Liquidation of Companies MCQ’s | Financial Accounting (Free Resource)

Liquidation of Companies MCQ

Liquidation of Companies MCQ
Liquidation of Companies MCQ

1. A company can be liquidated in any of following ways under the Companies Act, 2013 after 1-4-2017
(a) Compulsory winding-up by the Tribunal
(b) Voluntary winding-up by the Members or Creditors
(c) Winding-up under the supervision of the Court
(d) All of the above

2. List H shows Account.
(a) Deficiency or Surplus
(b) Preferential Creditors
(c) Fixed Assets Account
(d) None of the above

3. When a company is wound-up, all persons who ceased to be the shareholders within a year before the winding-up are placed in the
(a) ‘A’ List of Contributories
(b) ‘B’ List of Contributories
(c) ‘C’ List of Contributories
(d) ‘D’ List of Contributories

4. If default is made in delivering the annual return to the Registrar, the company is likely to face
(a) compulsory winding up by the tribunal
(b) voluntary winding up by members
(c) voluntarily winding up by creditors
(d) none of the above

5. Following is treated as over-riding preferential creditor
(a) Retirement benefits of employees
(b) Retirement benefits to workers
(c) Salary due to employees exceeding Rs 20,000
(d) Remuneration to investigator

6. Remuneration to investigator upon investigation of the affairs of company is treated as
(a) Secured creditor
(b) Over-riding preferential creditor
(c) Preferential creditor
(d) Unsecured creditor

7. Amount of Govt. dues that arose within 12 months before the date of winding up is treated as
(a) Secured creditor
(b) Over-riding preferential creditor
(c) Preferential creditor
(d) Unsecured creditor

8. Amount of Retirement benefits of employees exceeding Rs 20,000 per employee is treated as
(a) Secured creditor
(b) Over-riding preferential creditor
(c) Preferential creditor
(d) Unsecured creditor

9. Preference dividend in arrears on the date of winding up is
(a) treated as Secured creditor
(b) treated as Over-riding preferential creditor
(c) treated as Preferential creditor
(d) added to Preference Share Capital

10. Amount of calls in advance is treated as
(a) Secured creditor
(b) Asset not specifically pledged
(c) Preferential creditor
(d) Unsecured creditor

Answers: 1)Compulsory winding-up by the Tribunal 2)Deficiency or Surplus 3)’B’ List of Contributories 4)compulsory winding up by the tribunal 5)Retirement benefits to workers 6)Preferential creditor 7)Preferential creditor 8)Preferential creditor 9)added to Preference Share Capital 10)Unsecured creditor

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