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The issued share capital of Alpha, a limited liability company, is as follows:
Ordinary shares of 10c each
<span style="COLOR: #,000,000
<span style="COLOR: #% Redeemable preference shares of 50c each
<span style="COLOR: #0,000
In the year ended 31 October 20X2, the company has paid the preference dividend for the year and an interim dividend of 2c per share on the ordinary shares. A final ordinary dividend of 3c per share was proposed, before the reporting date.
What would be recognised for dividends in the equity section of the statement of financial position at 31 October 20X2?
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Notice: Undefined variable: _SESSION in /backup/q_wwwdedecms/q_wwwdedecms/2/0/3/p/2/g.html on line 623With precise details to light, the sale situation of the company is improving. A. to be thr——精英家教网——
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With precise details to light, the sale situation of the company is improving. A. to be thrown B. having come C. to come D. throwing 【】
题目列表(包括答案和解析)
BEIJING—Eating at a Beijing restaurant is usually an adventure for foreigners, and particularly when they get the chance to order “chicken without sex life” or “red burned lion head”.Sometimes excited but mostly confused, embarrassed or even terrified, many foreigners have long complained about mistranslations of Chinese dishes. And their complaints are often valid(有效), but such an experience at Beijing’s restaurants will apparently soon be history.Foreign visitors will no longer, hopefully, be confused by oddly worded restaurant menus in the capital if the government’s plan to correctly translate 3,000 Chinese dishes is a success and the translations are generally adopted.The municipal(市政) office of foreign affairs has published a book to recommend English translations of Chinese dishes, which aims to help restaurants avoid bizarre translations. “It provides the names of main dishes of famous Chinese cuisines in plain English,” an official with the city’s Foreign Affairs office said. “Restaurants are encouraged to use the proposed translations, but it will not be compulsory.” It’s the city’s latest effort to bridge the culture gap for foreign travelers in China.Coming up with precise translations is a daunting task, as some Chinese culinary(烹饪) techniques are untranslatable and many Chinese dishes have no English-language equivalent. The translators, after conducting a study of Chinese restaurants in English-speaking countries, divided the dish names into four categories: ingredients, cooking method, taste and name of a person or a place. For some traditional dishes, pinyin, the Chinese phonetic system, is used, such as mapo tofu(previously often literally translated as “beancurd made by woman with freckles”), baozi(steamed stuffed bun) and jiaozi(dumplings) to “reflect the Chinese cuisine culture,” according to the book.“The book is a blessing to tourist guides like me. Having it, I don’t have to rack my brains trying to explain Chinese dishes to foreign travellers,” said Zheng Xiaodong, a 31-year-old employee with a Beijing-based travel agency.“I will buy the book as I major in English literature and I’d like to introduce Chinese cuisine culture to more foreign friends,” said Han Yang, a postgraduate student at the University of International Business and Economics.It is not clear if the book will be introduced to other parts of China. But on Tuesday, this was the most discussed topic on <, China’s most popular microblogging site.【小题1】What’s the best title of the passage?A．An adventure for foreigners who eat in Beijing.B．Confusing mistranslations of Chinese dishes.C．Chinese dishes to have “official” English names.D．The effort to bridge the culture gap.【小题2】 “chicken without sex life” or “red burned lion head” are mentioned in the beginning of the passage to show&&&&&&&&&&&&&&.A．some Chinese dishes are not well receivedB．some Chinese dishes are hard to translateC．some Chinese dishes are mistranslatedD．some Chinese dishes are not acceptable【小题3】What measure has the municipal office taken?A．Recommending a book on Chinese dishes.B．Advocating(提倡) using precise translation for Chinese dishes.C．Publishing a book on China’s dietary habits.D．Providing the names of main Chinese dishes.【小题4】What’s the meaning of daunting in paragraph 5?A．confusingB．disappointingC．discouragingD．Worthwhile
