Company : An Introduction — Important Questions
Telangana Open School (TOSS) · Class 12 · Accountancy
55 important questions from Company : An Introduction for Telangana Open School (TOSS) Class 12 Accountancy, with answers.
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Important Questions from Company : An Introduction
What is the face value of a share also known as?
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Nominal value
The face value of a share is also called its nominal or par value.
Which of the following companies is formed by a Special Act of Parliament?
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Statutory company
Statutory companies are created by a special act of Parliament or state legislature, like RBI or LIC.
What is the minimum paid-up capital for a private company?
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₹1 lakh
As per the Companies Act, a private company must have a minimum paid-up capital of ₹1 lakh.
Which of the following is NOT a characteristic of a company?
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Unlimited liability
Companies generally have limited liability. Unlimited liability is a feature of sole proprietorship or partnership.
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