ICOM Subject Objectives

ICOM Subject Objectives

(1) A joint stock company raises its capital by issuing……

a) Certificate of incorporation

b) Certificate of Commencement

c) Shares

d) Audit reports

e) A and B

Answer - Click Here:
C

(2) The equity of an owner in a company is usually called…

a) BOard of directors

b) Registrar

c) Promoters

d) Shareholders

e) All of the above

Answer - Click Here:
D

(3) Equity shareholders are called…….

a) Customers of the company

b) Debtors of the company

c) Creditors of the company

d) A and B

e) Owners

Answer - Click Here:
E

(4) A convertible preference is one of the shares which can be converted?

a) Founders shares

b) Deferred shares

c) Equity shares

d) Preference shares

e) All of the above

Answer - Click Here:
C

(5) Redeemed of preference share by…..

a) Registrar

b) Company

c) Shareholders

d) All of the above

Answer - Click Here:
B

(6) Debentures holders are called….

a) Customers of the company

b) Owners

c) Debentures

d) Creditors

e) None of the above

Answer - Click Here:
D

(7) A debenture stock is known as……

a) Tranferable debenture

b) Non transferable debenture

c) Converted debenture

d) Non converted debenture

e) None of these

Answer - Click Here:
C

(8) When share are alloted, the share capital of the company is….

a) Debited

b) Not debited

c) Not credited

d) Credited

e) All of the above

Answer - Click Here:
D

(9) Debentures are also known as…

a) Bonus

b) Bonds

c) Dividend

d) Certificate

e) Mortgage

Answer - Click Here:
B

(10) The discount on the issue of shares is normally not exceed then…..

a) 20%

b) 50%

c) 10%

d) 15%

e) 25%

Answer - Click Here:
C

(11) The nature of share capital account is…….

a) Personal account

b) Nominal account

c) Private account

d) Real account

e) None of the above

Answer - Click Here:
D

(12) The discount on issue of shares being a loss of ?

a) Expenditure

b) Revenue

c) Capital

d) Reserve

e) Lapses

Answer - Click Here:
C

 

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