company accounts

The liability of members is only limited to the value of shares held by them. this is ___________.

• liability limited by shares

• limited liability

• unlimited liability

• liability at will

__________is created out of uncalled capital.

• reserve capital

• capital reserve

• called up capital

• subscribed capital

_________ is created out of capital profits.

• reserve capital

• capital reserve

• called up capital

• subscribed capital

Amount of capital stated in MoA of company as its registered Capital

• Authorised Capital

• Share Capital

• Reserve Capital

• Paid up Capital

In the absence of any information , it is assumed that Securities Premium is due alongwith _________

• Application Money

• Allotment Money

• Call Money

• As per convenience

Amount of Securities Premium Reserve may be used only for

• Writing off preliminary expenses

• Buy back of its own shares

• issuing fully paid bonus shares

• writing off discount allowed on issue of shares or debentures

• all of the above

As per table F Of Schedule I of Companies Act 2013, the amount to be called up on application or on any call shall not exceed ___% of total quantum of the issue

• 20%

• 25%

• 30%

• 35%

Preliminary expenses include

• Exp. incurred on preparation & printing of various documents

• duty payable on authorised capital

• cost of preliminary expenses

• stamp duty & registration fee

• all of the above

Promoters of company may be issued shares for the services rendered by them. the entry will be:

• Incorporation cost a/c Dr.

  To Share capital a/c

• Formation Exp. a/c Dr.

  To Share capital a/c

• Either of the above

• None of the above

Company may allot shares to underwiters to pay their commission. the Entry will be

• Underwriting commission A/c dr.

  To Underwriters A/c

• Vendor A/c Dr.

  to Share Capital A/c

• No entry is required

• Either of the Above