECGC PO & Bank Mains Exams 2021- 27th January

Q1. When full amount is due on any call but it is not received, then the short fall is debited to:
(a)Calls-in-advance
(b)Suspense Account
(c)Calls-in-arrear
(d)Share Capital
(e)None of the above

Q2. Reserve share capital means:
(a)Suspense Account
(b)Portion of uncalled capital to be called only at liquidation
(c)Part of authorised capital to be called at the beginning
(d)Oversubscribed capital
(e)Under subscribed capital

Q3. Company receives more application than shares issued in?
(a)Nominal subscription
(b)Routine subscription
(c)Over subscription
(d)Under subscription
(e)Both A and B

Q4. What is the minimum required paid up capital of a public company?
(a)5 Lakhs
(b)10 Lakhs
(c)15Lakhs
(d)20Lakhs
(e)25Lakhs

Q5. Share application and allotment account is a:
(a)Personal account
(b)Real account
(c)Nominal account
(d)Both B and C
(e)None of these

Q6. Ordinary shares are also called?
(a)Preference shares
(b)Deferred shares
(c)Founders shares
(d)Equity shares
(e)None of These

Q7. How many legal basic documents of a public company are?
(a)Two
(b)Three
(c)Four
(d)Five
(e)Six

Q8. The shares of a public limited company generally?
(a)Not transferable
(b)Restricted
(c)Freely transferable
(d)All of these
(e)None

Q9. The sum of the par value of the shares of a company is called?
(a)Shares
(b)Capital Value
(c)Reserve capital
(d)Working capital
(e)Share capital

Q10. What Type of Capital will take Place after the authorized capital?
(a)Issued Capital
(b)Subscribe Capital
(c)Called up Capital
(d)Paid up capital
(e)None of the above

Q11. When a Company make an offer or invites the Public in general to subscribe its shares, it is known as ___________?
(a)Issues of share at per
(b)Initial Public Offer (IPO)
(c)Private placement of shares
(d)Issues of shares of premium
(e)None of The Above

Q12. Authorized shares Capital is also Known As ________.
(a)Paid up capital
(b)Issued Capital
(c)Nominal Capital
(d) Called up Capital
(e)Reserve Capital

Q13. Which of the following represent the excess of issued price over the nominal value of shares?
(a)Premium of issues of share
(b)Discount on issues of share
(c)Shared Capital
(d)Profit of Company
(e) Secondary of issues of share

Q14. Discount on issue of shares is a?
(a)Revenue loss
(b)Capital loss
(c)Capital profit
(d)Revenue profit
(e)None of these

Q15. Which of the following statement is false?
(a)Company is not affected by death of its member
(b)A company can buy its own share
(c)Company is managed by all the member
(d)A Company is legal entity distinct from its owner
(e)only A and B

Solutions

S1.Ans(c)
Sol. The full amount is due on any call but it is not received, then the short fall is debited to Calls-in-arrear.

S2.Ans(b)
Sol. Reserve share capital means Portion of uncalled capital to be called only at liquidation.

S3.Ans(c)
Sol. Company receives more application than shares issued in Over subscription.

S4.Ans(a)
Sol. The minimum required paid up capital of a public company is 5 Lakhs.

S5.Ans(a)
Sol. Share application and allotment account is a Personal account.

S6.Ans(d)
Sol. Ordinary shares are also called Equity shares.

S7.Ans(b)
Sol. Legal basic documents of a public company are Three.

S8.Ans(c)
Sol. The shares of a public limited company generally are Freely transferable.

S9.Ans(e)
Sol. The sum of the par value of the shares of a company is called Share capital.

S10.Ans(a)
Sol. The type of Capital will take Place after the authorized capital are given below-
(a)Issued Capital
(b)Subscribe Capital
(c)Called up Capital
(d)Paid up capital

S11.Ans(b)
Sol. When a Company make an offer or invites the Public in general to subscribe its shares, it is known as Initial Public Offer (IPO).

S12.Ans(c)
Sol. Authorized shares Capital is also Known as Nominal Capital.

S13.Ans(a)
Sol. When a company issued its share at a price which is more than the actual face value, it is known as shares issued at premium.

S14.Ans(b)
Sol. Discount on issue of shares is a Capital loss.

S15.Ans(c)
Sol. ‘Company is managed by all the member’ is not correct because it is not mandatory for all the members to run the company.

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