CAF-7 Ch-5 Share capital

CAF-7 | Ch-5 | Share capital

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CAF-7 Company Law Quiz offered for the ICAP CA students.

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Question 1 of 15

1. Question
1 points

Category: CAF7
In a company limited by shares, the share capital represents capital introduced into the company by the company’s
- Directors
- Guarantors
- Auditors
- Members
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Question 2 of 15

2. Question
1 points

Category: CAF7
Issuance of shares is the first step of offering shares by the company, then people or promoters pay for the shares this is termed as
- Subscription of shares
- Transfer of shares
- Payment of shares
- Selling of shares
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Question 3 of 15

3. Question
1 points

Category: CAF7
The issued share capital is the nominal value of the shares that have been issued to shareholders. The issued share capital
- Maybe more than the authorized share capital
- Must be more than the authorized share capital
- Maybe less than the authorized share capital
- Must be equal to the authorized share capital
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Question 4 of 15

4. Question
1 points

Category: CAF7
In Pakistan, all companies limited by shares are required to have an authorized share capital and the amount of the authorized share capital can be increased but
- Only with the approval of the directors
- Only with the approval of the shareholders
- Only with the approval of the registrar
- Only with the approval of the creditors
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Question 5 of 15

5. Question
1 points

Category: CAF7
When the shares are issued, the shareholders must
- Give their consent in written form
- Appoint two persons as their proxy
- Pay for the shares in full
- Apply for special privileges
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Question 6 of 15

6. Question
1 points

Category: CAF7
If the company goes into liquidation with unpaid debts, the shareholders will
- Be liable personally to contribute to the company’s debts
- Not be required to contribute to the company’s debts
- Be liable to contribute 50% of the unpaid debts
- Be liable to contribute 75% of the unpaid debts
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Question 7 of 15

7. Question
1 points

Category: CAF7
Ordinary shares are also called
- Equity shares
- Bonus shares
- Founders shares
- deferred Shares
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Question 8 of 15

8. Question
1 points

Category: CAF7
The ordinary shareholders are entitled to vote at general meetings of the company. Normally all ordinary shareholders have
- Ten votes per share
- One vote per ten shares
- One vote per share
- As mush vote as they wish
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Question 9 of 15

9. Question
1 points

Category: CAF7
A preference share normally carries as prior right (ahead of ordinary shares) to
- Receive a salary which is normally a fixed amount each year
- Receive a repayment of capital in the event of winding up
- Vote in the general meeting
- None of the above
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Question 10 of 15

10. Question
1 points

Category: CAF7
What type of resolution is required to alter the capital clause of the memorandum of association
- Ordinary resolution
- Special resolution
- Ordinary resolution of 30 days’ notice
- Special resolution of 30 days’ notice
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Question 11 of 15

11. Question
1 points

Category: CAF7
After the alteration in the capital clause of MOA, the company is required to file the resolution and the related documents i.e. altered copy of the MOA with the registrar within
- 15 days
- 30 days
- 60 days
- 90 days
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Question 12 of 15

12. Question
1 points

Category: CAF7
If the variation affects the substantive rights of any particular class of shareholders, it shall not be deemed to have been carried out unless
- A two-thirds majority of that particular class agree to the alterations.
- Fifty-one percent majority of that particular class agree to the alterations.
- Three fourth majority of that particular class agree to the alterations
- Seventy percent majority of that class agree to the alterations
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Question 13 of 15

13. Question
1 points

Category: CAF7
Any member or members of the affected class representing at least 10 percent shareholding of that class may apply for an order against the resolution varying their rights. They will apply to
- The registrar
- The Commission
- The board of directors
- The Court
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Question 14 of 15

14. Question
1 points

Category: CAF7
In case of variation in shareholders’ rights of a particular class of members, 10% or more of the class of shareholders who are aggrieved by the variation of their rights may apply to the court, for an order cancelling the variation within
- 14 days
- 21 days
- 30 days
- None of the above is correct
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Question 15 of 15

15. Question
1 points

Category: CAF7
In case of variation in shareholders’ rights of a particular class of members, the court may give its decision in favour or against the special resolution by the company. The company is required to forward a copy of the court decision to the registrar within
- 14 days of receipt of the order
- 15 days of receipt of the order
- 30 days of receipt of the order
- None of the above is correct
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