The minimum subscription in a public issue should be at least: MCQ with Answer and Explanation

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The minimum subscription in a public issue should be at least:

A. 75% of issued capital

B. 90% of issued capital

C. 50% of issued capital

D. 100%

Answer: Option B

Solution (By JKSSB Mock Tests)

As per SEBI, minimum subscription is 90% of the issue size for public offers.

This question belongs to: Accountancy and Statistics Accountancy and Book Keeping

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Practice More Accountancy and Book Keeping Questions

Question #1

The system of recording transactions based on both debit and credit aspects is called:

A. Double entry system

B. Cash basis system

C. Accrual basis system

D. Single entry system

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Correct Answer: Option A

Explanation:
Double entry system records every transaction with a debit and a corresponding credit.

This question belongs to: Accountancy and Statistics Accountancy and Book Keeping

Question #2

In the modern approach, an increase in asset is:

A. Debited

B. Transferred

C. No entry

D. Credited

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Correct Answer: Option A

Explanation:
In modern equation approach, increase in asset is debited; decrease credited.

This question belongs to: Accountancy and Statistics Accountancy and Book Keeping

Question #3

An auditor checking the arithmetical accuracy of the books performs what kind of check?

A. Compliance testing

B. Substantive testing

C. Analytical review

D. Routine checking

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Correct Answer: Option D

Explanation:
Routine checking involves casting (totalling), carry-forwards, and ledger posting verifications to ensure basic mathematical accuracy.

This question belongs to: Accountancy and Statistics Accountancy and Book Keeping

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