Explain the following terms:
      (a)        fixed assets;
      (b)        certificate of trading;
      (c)        dividend;
      (d)        authorized capital;
      (e)       promoters;

observation

This was popular among the candidates but many provided inadequate answers to
certificate of trading and Promoters. The answers expected were as follows:
Certificate of Trading
      (i)         it is a document that enables a public limited company to commence business;
      (ii)        it is only issued after all the Companies Act conditions have been met;
      (iii)       it must be obtained within one year of Incorporation.
Promoter
             (i)      A promoter is an individual or group of people who conceive the idea of a company.
             (ii)     He undertakes to fulfil the legal requirements for the venture.