ACCA 2026 LW Corporate Law Share Capital Free Quiz 1

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ACCA 2026 LW Corporate Law Share Capital Free Quiz 1

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ACCA 2026 LW Corporate Law Share Capital Free Quiz 1

Practice ACCA 2026 LW Corporate Law MCQs from Share Capital. Get instant results with Explanation.

General10 MCQs

1. What is share capital?

A. Share capital is the same as debtB. Share capital is the equity of the company divided into shares; issued capital is shares allottedC. Share capital is only relevant for public companiesD. Share capital cannot be increased

2. What is the difference between ordinary and preference shares?

A. Ordinary shares have a fixed dividendB. Preference shares have no priority for dividendsC. Ordinary shares carry voting rights and variable dividends; preference shares have fixed dividends and priorityD. Preference shares are the same as ordinary shares

3. What is a share in legal terms?

A. A share is a chose in action representing the holder's rights in the companyB. A share is a physical certificateC. A share is a debt instrumentD. A share is a contract

4. What is the difference between nominal value and share premium?

A. The nominal value is the market value of the shareB. The share premium is the nominal valueC. The share premium is distributable as dividendsD. The nominal value is the face value; share premium is the excess over nominal and is non-distributable

5. What is the share premium account?

A. The share premium account is distributable as dividendsB. The share premium account is non-distributable but can be used for bonus issues and writing off expensesC. The share premium account is not required for public companiesD. The share premium account is the same as the retained earnings

General10 MCQs

6. What are the rules on allotment of shares?

A. Directors can allot shares without shareholder authorityB. Shares can be allotted at any time without restrictionsC. Allotment of shares requires authorisation (by articles or shareholders) and, for public companies, at least 25% paid upD. Allotment does not require any formalities

7. What is a rights issue and pre-emption rights?

A. A rights issue is an offer to existing shareholders to buy new shares in proportion to their holdingsB. A rights issue is an offer to the publicC. Pre-emption rights are the rights of directors to allot sharesD. Pre-emption rights do not apply to private companies

8. What are pre-emption rights under s.561?

A. Pre-emption rights apply to all allotments, including non-cashB. Pre-emption rights can never be disappliedC. Pre-emption rights are only for public companiesD. Pre-emption rights (s.561) give existing shareholders the right to be offered new shares for cash before others

9. What is a bonus issue?

A. A bonus issue involves issuing shares for cashB. A bonus issue is a capitalisation of reserves, issuing free shares to existing shareholdersC. A bonus issue increases the company's net assetsD. A bonus issue is the same as a rights issue

10. What is the principle of capital maintenance?

A. Capital maintenance rules are optionalB. Capital maintenance rules require that share capital be reduced frequentlyC. Capital maintenance rules protect creditors by ensuring share capital is not improperly reducedD. Capital maintenance rules are only for public companies

📋 ACCA - Test Online Practice Quizzes

ACCA

Conducting Body: Association of Chartered Certified Accountants

Frequency: Exam Frequency Year Round | Time: 360 Minutes

Negative Marking: No

⚡ Test Pattern (Total: 116 MCQs):

Business and Technology: 46 MCQs
Management Accounting: 35 MCQs
Financial Accounting: 35 MCQs
Corporate and Business Law: 45 MCQs

Merit Formula: -

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