Corporate Accounting 2022

A Voluntary and autonomous association of persons with capital divided into numerous transferable shares is

• Company

• Soletradership

• Partnership

• Corporation

The kind of company in which the liability of each member is limited to the extent of face value of shares is 

• Limited Company

• Guaranteed Company

• Registered Company

• Unlimited Company

The minimum number of members in a public limited company is 

• 2

• 5

• 7

• 10

Share application account is a 

• real account

• personal account

• nominal account

• bank account

Public limited companies cannot issue 

• equity shares

• deferred shares

• preference shares

• nominal shares

The shares which are first offered to the existing shareholders are called 

• equity shares

• deferred shares

• preference shares

• rights shares

The minimum share application money is

• Re.1 per share

• 5% on the face value of the share

• 10% on the face value of the share

• 25% on the nominal value of the share

Equity shareholders are __________ of the company

• owners

• creditors

• debtors

• customers

The debentures are prefixed with a annual rate of

• interest

• dividend

• return

• profit

When shares are issued at a value greater than its face value then the shares are said to be issued at

• discount

• premium

• par

• fair