Financial Accounting Nov/Dec 2015

Section A: Theory of Financial Accounting

Question 4

 

  1. (a) Explain two types of limited liability company.


    (b) Explain the following terms:
    (i) Authorized capital;
    (ii) Issued capital;
    (iii) Loan capital;
    (iv) Called-capital;
    (v) Paid-up capital.

 

Observation

Majority of the candidates attempted the questions and their performance was very good.