Accounting - Study Mode
[#2106] Which of the following is not an alteration of capital?
Correct Answer
(D) Paid offpaid up capital in excess of needs of the company
[#2107] At present, a company limited by shares cannot issue . . . . . . . . preference shares.
Correct Answer
(B) irredeemable
[#2108] According to which of the following concepts even the owner of the business who provides capital treated as a creditor of the business?
Correct Answer
(A) Entity concept
[#2109] Discount on issue of debentures is a . . . . . . . .
Correct Answer
(A) capital loss
[#2110] The statutory meeting of a company is convened
Correct Answer
(B) once in the life time of the company
Explanation
Solution: The statutory meeting of a company is convened once in the life time of the company . A statutory meeting is a one-time meeting of shareholders and directors that occurs shortly after the company's incorporation. The purpose of this meeting is to discuss important matters such as the company's formation, appointment of directors, and initial financial matters. Therefore, the correct option is once in the life time of the company .