Practice Basic Terms - 2.2.2 | Chapter 2: Joint Stock Company Accounts | ICSE Class 12 Accounts
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Practice Questions

Test your understanding with targeted questions related to the topic.

Question 1

Easy

What are equity shares?

πŸ’‘ Hint: Think about what happens to dividends as company profits change.

Question 2

Easy

Define Face Value.

πŸ’‘ Hint: Consider what you see printed on the stock certificate.

Practice 4 more questions and get performance evaluation

Interactive Quizzes

Engage in quick quizzes to reinforce what you've learned and check your comprehension.

Question 1

What are equity shares?

  • Shares with a fixed dividend
  • Shares with variable dividends
  • Not a share type

πŸ’‘ Hint: Think about how dividends change based on profits.

Question 2

True or False: Preference shareholders receive dividends after equity shareholders.

  • True
  • False

πŸ’‘ Hint: Consider who gets paid first in business.

Solve 2 more questions and get performance evaluation

Challenge Problems

Push your limits with challenges.

Question 1

A company issues 1,000 equity shares of β‚Ή100 face value at a premium of β‚Ή20. Calculate the total funds raised and explain the journal entries.

πŸ’‘ Hint: Remember to calculate the premium and how it affects cash flow.

Question 2

Illustrate the entries for redeeming β‚Ή50,000 debentures at a 10% premium after 5 years. Explain the importance of redemption reserves.

πŸ’‘ Hint: Consider the calculations of premium and how it impacts financial records.

Challenge and get performance evaluation