BELJLNG-Eating at a Beijing restaurant is usually an adventure for foreigners, and particularly when they get the chance to order “chicken without sex life” or “red burned lion head”.Sometimes excited but mostly confused, embarrassed or even terrified, many foreigners have long complained about mistranslations of Chinese dishes. And their complaints are often valid, but such an experience at Beijing’s restaurants will apparently soon be history.Foreign visitors will no longer, hopefully, be confused by oddly worded restaurant menus in the capital if the government’s plan to correctly translate 3,000 Chinese dishes is a success and the translations are generally adopted.The municipal（市政）office of foreign affairs has published a book to recommend English translations of Chinese dishes, which aims to help restaurants avoid bizarre translations. It provides the names of main dishes of famous Chinese cuisines in plain English, “an official with the city’s Foreign Affairs office said .” Restaurants are encouraged to use the proposed translations, but it will not be compulsory .“ It’s the city’s latest effort to bridge the culture gap for foreign travelers in China.Coming up with precise translations is a daunting task, as some Chinese culinary techniques are untranslatable and many Chinese dishes have no English-language equivalent.The translators, after conducting a study of Chinese restaurants in English-speaking countries, divided the dish names into four categories: ingredients, cooking method, taste and name of a person or a place. For some traditional dishes, pinyin, the Chinese phonetic system, is used, such as mapo tofu(previously often literally translated as “beancurd made by woman with freckles”), baozi(steamed stuffed bun ) and jiaozi (dumplings) to “reflect the Chinese cuisine culture,” according to the book.“The book is a blessing to tourist guides like me. Having it, I don’t have to rack my brains trying to explain Chinese dishes to foreign travellers,” said Zheng Xiaodong, a 31- year – old employe with a Beijing- based travel agency.“I will buy the book as I major in English literature and I’d like to introduce Chinese cuisine culture to more foreign friends,” said Han Yang, a postgraduate student at the University of International Business and Economics.It is not clear if the book will be introduced to other parts of China. But on Tuesday, this was the most discussed topic on weibo. com, China’s most popular microblogging site.【小题1】&&&&&&&&&&What’s the best title of the passage?A．An adventure for foreigners who eat in Beijing.B．Confusing mistranslations of Chinese dishesC．Chinese dishes to have “official” English namesD．The effort to bridge the culture gap【小题2】&&&&&&&&&&“chicken without sex life” or “red burned lion head” are mentioned in the beginning of the passage to show&&&&&.A．some Chinese dishes are not well receivedB．some Chinese dishes are hard to translateC．some Chinese dishes are mistranslatedD．some Chinese dishes are not acceptable【小题3】&&&&&&&&&&What measure has the municipal office taken?A．Recommending a book on Chinese dishesB．Advocating using precise translation for Chinese dishesC．Publishing a book on China’s dietary habitsD．Providing the names of main Chinese dishes【小题4】&&&&&&&&&&What’s the meaning of daunting in paragraph 5?A．confusingB．disappointingC．discouragingD．worthwhile【小题5】&&&&&&&&&&What’s the attitude of most people to the book according to the passage?A．not clearB．excitedC．favorableD．divided
BELJLNG-Eating at a Beijing restaurant isusually an adventure for foreigners, and particularly when they get the chanceto order “chicken without sex life” or “red burned lion head”.Sometimes excited but mostly confused,embarrassed or even terrified, many foreigners have long complained aboutmistranslations of Chinese dishes. And their complaints are often valid, butsuch an experience at Beijing’s restaurants will apparently soon be history.Foreign visitors will no longer, hopefully,be confused by oddly worded restaurant menus in the capital if the government’splan to correctly translate 3,000 Chinese dishes is a success and thetranslations are generally adopted.The municipal（市政）office of foreign affairs has published a bookto recommend English translations of Chinese dishes, which aims to helprestaurants avoid bizarre translations. It provides the names of main dishes offamous Chinese cuisines in plain English, “an official with the city’s ForeignAffairs office said .” Restaurants are encouraged to use the proposedtranslations, but it will not be compulsory .“ It’s the city’s latest effort tobridge the culture gap for foreign travelers in China.Coming up with precise translations is a dauntingtask, as some Chinese culinary techniques are untranslatable and many Chinesedishes have no English-language equivalent.The translators, after conducting astudy of Chinese restaurants in English-speaking countries, divided the dishnames into four categories: ingredients, cooking method, taste and name of aperson or a place. For some traditional dishes, pinyin, the Chinese phoneticsystem, is used, such as mapo tofu(previously often literally translated as“beancurd made by woman with freckles”), baozi(steamed stuffed bun ) and jiaozi(dumplings) to “reflect the Chinese cuisine culture,” according to the book.“The book is a blessing to tourist guideslike me. Having it, I don’t have to rack my brains trying to explain Chinesedishes to foreign travellers,” said Zheng Xiaodong, a 31- year – old employewith a Beijing- based travel agency.“I will buy the book as I major in Englishliterature and I’d like to introduce Chinese cuisine culture to more foreignfriends,” said Han Yang, a postgraduate student at the University ofInternational Business and Economics.It is not clear if the book will beintroduced to other parts of China. But on Tuesday, this was the most discussedtopic on weibo. com, China’s most popular microblogging site.1.&&&&&&&&&&What’sthe best title of the passage?
