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
(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
(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
(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
(5) Redeemed of preference share by…..
a) Registrar
b) Company
c) Shareholders
d) All of the above
(6) Debentures holders are called….
a) Customers of the company
b) Owners
c) Debentures
d) Creditors
e) None of the above
(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
(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
(9) Debentures are also known as…
a) Bonus
b) Bonds
c) Dividend
d) Certificate
e) Mortgage
(10) The discount on the issue of shares is normally not exceed then…..
a) 20%
b) 50%
c) 10%
d) 15%
e) 25%
(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
(12) The discount on issue of shares being a loss of ?
a) Expenditure
b) Revenue
c) Capital
d) Reserve
e) Lapses
