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Test: Issue Of Debentures - 2 - Commerce MCQ


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30 Questions MCQ Test Accountancy Class 12 - Test: Issue Of Debentures - 2

Test: Issue Of Debentures - 2 for Commerce 2024 is part of Accountancy Class 12 preparation. The Test: Issue Of Debentures - 2 questions and answers have been prepared according to the Commerce exam syllabus.The Test: Issue Of Debentures - 2 MCQs are made for Commerce 2024 Exam. Find important definitions, questions, notes, meanings, examples, exercises, MCQs and online tests for Test: Issue Of Debentures - 2 below.
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Test: Issue Of Debentures - 2 - Question 1

 Which of the following is not a characteristic of Bearer Debentures?

Test: Issue Of Debentures - 2 - Question 2

Discount on issue of debentures is a ____________.

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Test: Issue Of Debentures - 2 - Question 3

 Which of the following is false with respect to debentures

Test: Issue Of Debentures - 2 - Question 4

When debentures are issued as collateral security:

Test: Issue Of Debentures - 2 - Question 5

Ram limited has isuued 15% debentures of Rs.20,00,000 at a discount of 10% on April 1, 2012. The company pays interest half-yearly on June 30 and Dec 31 every year. On March 31, 2013 the amount shown as interest accrued but not yet due in the Balance Sheet will be:

Test: Issue Of Debentures - 2 - Question 6

 On 31st March, 2012, H limited issued 7% debentures of Rs. 100 each at a discount of 205. Such loss on issue of debentures will be treated as---

Test: Issue Of Debentures - 2 - Question 7

T Ltd. purchased land and building from U Ltd. for a book value of Rs. 3,00,000. The consideration was paid by issue of 12% Debentures of Rs. 100 each at a discount of 20%. The debentures account is credited with.

Detailed Solution for Test: Issue Of Debentures - 2 - Question 7

No. of Debentures = Book value of land and building / Issue price of debentures
Issue price of debentures= Rs. 100 - 20
                                           = Rs. 80
No. of debentures= 300000/80

                               = 3750 debentures
Debentures account will be credited with the amount of 375000 (3750 x 100).
Correct option is B. Rs. 3,75,000

Test: Issue Of Debentures - 2 - Question 8

Which of the following is true with regard to 10% Debentures issued at a discount of 20%?

Test: Issue Of Debentures - 2 - Question 9

Which of the following statements is false?

Test: Issue Of Debentures - 2 - Question 10

Which of the following is not correct in respect of debentures: 

Test: Issue Of Debentures - 2 - Question 11

When debentures are issued as collateral security for a loan then such debentures holders are entitled for: 

Test: Issue Of Debentures - 2 - Question 12

When debentures are redeemable at different dates, the total amount of discount on issue of debentures should be written off

Test: Issue Of Debentures - 2 - Question 13

 Which of the following statement is false with respect to debentures?

Test: Issue Of Debentures - 2 - Question 14

Zee Limited purchased a plant from Dee Limited for book value of Rs.4,50,000. The consideration was paid by isuue of 15% debentures of Rs.100 each at a discount of 10%.The debentures account will be credited by 

Test: Issue Of Debentures - 2 - Question 15

Which of the following is false with respect to debentures?

Test: Issue Of Debentures - 2 - Question 16

When debentures are issued as collateral security against any loan then holder of such debentures is entitles to 

Test: Issue Of Debentures - 2 - Question 17

Which of the following is false?

Test: Issue Of Debentures - 2 - Question 18

Zee Limited purchased a plant from Dee Limited for book value of Rs.4,50,000. The consideration was paid by isuue of 15% debentures of Rs.100 each at a discount of 10%.The debentures account will be credited by 

Test: Issue Of Debentures - 2 - Question 19

5,000, 12%debentures of Rs.100 each issued as collateral security. To record this transaction which of the following entry will be passed?

Test: Issue Of Debentures - 2 - Question 20

In case of a Balance Sheet of a company, debentures are shown under the head: 

Test: Issue Of Debentures - 2 - Question 21

Which of the following statement is false with respect to debentures?

Test: Issue Of Debentures - 2 - Question 22

If debentures of Rs.4,70,000 are issued for the consideration of Rs.5,00,000, then balance Rs.30,000 will be credited to: 

Test: Issue Of Debentures - 2 - Question 23

If debentures of Rs.4,70,000 are issued for the consideration of Rs.5,00,000, then balance Rs.30,000 will be credited to: 

Test: Issue Of Debentures - 2 - Question 24

When debentures are issued at a discount and are redeemable at a premium. Which of the following account is debited at the time of issue of debentures?

Test: Issue Of Debentures - 2 - Question 25

P Ltd. issued 5,000, 12% debentures of Rs. 100 each at a premium of 10%, which are redeemable after 10 years at a premium of 20%. The amount of loss on redemption of debentures to be written off every year =?

Test: Issue Of Debentures - 2 - Question 26

Debentures can be __________.
I. Mortgage Debentures or simple Debentures
II. Registered Debentures or Bearer Debentures.
III. Redeemable Debentures or Irredeemable Debentures.
IV. Convertible Debentures or Non-convertible Debentures

Test: Issue Of Debentures - 2 - Question 27

 Interest Payable on debentures is 

Test: Issue Of Debentures - 2 - Question 28

 Which of the following is not correct in respect of debentures: 

Test: Issue Of Debentures - 2 - Question 29

Interest on debentures is calculated on

Test: Issue Of Debentures - 2 - Question 30

On May 01, 2003, Y Ltd. issued 7% 40,000 convertible debentures of Rs. 100 each at a premium of 20%. Interest is payable on September 30 and March 31, every year. Assuming that the interest runs from the date of issue, the amount of interest expenditure debited to profit and loss account for the year ended March 31, 2004 =?

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