CUET (UG) entrance exam Question Bank Solutions

Pick the odd one out.

Which of the following statement is true?

Discount on issue of debentures is a ______

Loss on issue of debentures is treated as ______.

Which of the following is false with respect to debentures ?

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

Which account will be prepared to record the adjusting amount of assets and liabilities?

A Ltd. took over the assets of ₹ 6,60,000 and liabilities of ₹ 80,000 of B Ltd. for an agreed purchase consideration of ₹ 6,00,000 payable 10% in cash and the balance by the issue of 15% debentures of ₹ 100 each at 10% discount. The number of debentures to be issued is:

10% Debenture issued at ₹ 105 is repayable at ₹ 110, the face value of the debenture being ₹ 100. Calculate the amount of loss on redemption of debentures.

Karan and Saran are partners in a partnership. They admitted Mohit as a new partner for `1/4`th share in profits.

If 5% of creditors are not likely to claim their dues, what amount of creditors will be shown in the Balance Sheet on Mohit's admission?

Interest on debentures is calculated on ______.

Debenture holders are the ______.

If at the time of admission, there is some unrecorded liability, it will be:

Assertion (A): Sarita Pvt. Ltd. issued 15% 10,000 debentures at par @ ₹ 100 per debenture. The company suffered a loss but still the directors of the company paid interest on debentures.

Reason (R): Interest on debenture is a charge against profits and therefore, its payment is not subject to the earning of profit.

Maximum limit on premium on issue of debentures is ______.

Assertion (A): At the time of admission of a partner if there is any General Reserve, Reserve Fund or the balance of Profit & Loss Account appearing in the balance sheet, it should be transferred to old partners' capital/current accounts in their old profit sharing ratio.

Reason (R): The General reserve, Reserve Fund or the Balance of Profit and Loss Account are the result of the past profits when the new partner was not admitted.

Debenture is ______.

A company can issue debentures:

Which of the following is not a source of cash?

Premium received on issue of debentures may be utilised for: