Accounting 1AB tut

Authorised shares have voting rights

• True

• False

How many times is provisional tax paid in a year

• Once

• 3 times

• Twice

• What is provisional tax

What line items make up equity under the statement of financial position for a company that contain no-par shares only

• 
• Share Capital

• Retained Earnings

• Share premium

What line items make up equity under the statement of financial position for a company that contains both no-par shares and par shares

• Assets

• Share Capital

• Retained earning

• Share Premium

When a company issues no-par shares

1. Share issue costs are written off against Share Premium

• True

• False

VAT is applicable on initial cost incurred during incorporation of a company

• True

• False

Ordinary dividends can only be declared after preference dividends have been declared

• True

• False

What type of profit is Company XYZ LTD?

• SOC

• Private

• Public

• NPC