ICA (Ghana) – Page 5

BCL – L1 – SA – Q82 – Company Directors

Type of shares held by managing directors.

Question

The managing directors hold the shares of the company.

A Deemed

B Equity

C Qualification

D Preference

Answer

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Tags: Company Law, Managing Director, Qualification Shares
Level: Level 1

Topic: Company directors and other officers

BCL – L1 – SA – Q81 – Company Directors

Who has control over a company’s affairs.

Question

A may be defined as a person having control over the affairs, conduct and management of a company.

A Shareholders

B Director

C Body Corporate

D Member

Answer

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Tags: Company Law, Director Role, Management Control
Level: Level 1

Topic: Company directors and other officers

BCL – L1 – SA – Q80 – Company Directors

Powers delegated by the board of directors.

Question

The board of directors delegate the power to

A Issue debentures

B Issue of shares

C Invest the fund

D Make loans

Answer

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Tags: Board Powers, Company Law, Delegation
Level: Level 1

Topic: Company directors and other officers

BCL – L1 – SA – Q79 – Alternative Forms

Who drafts the articles and memorandum of association.

Question

The articles of Association and the memorandum of Association are drafted by

A Auditor

B Director

C Secretary

D Register

Answer

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Tags: Articles of Association, Company Law, Memorandum Drafting
Level: Level 1

Topic: Alternative forms and constitutions of business organisations

BCL – L1 – SA – Q78 – Accounts and Audit

Who must audit a company’s accounts.

Question

Accounts of a company must be audited by an

A Chartered Accountant

B Auditor

C Board of Directors

D All of these

Answer

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Tags: Audit, Auditor Qualifications, Company Law
Level: Level 1

Topic: Accounts and Audit

BCL – L1 – SA – Q77 – Alternative Forms

Definition of a company as a voluntary association.

Question

is a voluntary association of persons formed to carry on some business for profit or to promote art, science, education or some charitable purpose.

A Incorporation

B Private company

C Company

D Public company

Answer

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Tags: Company Definition, Company Law, Voluntary Association
Level: Level 1

Topic: Alternative forms and constitutions of business organisations

BCL – L1 – SA – Q76 – Contract Law

Rights of a joint promisor who pays the full amount.

Question

A, B and C jointly promised to pay GH $60000 to D. A was compelled by D to pay the entire amount of GH $.60000$. Here

A A can file a suit against D for recovery of the amount exceeding his share

B A is entitled to recover Rs. 20000 each from B and C

C On payment by A, the contract is discharged, and B and C are also not liable to A

D D is not justified here and is liable to refund the entire amount to A

Answer

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Tags: Contract Law, Contribution, Discharge, Joint Promise
Level: Level 1

Topic: Contract Law

BCL – L1 – SA – Q75 – Contract Law

Effect of accepting an offer on offeror and offeree.

Question

On the acceptance of an offer by an offeree

A Only the acceptor becomes bound by accepting the offer

B Only the offeror becomes bound as his terms are accepted

C Both the acceptor and offeree become bound by the contract

D None of these

Answer

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Tags: Binding Contract, Contract Law, Offer Acceptance
Level: Level 1

Topic: Contract Law

BCL – L1 – SA – Q74 – Alternative Forms

Document not required for public company registration.

Question

Which of the following is the document that need not be ready and registered with the registrar of companies in public limited companies.

A statutory declaration

B memorandum of association

C articles of association

D director’s undertakings to take up and pay for qualification shares

Answer

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Tags: Company Law, Company registration, Public Limited Company
Level: Level 1

Topic: Alternative forms and constitutions of business organisations

BCL – L1 – SA – Q73 – Types of Capital

Whether a shareholder can be a debenture holder.

Question

A shareholder in a company can be/can’t be?

A can be its debenture holder

B cannot be its debenture holder

C alone can become its debenture holder

D must also become its debenture holder within a year of being a shareholder

Answer

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Tags: Company Law, Debenture Holders, Shareholders
Level: Level 1

Topic: Types of capital and the financing of companies

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BCL – L1 – SA – Q82 – Company Directors

Type of shares held by managing directors.

BCL – L1 – SA – Q81 – Company Directors

Who has control over a company’s affairs.

BCL – L1 – SA – Q80 – Company Directors

Powers delegated by the board of directors.

BCL – L1 – SA – Q79 – Alternative Forms

Who drafts the articles and memorandum of association.

BCL – L1 – SA – Q78 – Accounts and Audit

Who must audit a company’s accounts.

BCL – L1 – SA – Q77 – Alternative Forms

Definition of a company as a voluntary association.

BCL – L1 – SA – Q76 – Contract Law

Rights of a joint promisor who pays the full amount.

BCL – L1 – SA – Q75 – Contract Law

Effect of accepting an offer on offeror and offeree.

BCL – L1 – SA – Q74 – Alternative Forms

Document not required for public company registration.

BCL – L1 – SA – Q73 – Types of Capital

Whether a shareholder can be a debenture holder.

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Professional Body (SQ): ICA (Ghana)

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Who has control over a company’s affairs.

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Powers delegated by the board of directors.

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Who drafts the articles and memorandum of association.

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Who must audit a company’s accounts.

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Definition of a company as a voluntary association.

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Effect of accepting an offer on offeror and offeree.

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Document not required for public company registration.

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