Which of the following are correct with respect to Rule 3 of the Companies (Incorporation) Rules, 2014 for One Person Company?

A. Only a natural person being an Indian citizen and resident in India can form one person company.

B. It cannot carry out non-banking financial investment activities.

C. Its paid up share capital is not more than Rs. 50 Lakhs.

D. Its average annual turnover of three years does not exceed Rs. 5 Crores.

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what amount is to be refunded while allotting shares on a Pro-rata basis

Which of the following is true in relation to a company and the issue of shares ?

A. A company is an artificial person with separate legal entity, perpetual succession and a common seal.

B. Share calls are to be made as per the provisions of the articles of association.

C. Minimum subscription of 75% is must for issue of shares.

D. The procedure for accounting for the issue of both equity and preference shares is the same. To differentiate between the two, the words 'Equity' and 'Preference' is prefixed to each and every instalment.

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The amount transferred to Capital Reserve would be

Calls in arrears are shown in the balance sheet as.

A reserve portion of uncalled capital (Reserve capital) can be called by company:

Jain and Co. purchased a machine from Young Life Machine Limited for Rs.3,80,000. As per the purchase agreement, Rs. 20,000 were paid in cash and balance by issue of shares of Rs.100 each. How many shares are issued if the shares are issued at 20% premium.