
CHAPTER 8 COMPANY FINANCE
Quiz
•
Social Studies
•
University
•
Practice Problem
•
Hard
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20 questions
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1.
MULTIPLE CHOICE QUESTION
45 sec • 2 pts
Zipper Ltd has 100 shares, each with a nominal value of £30 and £3 unpaid. Following an alteration of Zipper Ltd's share capital, the company now has 10,000 shares, each with a nominal value of 30 pence, with 27 pence paid up.
Requirement
Which of the following describes the alteration in share capital?
Consolidation
Subdivision
Redenomination
Increase in share capital
2.
MULTIPLE CHOICE QUESTION
45 sec • 2 pts
According to the rules on redemption of shares, are the following statements true or false?
1. In order for a private limited company to issue redeemable shares, the company's articles of association must contain the relevant authority.
2. Redeemable shares may only be issued where there are other shares issued that are not redeemable.
false; true
true; false
false; false
true; true
3.
MULTIPLE CHOICE QUESTION
1 min • 2 pts
Are the following statements true or false?
1. When shares in a limited company are redeemed, they are treated as cancelled, and the amount of the company's issued share capital is diminished by the amount of the redemption payment.
2. A company must file notice of redemption and a statement of capital with the Registrar of Companies within one month following a redemption of shares.
true; true
true; false
false; true
4.
MULTIPLE CHOICE QUESTION
45 sec • 2 pts
In which of the following situations may a public limited company lawfully offer financial assistance for the purchase of its shares (provided its net assets are not thereby reduced)?
1. Where the company lends money as part of its ordinary business
2. Where the company lends money to a director without a service contract in good faith to enable them to acquire fully paid shares in the company
3. Where the company gives assistance in the interests of the company for the purposes of an employee's share scheme.
(1) and (2) only
(1) and (3) only
(2) and (3) only
All of the above
5.
MULTIPLE CHOICE QUESTION
45 sec • 2 pts
Which of the following best defines a debenture?
A charge over a company's goodwill
The registration document used to register a fixed or floating charge
A document that records the terms of any loan
A document that records the terms of any secured loan
6.
MULTIPLE CHOICE QUESTION
45 sec • 2 pts
A charge may be avoided by a liquidator as a preference where it is created within a specified time before a company becoming insolvent.
Requirements
What is the specified time for a fixed charge?
What is the specified time for a floating charge?
6 months
1 month
6 months
9 months
6 months
12 months
1 month
3 months
7.
MULTIPLE CHOICE QUESTION
45 sec • 2 pts
Are the following statements true or false?
1. A floating charge created over the 'undertaking and assets' of a company applies only to current assets at the time of the charge.
2. A floating charge is converted into a fixed charge upon crystallisation. True C False
true; true
false; false
true; false
false; true
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