1.Statement I: Ordinary Shares are preferred as to dividends

Statement II: Preference Shares have voting powers

a.Both Statements are True

b.Both Statements are False

c.Only Statement 1 is True

d.Only Statement 2 is True

2.Statement I: Ordinary Shares have Pre Emptive Right

Statement II: Ordinary Shares have Voting Rights

a.Both Statements are True

b.Both Statements are False

c.Only Statement 1 is True

d.Only Statement 2 is True

3.Statement I: Treasury Shares are part of Outstanding Shares

Statement II: Treasury share are Issued

a.Both Statements are True

b.Both Statements are False

c.Only Statement 1 is True

d.Only Statement 2 is True

4.Statement I: Shares issued above par value is allowed

Statement II: share issued below par value is allowed per accounting

a.Both Statements are True

b.Both Statements are False

c.Only Statement 1 is True

d.Only Statement 2 is True

5.Statement I: Subscription Receivable is Current if silent

Statement II: 25% of the Shares Subscribed must be paid

a.Both Statements are True

b.Both Statements are False

c.Only Statement 1 is True

d.Only Statement 2 is True

6.Statement I: Treasury Shares is part of Share Capital Line Item

Statement II: Appropriated Retained Earnings is part of the the Reserve Section of Equity

a.Both Statements are True

b.Both Statements are False

c.Only Statement 1 is True

d.Only Statement 2 is True

7.Statement I: Dividends Declared is a deduction to Retained Earnings

Statement II: Retained Earnings can have a Negative Balance

a.Both Statements are True

b.Both Statements are False

c.Only Statement 1 is True

d.Only Statement 2 is True

8.Statement I: The Excess of Treasure Shares Reissued at more than cost is credited to Share Premium

Statement II: Treasury Shares Reissued at below cost is charged primarily to Retained Earnings

a.Both Statements are True

b.Both Statements are False

c.Only Statement 1 is True

d.Only Statement 2 is True

9.Statement I: Share Split Up affects the Total Shareholder's Equity

Statement II: Share Split Down affects the Total Shareholder's Equity

a.Both Statements are True

b.Both Statements are False

c.Only Statement 1 is True

d.Only Statement 2 is True

10.Statement I: If rights are expired only a memorandum entry is required

Statement II: Share Warrant is the result of Pre Emptive Right

a.Both Statements are True

b.Both Statements are False

c.Only Statement 1 is True

d.Only Statement 2 is True

11.Statement I: Treasury Shares Retired are charged first to Retained Earnings

Statement II: Shares Acquired but not Cancelled is called Preference Shares

a.Both Statements are True

b.Both Statements are False

c.Only Statement 1 is True

d.Only Statement 2 is True

12.Statement I: Net Income is Added to Retained Earnings

Statement II: Net Loss id Deducted to Retained Earnings

a.Both Statements are True

b.Both Statements are False

c.Only Statement 1 is True

d.Only Statement 2 is True

13.Statement I: Donated Shares are part of Share Premium

Statement II: Preference Shareholders can exercise pre emptive right

a.Both Statements are True

b.Both Statements are False

c.Only Statement 1 is True

d.Only Statement 2 is True

14.Statement I: Share Option is an Equity Settled Share Based COmpensation

Statement II: Share Appreciation Right is a Cash Settled Share Based Compensation

a.Both Statements are True

b.Both Statements are False

c.Only Statement 1 is True

d.Only Statement 2 is True

15.Statement I: Compensation from Share Options aremeasured at Fair Value

Statement II: Share Based Compensatioin can be a Compound Instrument

a.Both Statements are True

b.Both Statements are False

c.Only Statement 1 is True

d.Only Statement 2 is True

16.Statement I: Intrinsic Value os the excess of theoptioin price over market value of share

Statement II: Dividends can be charged to Approriated retained Earnings

a.Both Statements are True

b.Both Statements are False

c.Only Statement 1 is True

d.Only Statement 2 is True

17.Statement I: Dividends are recorded at the date of Record

Statement II: Property Dividends are measured at Fair Value

a.Both Statements are True

b.Both Statements are False

c.Only Statement 1 is True

d.Only Statement 2 is True

18.Statement I: Large Stock Dividends are recorded at Par Value

Statement II: Small Stock Dividends are recorded at Fair Value

a.Both Statements are True

b.Both Statements are False

c.Only Statement 1 is True

d.Only Statement 2 is True

19.Statement I: Cash Dividends are recorded at Fair Value

Statement II: Property Dividends are treated as deduction to Retained Earnings

a.Both Statements are True

b.Both Statements are False

c.Only Statement 1 is True

d.Only Statement 2 is True

20.Statement I: Share Dividends Distributable are Liabilities

Statement II: Cash Dividends Payable are Liabilities

a.Both Statements are True

b.Both Statements are False

c.Only Statement 1 is True

d.Only Statement 2 is True