'Bonus Shares' are issued by: MCQ with Answer and Explanation

Question
'Bonus Shares' are issued by:
A. Capitalizing reserves
B. Fresh issue to public
C. Rights issue
D. Private placement
Answer: Option A
Solution (By JKSSB Mock Tests)
Bonus shares are issued to existing shareholders without consideration, by capitalizing reserves.
This question belongs to: Accountancy and Statistics Accountancy and Book Keeping
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Practice More Accountancy and Book Keeping Questions

Question #1
Depreciation is provided on:
A. Fictitious assets
B. Fixed assets (tangible)
C. Intangible assets only
D. Current assets
Discuss
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Correct Answer: Option B

Explanation:
Depreciation is charged on tangible fixed assets like machinery, buildings to reflect wear and tear.
This question belongs to: Accountancy and Statistics Accountancy and Book Keeping
Question #2
Which of the following statements is correct?
A. A minor can be a full-fledged partner
B. Partners get interest on capital in all circumstances
C. Partners share profits equally always
D. Partners are entitled to salary if deed provides
Discuss
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Correct Answer: Option D

Explanation:
Salary to partners is allowed only if partnership deed provides. Interest on capital is not automatic. Profits sharing can be unequal. Minor cannot be a partner, only admitted to benefits.
This question belongs to: Accountancy and Statistics Accountancy and Book Keeping
Question #3
The 'Contingency Fund' of India is used for:
A. Interest payments
B. Unforeseen expenditure pending authorization by Parliament
C. Defense expenditure
D. Routine government expenses
Discuss
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Correct Answer: Option B

Explanation:
Contingency Fund is at the disposal of the President to meet urgent unforeseen expenditure.
This question belongs to: Accountancy and Statistics Accountancy and Book Keeping
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