681.For checking that allotment of shares has been properly made, an auditor should refer to
A.Cash Book
B.Shares Ledger
C.Directors minutes book
D.Shareholders minutes Book

682.Auditor should see that the return of allotment has been sent to Registrar within
A.1 month
B. 2 months
C. 3 months
D. 40 days

683.Application money should not be withdrawn unless
A.Allotment is made
B.Cash book has been prepared
C.Certificate to commence business obtained
D.Certificate of incorporation obtained

684.Shares issued for consideration other than cash should be vouched with the help of
A.Directors minutes book
B.Shareholders minutes book
C.Contract with the party concerned
D.Cash book

685.A company can issue Redeemable Preference shares, if authorized by
A.Memorandum of association
B.Articles of association
C.Companies Act, 1956
D.None of the above

686.Auditor should see that amount received for premium on issue of shares should be shown in
A.Subscribed capital
B.Capital Reserve Account
C.Share Premium account
D.Paid- up capital account

687.Share premium account should be shown in the Balance sheet under
A.Paid-up capital
B.Subscribed capital
C.Reserves & surplus
D.Reserved capital

688.Amount of share premium may be utilized for
A.Payment of dividend
B.Writing of preliminary expenses
C.Routine expenses
D.Purchase of fixed assets

689.Shares can be issued at discount under section
A.76
B. 75
C. 79
D. 89

690.Interest on calls paid in advance, according to Table A, should not exceed
A.6%
B. 5%
C. 10%
D. 14%

NOTE
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