ADVANCED CORPORATE ACCOUNTING M.COM PART 1 MCQ

ADVANCED CORPORATE ACCOUNTING

M.COM PART 1

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Strategic Management

https://www.surajpateleducation.com/2020/11/strategic-management-mcom-part-1.html

Advanced Cost Accounting

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ECONOMICS OF GLOBAL TRADE AND FINANCE

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ADVANCED FINANCIAL ACCOUNTING

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HUMAN RESOURCE MANAGEMENT

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1. Amalgamation may be resorted to

A) To obtain economies of scale
B) To avoid competition
C) To avail tax advantage
D) All the above

... Answer is D)
 

2. Acquisition by a steel company of an iron ore mine is an example of ?

A) Horizontal integration
B) Backward integration
C) Forward integration
D) None of the above

... Answer is B)

3. Except for fractional shares, purchase consideration is paid to willing share holders of acquiree in shares of acquirer when amalgamation is in the nature of

A) Purchase
B) Merger
C) Internal reconstruction
D) Internal reconstruction

... Answer is B)

4. If the acquirer revalues the assets of acquiree on amalgamation, it is a case of

A) Purchase
B) Merger
C) Pooling of interest
D) All the above

... Answer is A)

5. A new company is formed to take over the assets and liabilities of old company in the case of

A) Amalgamation
B) Absorption
CInternal reconstruction
D) External reconstruction

... Answer is D)

6. No liquidation or formation takes place in the case of

A) External reconstruction
B) Amalgamation
C) Internal reconstruction
D) Take over

... Answer is C)

7. Full information regarding different forms of payment are stated when purchase consideration is determined under

A) Net asset method
B) Intrinsic value method
C) Net payment method
D) Lump sum payment method

... Answer is C)

8. Intention of the acquirer to carry on the business of acquiree is a necessary condition in

A) Merger
B) Purchasec
C) Reconstruction
D) All the above

... Answer is A)

9. Full information regarding value of assets taken over and liabilities assumed is given when purchase consideration is determined under

A) Net payment method
B) Net asset method
C) Lump sum payment method
D) Intrinsic value method

... Answer is B)

10. Amount of purchase consideration is the payment made to...............

A) Share holders of the acquiree
B) Equity holders and debenture holders of acquiree
C) Creditors of the acquiree
D) All the above

... Answer is A)

11. A realisation account is prepared in the books of

A) Transferee company
B) Transferor company
C) Sole trader
D) Partnership firm

... Answer is B)

12. Assets taken over by transferee company are ............... in realisation account.

A) Credited
B) Debited
C) Neither debited nor credited
D) None of the above

... Answer is B)

13. Assets taken over are transferred to realisation account at

A) Book value
B) Agreed value
C) Original cost
D) None of the above

... Answer is A)

14. Liabilities assumed by transferee are ............. in realisation account.

A) Credited
B) Debited
C) Neither credited nor debited
D) None of the above

... Answer is A)

15. Liabilities undertaken by transferee are transferred to realisation account at

A) Book value
B) Agreed value
C) Actual amount paid
D) None of the above

... Answer is A)

16. Purchase consideration received from transferee are ............. in realisation account.

A) Credited
B) Debited
C) Neither credited nor debited
D) None of the above

... Answer is A)

17. AS 14 deals with

A) Liquidation of companies
B) Depreciation
C) Inventories
D) Amalgamation of companies

... Answer is D)

18. Sections 390 to 396 of the Companies Act pertain to

A) Liquidation of companies
B) Alteration of share capital
C) Internal reconstruction
D) Amalgamation of companies

... Answer is D)

19. Any payment to preference share holders in excess of paid up value of preference shares is debited to ..............account.

A) Capital A/C
B) Preference share holders’ A/C
C) Realisation A/C
D) Securities premium A/C

... Answer is C)

20. Profit on acquisition of business is credited to................

A) Goodwill
B) Cost of control
C) Capital reserve
D) Revenue reserve

... Answer is C)

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