Quiz on Shares

Maximum number of members in a private company is :

• 7

• 200

• 20

• No Limit

According to Companies Act, Minimum Subscription has been fixed at ........... of the issued amount.

• 25%

• 50%

• 90%

• 100%

As per SEBI Guidelines, Application money should not be less than ................ of the issue price of each share.

• 10%

• 15%

• 25%

• 50%

A Company issued 50,000 shares of ₹20 each at 5% premium. ₹10 were payable on application and balance on allotment. What will be the allotment amount?

• ₹5,00,000

• ₹4,75,000

• ₹5,50,000

• ₹5,25,000

Interest on calls in arrears is charged according to Table F at:

• 6% p.a.

• 10% p.a.

• 5% p.a.

• 12% p.a.

Interest on calls in arrears is charged according to Table F at:

• 6% p.a.

• 10% p.a.

• 5% p.a.

• 12% p.a.

As per Table F, the Company is required to pay ............. interest on the amount of calls in advance

• 12% p.a.

• 5% p.a.

• 10% p.a.

• 6% p.a.

Following amounts were payable on issue of shares by a Company : ₹3 on application, ₹3 on allotment. ₹2 on first call and ₹2 on final call. X holding 500 shares paid only application and allotment money whereas Y holding 400 shares did not pay final call. Amount of calls in arrear will be :

• ₹3,800

• ₹2,800

• ₹1,800

• ₹6,200

The subscribed capital of a company is ?80,00,000 and the nominal value of the share is ? 100 each. There were no calls in arrear till the final call was made. The final call made was paid on,77,500 shares only. The balance in the calls in arrear amounted to ?62,500. Calculate the final call on share.

• ₹7

• ₹20

• ₹22

• ₹25

A shareholder holding 600 shares paid the amount of call @ ₹5 per share on 1st November 2018 whereas the call was due on 1st March 2019. Interest on calls in advance as per Table F will be :

• ₹45

• ₹60

• ₹50

• ₹120