Test: Issue Of Debentures - 2


30 Questions MCQ Test Fundamentals of Accounting for CA CPT | Test: Issue Of Debentures - 2


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QUESTION: 1

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

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QUESTION: 2

Discount on issue of debentures is a ____________.

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QUESTION: 3

 Which of the following is false with respect to debentures

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QUESTION: 4

When debentures are issued as collateral security:

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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:

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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---

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QUESTION: 7

T Ltd. purchased land and building from U Ltd. for a book value of Rs. 2,00,000. The consideration was paid by issue of 12% Debenture of Rs. 100 each at a discount of 25%. The debentures account is credited with _________.

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QUESTION: 8

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

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QUESTION: 9

Which of the following statements is false?

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QUESTION: 10

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

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QUESTION: 11

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

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QUESTION: 12

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

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QUESTION: 13

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

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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 

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QUESTION: 15

Which of the following is false with respect to debentures?

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QUESTION: 16

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

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QUESTION: 17

Which of the following is false?

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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 

Solution:
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?

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QUESTION: 20

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

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QUESTION: 21

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

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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: 

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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: 

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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?

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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 =?

Solution:
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

Solution:
QUESTION: 27

 Interest Payable on debentures is 

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QUESTION: 28

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

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QUESTION: 29

Interest on debentures is calculated on

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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 =?

Solution:

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