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Accounting for share Capital Test - 29

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Accounting for share Capital Test - 29
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Weekly Quiz Competition
  • Question 1
    1 / -0
    Share holders are entitled to ___________.
  • Question 2
    1 / -0
    Equity shareholders are the __________.
    Solution
    Shareholders of a company are the owners of the company owning equity shares issued by the company. The Memorandum and Articles of Association of the company prescribe the rights and obligations of shareholders. Since, equity shareholders accept the business risks in real sense, they are the real owners of the company. 
    The control of the company is vested in equity shareholders.
  • Question 3
    1 / -0
    Which of these is one of the condition for issue of sweat equity shares by a company?
  • Question 4
    1 / -0
    Which of the following statement is true?
  • Question 5
    1 / -0
    Statutory corporations are created under ______________.
    Solution
    A statutory corporation is a corporation created by the state.They are enterprises brought into existence by a Special Act of the Parliament.
    The Act defines its powers and functions, rules and regulations governing its employees and its relationship with government departments. It is a corporate person and has the capacity of acting in its own name.
  • Question 6
    1 / -0
    Which Amendment Act permits a company to issue equity share capital with differential rights as to dividend, voting or otherwise?
  • Question 7
    1 / -0
    Which of these is an example of a Statutory Company?
    Solution
    Statutory corporations are public enterprises brought into existence by a Special Act of the Parliament. 
    LIC is a statutory body established by an act of parliament. It is wholly owned by the Govt. of India at present. RBI (reserve bank of India) & State Bank of India is accountable to public & parliament.
  • Question 8
    1 / -0
    The name of a private company ends with __________.
    Solution
    The name of  a company is the indicator of its legal status . As such, by a bare look  at the name of the company . a man should understand whether it is private or public company.
    As per section 2 (68) of the Companies Act, 2013 ,
    A private limited company should mention  at the end of their company's name either "private limited" or "Pvt. Ltd".
  • Question 9
    1 / -0
    Existing private/ closely held company with a three years track record of consistent profitability can issue shares at _________.
  • Question 10
    1 / -0
    The name of a public company should end with _________.
    Solution
    The name of  a company is the indicator of its legal status. As such by a bare look  at the name of the company. A man should understand whether it is private or public company.
    As per section 2 (71) of the Companies Act, 2013.
    A public limited company should mention at the end of their company's name either "Limited" or "Ltd".

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