Refresh or test your accounting knowledge on Limited Companies:
| QUESTIONS:1.0 What is the meaning of “limited liability”?
2.0 List four of the statutory books which companies must maintain? 3.0 What is the difference between issued capital and called-up capital? 4.0 What are the differences between ordinary shares and preference shares? 5.0 What are the differences between debentures and share capital? 6.0 How does a share premium account arise? 7.0 Distinguish between a bonus issue and a rights issue 8.0 Give two examples of contingent liabilities
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