Pakistan Accounting Standards MCQs 2026

Authorized share capital in accounting refers to

1. A amount received above par value of shares ✓
2. B offer to existing shareholders to buy new shares ✓
3. C unpaid portion on partly paid shares ✓
4. D maximum shares company may issue ✓

Issued share capital in accounting refers to

1. A shares issued to existing holders from reserves ✓
2. B cancellation of shares for non-payment ✓
3. C shares actually allotted to shareholders ✓
4. D shares with preferential dividend or capital rights ✓

Paid-up capital in accounting refers to

1. A offer to existing shareholders to buy new shares ✓
2. B unpaid portion on partly paid shares ✓
3. C equity shares with voting rights ✓
4. D amount paid by shareholders on issued shares ✓

Share premium in accounting refers to

1. A cancellation of shares for non-payment ✓
2. B shares with preferential dividend or capital rights ✓
3. C amount received above par value of shares ✓
4. D maximum shares company may issue ✓

Bonus shares in accounting refers to

1. A unpaid portion on partly paid shares ✓
2. B equity shares with voting rights ✓
3. C shares actually allotted to shareholders ✓
4. D shares issued to existing holders from reserves ✓

Rights issue in accounting refers to

1. A shares with preferential dividend or capital rights ✓
2. B maximum shares company may issue ✓
3. C offer to existing shareholders to buy new shares ✓
4. D amount paid by shareholders on issued shares ✓

Forfeiture of shares in accounting refers to

1. A equity shares with voting rights ✓
2. B shares actually allotted to shareholders ✓
3. C cancellation of shares for non-payment ✓
4. D amount received above par value of shares ✓

Calls in arrears in accounting refers to

1. A maximum shares company may issue ✓
2. B unpaid portion on partly paid shares ✓
3. C amount paid by shareholders on issued shares ✓
4. D shares issued to existing holders from reserves ✓

Preference shares in accounting refers to

1. A shares actually allotted to shareholders ✓
2. B shares with preferential dividend or capital rights ✓
3. C amount received above par value of shares ✓
4. D offer to existing shareholders to buy new shares ✓

Ordinary shares in accounting refers to

1. A equity shares with voting rights ✓
2. B amount paid by shareholders on issued shares ✓
3. C shares issued to existing holders from reserves ✓
4. D cancellation of shares for non-payment ✓

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

1. A debit and credit both affected so the equation stays balanced ✓
2. B ignore the transaction until next fiscal year ✓
3. C record only one side of the entry ✓
4. D post directly to retained earnings without analysis ✓