CUET Accountancy 2025 2 June Shift 2 PYQs

Which of the following statements about share capital is TRUE?

(A) A company's shares are generally transferable.

(B) Share application account is a personal account.

(C) The part of capital which is called up only on winding up of a company is called reserve capital.

(D) Paid up capital can exceed called up capital.

Choose the correct answer from the options given below:

The amount of Securities Premium can be used only for the following purposes:

(A) To write off preliminary expenses.

(B) To make partly paid shares as fully paid up.

(C) To issue fully paid bonus shares.

(D) Purchase of its own shares.

Choose the correct answer from the options given below:

Which of the following statement is incorrect -

A private company is one which by its articles of association:

1. Restricts the right to transfer its shares
2. A private company must have at least 2 persons, except in case of one person company
3. Its paid up share capital is not more than Rs. 50 Lakhs
4. Limits the number of its members to 200 (excluding its employees)