741.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

742.A company can issue redeemable preference shares if authorized by
A.Memorandum of Association
B.Articles of Association
C.Companies Act-1956

743.A company can issue bonus shares if authorized by
A.Memorandum of Association
B.Articles of Association
C. Companies Act-1956

744.Interest on calls paid in advance according to table A, should not exceed
A.6%
B.5%
C.10%

745.For the forfeiture of shares, the auditor should check that it is permitted
A.Memorandum of Association
B.By articles of association
C. Under Companies Act 1956

746.Profits on reissue of forfeited Shares should be transferred to
A.Share forfeited Account
B.Capital Reserve Account
C.Profit and Loss Account

747.Shares issued for consideration other than cash should be vouched with the help of
A.Director’s minute Book
B.Shareholder’s minute Book
C.Contact with the party concerned

748.While checking the allotment of shares, the auditor should see that it is made within
A.100 days of issue of prospectus
B.120 days of issue of prospectus
C.150 days of issue of prospectus

749.Which of the following percentage of nominal amount of shares should be received with application
A.10
B.15
C.5

750.Accounting standards are prepared by
A.SEBI
B.RBI
C.ICAI
D.ITA

NOTE
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