When shares are sold 'at par' it means they are issued at
The market value
The nominal value
A discount
A premium
Correct answer is B
When shares are issued at a price equal to their face value it is termed as shares issued at par. Par value is also known as nominal value or face value.
Which of the following reserves is not used for bonus shares?
Revolution reserve
Share premium
Capital redemption reserve fund
General reserve
Correct answer is C
Capital redemption reserves fund is a part of a company's reserves and capital from money invested in shares that is not allowed to be given to shareholders in the form of dividends.
A financial plan of action expressed in monetary terms is a/an
Warrant
Budget
Imprest
Consolidated fund
Correct answer is B
A budget is an estimation of revenue and expenses over a specified future period of time. Creating this spending plan allows you to determine in advance whether you will have enough money to do the things you need to do or would like to do. Budgeting is simply balancing your expenses with your income.
The document prepared for the disbursement of government fund is
An invoice
A receipt
A payment voucher
A bill
Correct answer is B
No explanation has been provided for this answer.
Branch stock adjustment account
Goods sent to branch account
Branch debtors account
Branch profit and loss account
Correct answer is B
When goods are sent to the branch office at cost we debit branch stock account and credit goods sent to branch account (at cost price)