Capital of a company is divided in units, these small units are called: a) Shares b) Debentures c) Zero coupon bonds d) Bonus. Reliance Limited forfeited 2,000 shares of 20 each fo... Capital of a company is divided in units, these small units are called: a) Shares b) Debentures c) Zero coupon bonds d) Bonus. Reliance Limited forfeited 2,000 shares of 20 each for the non-payment of the final call of Rs.4 per share. These shares were reissued @ Rs.16 per share fully paid up. Find out the amount of capital reserve. a) 24000 b) 16000 c) 32000 d) 8000. Share Capital Account should be debited (at the time of forfeiture) with: a) Face/Nominal value of the share b) with the amount of calls in arrears c) Amount not paid by the share holders d) Called up amount. Securities premium reserve cannot be used a) writing off the differed revenue expenditures b) Buy back of shares c) Writing off preliminary expenses d) Working capital. Which Shares are issued by a company to its employees or directors for their hard work and dedication towards the company? a) Preference shares b) Bonus Shares c) Sweat Equity shares d) B and C both. What is the limit of Securities Premium on the issue of shares? a) 90% of the face value of the share b) 10% of the face value of the share c) 6% of the face value of the share d) Not specified. Read more