[Solved] __________ shares cannot be issued if the company makes any default in the payment of its obligation.

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__________ shares cannot be issued if the company makes any default in the payment of its obligation.

a) Preference

b) Equity

c) Deferred

d) Bonus

Answer: (d) Bonus shares cannot be issued if the company makes any default in the payment of its obligation.

More MCQ and Answers on Auditing

  1. Which among the following is not a right of company auditors.
  2. Test checking is done when there is an effective system of _________
  3. Test checking means
  4. Audit working papers are
  5. Current audit file consists of
  6. ____ begins where accounting ends.
  7. ________audit is compulsory for joint stock companies.
  8. Treating revenue expenditure as capital expenditure is an example of error of
  9. Financial statements are prepared by
  10. Preliminary expanses not written off are treated as

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