FIAC 5112

According to Section 1 of the Companies Act, there are 2 types of companies:

• Private and public companies

• a.       Private companies and state-owned companies

• a.       Public companies and non-profit companies

• Profit and non-profit companies

Authorised share capital is the same as issued share capital

• True

• False

• All of the above

• None of the above

1.      Issuing shares is a mechanism a company can adopt to raise finance, in the form of equity.

• Bonus shares and ordinary shares

• Ordinary shares and preference shares

• participating preference shares and cumulative preference shares

• all of the above

1.      Issuing shares is a mechanism a company can adopt to raise finance, in the form of equity.

• True

• False

1.      An invitation to the public to buy shares.

• Prospectus

• Debentures

• Rights offering

• Bonus shares

1.      Is not an integral heading of the cash flow statement

• a.       Cash generated from operations

• a.       Cash flows from investing activities

• Donations Income

• a.       Cash flows from financing activities.

1.      Does not form part of the property plant and equipment (PPE) note.

• Fixed deposit

• Land and buildings

• vehicles

• Equipment

When an account is written off, we debit the :

• Profit and loss

• credit loss

• allowance for credit loss

• an account should never be written off

all are found in the statement of changes in equity, except:

• Asset disposal

• Ordinary share capital

• general reserve

• retained income

Is generally regarded as the father of accounting

• Luca di Pacioli

• Socrates

• Marco Polo

• Hippocrates