CO.ACCOUNTS (ISSUE AND FORFITURE)

1. Forfeited shares are available to the company for the purpose of resale.

• TRUE

• FALSE

1. Authorised capital appears in the balance sheet at face value.

• TRUE

• FALSE

1. Loss on reissue should exceed the forfeited amount.

• TRUE

• FALSE

1. Liability of a holder of shares is limited to the face value of shares acquired by them.

• TRUE

• FALSE

1. The rate of dividend on preference shares may vary From year to year.

• TRUE

• FALSE

1. Non-participating preference shareholders enjoy voting rights.

• TRUE

• FALSE

1. Sweat equity shares are those which are issued to employees & directors at a discount.

• TRUE

• FALSE

1. As per Table F, rate of interest on calls in advance is 10%.

• TRUE

• FALSE

1. As per table F, rate of interest on calls in arrears is 12%.

• TRUE

• FALSE

1. A company may issue shares at a discount to the public in general.

• TRUE

• FALSE