📝 One-liners · 65 cards
COMPANY ACCOUNTS
What is a company as defined under the Companies Act, 2013?
A company is an artificial juridical person incorporated under the Companies Act with a separate legal identity, perpetual succession, and limited liability for its members.
What is meant by 'paid-up capital' in company accounts?
Portion of subscribed capital actually paid by shareholders.
What are the two main types of share capital a company can issue?
A company can issue equity share capital (ordinary shares carrying voting rights and residual profits) and preference share capital (shares with preferential rights to dividend and capital repayment).
What is a 'reserve capital' and how does it differ from capital reserve?
Reserve capital is uncalled capital reserved for winding up only.
🔒
Unlock 65 revision one-liners
Interactive flashcard deck — flip every card to drill questions and answers, mark the ones you got wrong, and revise smarter for COMPANY ACCOUNTS.
🪙
Unlock cost
300 coins
30-day access · re-unlocks free for 30 days