Company Accounts, Cost and Management Accounting - Icsi

262: 2 :(c)(iii) Redemption of preference shares of a company is —(a)(b)(c)(d)CompulsoryOptionalConditionalNone of the above.(iv) Which method is legally allowed for redemption of preference shares —(a)(b)(c)(d)Issue of fresh equity sharesSale of assets of the companyIssue of debenturesLoan from the bank.(v) Profit prior to incorporation of a company is transferred to —(a)(b)(c)(d)General reserveCapital reserveGoodwill accountStatement of profit and loss.(1 mark each)Re-write the following sentences after filling-in the blank spaces with appropriateword(s)/figure(s) :(i)(ii)(iii)(iv)(v)Sections 349 and 350 of the Companies Act, 1956 contain the provisionsrelating to the manner of determination of net profits for the purpose ofcalculating the ___________ .A company may allot fully paid-up shares to promoters or any other partyfor the services rendered by them without payment is known as issue ofshares ___________ .To determine whether an intangible asset is impaired, an enterprise appliesAccounting Standard on ___________ .International Accounting Standards (IAS)/International Financial Reporting Standards(IFRS) are issued by the ___________ .Deferred tax assets are shown under the head ___________ in the balance sheetof a company.(1 mark each)2/2012/CACMA Contd ........262/2