What is the minimum number of members in a public company? The profit on reissue of forfeited shares is transferred to which account? Arrange the following in proper sequence as ty... What is the minimum number of members in a public company? The profit on reissue of forfeited shares is transferred to which account? Arrange the following in proper sequence as types of 'Share Capital'. Which act is the Special Act of the legislature or Parliament called? When forfeited shares are reissued, what is the maximum discount allowed? What is the minimum number of directors in a private limited company? What is the part of authorized capital which can be called up only on the company being wound up?
Understand the Problem
The question consists of multiple-choice queries related to company laws and financial concepts, specifically focusing on public and private companies, share capital, directors, and financial reserves. It is asking for specific numerical answers and definitions based on legal principles.
Answer
1. 7 members, 2. Capital Reserve, 3. Subscribed, Called up, Issued, Paid up, 4. Statutory Company, 5. Equal to amount forfeited, 6. 2 directors, 7. Reserve Capital
- 7 members (public company), 2. Capital Reserve, 3. (iii) Subscribed capital, (iv) Called up capital, (ii) Issued capital, (i) Paid up capital, 4. Statutory Company, 5. The maximum discount allowed is equal to the amount forfeited, 6. 2 directors, 7. Reserve Capital
Answer for screen readers
- 7 members (public company), 2. Capital Reserve, 3. (iii) Subscribed capital, (iv) Called up capital, (ii) Issued capital, (i) Paid up capital, 4. Statutory Company, 5. The maximum discount allowed is equal to the amount forfeited, 6. 2 directors, 7. Reserve Capital
More Information
The minimum number of members in a public company is 7. Profits on reissue of forfeited shares go to the capital reserve. Statutory companies are formed by special acts. Maximum discount on reissue equals the amount forfeited.
Tips
Ensure each type of capital is correctly sequenced: subscribed, then called up, issued, and paid-up.
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