Find out incorrect statements about Authorised Capital of a company.

(A) It is the amount of share capital which a company is authorised to issue by its Memorandum of Association.

(B) It is the amount of share capital which a company is authorised to issue by its Articles of Association.

(C) It is also called Nominal capital.

(D) It can be increased or decreased as per the procedure decided by the shareholders of a company.

Choose the correct answer from the options given below:

Select the amount received on Share Allotment Account -

Identify the sequence of journal entries with regard to transfer of shares application money and allotment of shares:

(A) Share Allotment A/c Dr.

To Share Capital A/c

(B) Share Application A/c Dr.

To Share Capital A/c

(C) Bank A/c Dr.

To Share Allotment A/c

(D) Share Application A/c Dr.

To Bank A/c

Choose the correct answer from the options given below:

Which statements are correct-

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

(B) Shareholders of a company are liable for the acts of the company.

(C) The director of a company must be a shareholder.

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

Choose the correct answer from the options given below:

Select the correct statements related to shares and share capital :

(A) Authorized Share Capital and Nominal Share Capital are different from each other.

(B) Equity shares cannot be redeemed during the lifetime of the company.

(C) Preference shares are not the real owner of the company.

(D) Equity shares cannot be issued to the public at a discount.

Choose the correct statements from the options given below:

Rahul Limited purchased a building from Handa Limited for Rs.5,40,000 and the payment is to be made by the issue of shares of Rs.100 each. What will the number of shares to be issued when shares issued at a premium of 20%?

Which company must have at least two members?