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12th Principles of Accounting Chapter 4 Test

Here you can prepare 12th Class Principles of Accounting Chapter 4 Accounts of Join Stock Companies Test. Click the button for 100% free full practice test.

12th class Principle of Accounting chapter 4 online mcq test with answers for ICom part 2 Principle of Accounting Chapter 4 (Accounts of Join Stock Companies)

This online test contains MCQs about following topics:

. Definition of Joint Stock Company . Characteristics . Kinds of Companies . Formation of a Public Limited Company . Important Legal Documents of a Public Limited Company . Share Capital of a Joint Stock Company . Issuance of Shares . Accounting for Issue of Shares-first or Initial Issue . Subsequent Issue of Shares . Debentures and its Kinds . Characteristics of Debentures . Issue of Debentures . Difference between a Shareholder and a Debentureholder . Important Details Relating to Debentures . Why Companies Prefer to Debenture Issue . Different Stages of Debentures

ICOM Part 2 Accounting Ch 4 Test
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12th class Principle of Accounting chapter 4 online mcq test with answers for ICom part 2 Principle of Accounting Chapter 4 (Accounts of Join Stock Companies)

Sr. # Questions Answers Choice
1 The liability of the members is limited according to undertaking of members to contribute to the assets of the company in the event of its being wound up,
  • A. Company limited by shares
  • B. Unlimited company
  • C. Company limited by guarantee
  • D. Association not for profit
2 The company which can be formed by at least two members,
  • A. Private company
  • B. Public company
  • C. Sole proprietorship
  • D. All of the above
3 A company is formed by,
  • A. Owners
  • B. Directors
  • C. Managers
  • D. Employees
4 The company in which members are personally liable for the debts of company
  • A. Company limited by shares
  • B. Unlimited company
  • C. Company limited by guarantee
  • D. Association not for profit
5 Joint stick company is formed under
  • A. Finance society act 1913
  • B. Partnership act 1932
  • C. Companies ordinance 1984
  • D. Common carrier act 1865
6 The company which can be formed by at least seven members,
  • A. Private company
  • B. Public company
  • C. Partnership
  • D. Sole proprietorship
7 It is an artificial person recognized by law,
  • A. Joint stock company
  • B. Partnership
  • C. Sole proprietorship
  • D. "b" and "c"
8 In Partnership, in case of banking business, the partners must not exceed,
  • A. 20
  • B. 15
  • C. 10
  • D. 5
9 Maximum members in private company are,
  • A. 10
  • B. 50
  • C. 100
  • D. 150
10 This is the principal form of company,
  • A. Company limited by shares
  • B. Unlimited company
  • C. Company limited by guarantee
  • D. Association not for profit

Top Scorers of Principles of Accounting Icom Part 2 English Medium Chapter 4 Online Test

N

Noor Fatima

Lahore13 - Jan - 2022

15/15
01 Mins 01 Sec
M

Muhammad Rashid

Lahore05 - Dec - 2021

13/15
02 Mins 48 Sec
N

Noor Fatima

Lahore13 - Jan - 2022

12/15
01 Mins 20 Sec
M

Maryam Nadeem

Lahore18 - Jan - 2022

11/15
02 Mins 35 Sec
A

Abdullah Iftikhar

Lahore30 - Dec - 2021

10/15
02 Mins 52 Sec
A

Ayesha Tariq

Lahore11 - Dec - 2021

10/15
04 Mins 55 Sec

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