Pakistan Accounting Standards MCQs 2026

Authorized share capital in accounting refers to

1. Aamount received above par value of shares✓
2. Boffer to existing shareholders to buy new shares✓
3. Cunpaid portion on partly paid shares✓
4. Dmaximum shares company may issue✓

Issued share capital in accounting refers to

1. Ashares issued to existing holders from reserves✓
2. Bcancellation of shares for non-payment✓
3. Cshares actually allotted to shareholders✓
4. Dshares with preferential dividend or capital rights✓

Paid-up capital in accounting refers to

1. Aoffer to existing shareholders to buy new shares✓
2. Bunpaid portion on partly paid shares✓
3. Cequity shares with voting rights✓
4. Damount paid by shareholders on issued shares✓

Share premium in accounting refers to

1. Acancellation of shares for non-payment✓
2. Bshares with preferential dividend or capital rights✓
3. Camount received above par value of shares✓
4. Dmaximum shares company may issue✓

Bonus shares in accounting refers to

1. Aunpaid portion on partly paid shares✓
2. Bequity shares with voting rights✓
3. Cshares actually allotted to shareholders✓
4. Dshares issued to existing holders from reserves✓

Rights issue in accounting refers to

1. Ashares with preferential dividend or capital rights✓
2. Bmaximum shares company may issue✓
3. Coffer to existing shareholders to buy new shares✓
4. Damount paid by shareholders on issued shares✓

Forfeiture of shares in accounting refers to

1. Aequity shares with voting rights✓
2. Bshares actually allotted to shareholders✓
3. Ccancellation of shares for non-payment✓
4. Damount received above par value of shares✓

Calls in arrears in accounting refers to

1. Amaximum shares company may issue✓
2. Bunpaid portion on partly paid shares✓
3. Camount paid by shareholders on issued shares✓
4. Dshares issued to existing holders from reserves✓

Preference shares in accounting refers to

1. Ashares actually allotted to shareholders✓
2. Bshares with preferential dividend or capital rights✓
3. Camount received above par value of shares✓
4. Doffer to existing shareholders to buy new shares✓

Ordinary shares in accounting refers to

1. Aequity shares with voting rights✓
2. Bamount paid by shareholders on issued shares✓
3. Cshares issued to existing holders from reserves✓
4. Dcancellation of shares for non-payment✓

Company shares scenario 2: a Pakistani unlisted private company must correctly handle share issue

1. Adebit and credit both affected so the equation stays balanced✓
2. Bignore the transaction until next fiscal year✓
3. Crecord only one side of the entry✓
4. Dpost directly to retained earnings without analysis✓