MCQsMind — Pakistan's MCQ Platform

Forfeiture and Reissue of Shares MCQs for Competitive Exams

MCQS

Forfeiture and Reissue of Shares MCQs for Competitive Exams

Practice with answers, explanations, and exam-focused revision notes.

66 MCQs Page 2

Topic Notes: Forfeiture and Reissue of Shares

These notes summarize the key preparation context before you attempt the MCQs. Review the topic focus, then practice the questions below with answers and explanations.

Quick Overview

Forfeiture and Reissue of Shares MCQs in Commerce are useful for candidates who need targeted practice for CSS, PMS, FPSC, PPSC, NTS, entry tests, and other competitive exams in Pakistan. This topic page is designed for quick revision, repeated practice, and exam-focused preparation.

Attempt the questions page by page, check the correct answers, read the explanations where available, and compare your weak areas with past papers and mock test performance. Consistent MCQ practice improves speed, confidence, and retention for objective exam sections.

Want adaptive tracking for this topic?

Login to save wrong answers to your Mistake Bank and build your weakness heatmap automatically.

Session Progress 0 / 0 Solved
Reveal answers to start tracking your session progress!
11
Which of the following statements regarding the forfeiture of shares is incorrect?
Report
12
Following the reissue of forfeited shares, where is the remaining balance of the Share Forfeited Account transferred?
Report
13
If a share with a face value of Rs. 100, issued at a Rs. 5 discount, is forfeited after the full amount was called up due to non-payment of a Rs. 20 final call, what amount is debited to the Share Capital account?
Report
14
Calculate the amount credited to the share forfeited account after the reissue of 8 shares.
Report
15
A company forfeited 30 shares of Rs. 10 each for non-payment of Rs. 3 allotment and Rs. 4 call money. If these shares are reissued as fully paid at Rs. 8 per share, what is the amount transferred to the Capital Reserve?
Report
16
When shares are forfeited, which account is credited with the amount already received from the shareholder?
Report
17
A share with a face value of Rs. 20, originally issued at a Rs. 2 discount, was forfeited after Rs. 4 was paid. What is the maximum discount allowed upon reissuing this share?
Report
18
A company forfeited 30 shares of Rs. 10 each (fully called-up) due to non-payment of Rs. 3 (allotment) and Rs. 4 (call) per share. If these shares are reissued at Rs. 8 per share, what amount is transferred to the Capital Reserve?
Report
19
When forfeited shares are reissued at a discount, which account is debited to record the discount allowed?
Report
20
When shares are forfeited, which accounts are debited and credited respectively?
Report