POA - Accounting for Corporation

Which of the following types of investment carries a fixed rate of interest whether profit is made or not?

• Debentures

• Preference shares

• Cumulative preference

• Participating preference

Which of the following can have its shares traded on the stock exchange?

• A partnership

• A public company

• A private company

• A co-operative society

The reward of profit received by a shareholder in a limited company is called

• Interest

• Drawings

• Dividend

• Commission

A limited company's authorised capital is:

• the amount of shares that only company directors are allowed to own

• the number of share that the company is allowed to issue

• capital that has been authorized to be spent on non-current assets

• capital that has been authorized to be put into reserves.

Which of the following is shown in the income statement of a limited liability company?

• Dividends paid

• Auditors' fees

• Share premium

• Asset replacement reserve

Which of the following is shown in the appropriation account of a limited liability company?

• Directors' remuneration

• Debenture interest

• Dividends paid

• Share premium

Which of the following is a capital reserve?

• General Reserve

• Statement of profit and loss balance

• Asset Replacement Reserve

• Revaluation Reserve

In the statement of a financial position (balance sheet) of a limited liability company, which of the following is a current liability?

• Debentures (2019)

• Proposed dividends

• Preference share capital

• General reserve

BLT Limited's Board raised its funds through the stock exchange. Which of the following is this activity a feature of?

• A. Partnership

• B. Non-trading organization

• C. Corporation

• D. Cooperative Society Limited

An addition to the Profit and Loss account of partnerships and companies.

• Trading account

• Balance Sheet

• Appropriation account