Chapter 21 Multiple Choice Questions

Quiz Content

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. What is a share's 'nominal value?'

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. What is a company's 'issued share capital?'

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. JME plc commences business and issues one million shares with a nominal value of £3 each. The company allows its allottees to pay £1.25 on allotment and the remainder at a later date. All the allottees chose to do this and all the shares are sold. What is JME plc's paid-up share capital?

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. The allotment of shares refers to the process whereby a person's name is entered into the register of members. True or False?

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. Regarding the company's power to allot shares, which one of the following statements is NOT true?

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. Which one of the following statements regarding pre-emption rights is NOT true?

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. In order to reduce capital, a public company must pass a special resolution and obtain court approval. True or False?

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. There are limitations on the issuing and redemption of redeemable shares. Which one of the following is NOT an actual limitation?

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. Which one of the following statements is true?

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. Regarding the distribution of profits, which one of the following statements is NOT true?

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