A．An adventure for foreigners who eat in Beijing.
B．Confusing mistranslations of Chinese dishes
C．Chinese dishes to have “official” English names
D．The effort to bridge the culture gap
2.&&&&&&&&&&“chickenwithout sex life” or “red burned lion head” are mentioned in the beginning ofthe passage to show&&&&&.
A．some Chinese dishes are not well received
B．some Chinese dishes are hard to translate
C．some Chinese dishes are mistranslated
D．some Chinese dishes are not acceptable
3.&&&&&&&&&&Whatmeasure has the municipal office taken?
A．Recommending a book on Chinese dishes
B．Advocating using precise translation for Chinese dishes
C．Publishing a book on China’s dietary habits
D．Providing the names of main Chinese dishes
4.&&&&&&&&&&What’sthe meaning of daunting in paragraph 5?
A．confusing
B．disappointing
C．discouraging
D．worthwhile
5.&&&&&&&&&&What’sthe attitude of most people to the book according to the passage?
A．not clear
B．excited
C．favorable
D．divided
Navigation computers, now sold by most car-makers, cost $2,000 and up. No surprise, then, that they are most often found in luxury cars, like Lexus, BMW and Audi. But it is a developing technology—meaning prices should eventually drop—and the market does seem to be growing. Even at current prices, a navigation computer is impressive. It can guide you from point to point in most major cities with precise turn-by-turn directions—spoken by a clear human-sounding voice, and written on a screen in front of the driver. The computer works with an antenna(天线) that takes signals from no fewer than three of the 24 global positioning system(GPS) satellites. By measuring the time required for a signal to travel between the satellites and the antenna, the car’s location can be noted down within 100 meters. The satellite signals, along with inputs on speed from a wheel-speed sensor and direction from a meter, determine the car’s position even as it moves. This information is combined with a map database. Streets, landmarks and points of interest are included. Most systems are basically identical. The differences come in hardware—the way the computer accepts the driver’s request for directions and the way it presents the driving instructions. On most systems, a driver enters a desired address, motorway junction or point of interest via a touch screen or disc. But the Lexus screen goes a step further: you can point to any spot on the map screen and get directions to it.
BMW’s system offers a set of cross hairs(瞄准器上的十字纹) that can be moved across the map (you have several choices of map scale) to pick a point you’d like to get to. Audi’s screen can be switched to TV reception. Even the voices that recite the directions can differ, with better systems like BMW’s and Lexus’s having a wider vocabulary. The instructions are available in French, German, Spanish, Dutch and Italian, as well as English. The driver can also choose parameters for determining the route: fastest, shortest or no freeways (高速公路), for example. 46. We learn from the passage that navigation computers______ . A. will greatly promote sales of automobiles
B. may help solve potential traffic problems C. are likely to be accepted by more drivers
D. will soon be viewed as a symbol of luxury 47. With a navigation computer, a driver will easily find the best route to his destination_______ . &&& A. by inputting the exact address
B. by indicating the location of his car C. by checking his computer database
D. by giving vocal orders to the computer 48. Despite their varied designs, navigation computers used in cars______. A. are more or less the same price
B. provide directions in much the same way C. work on more or less the same principles
D. receive instructions from the same satellites 49. The navigation computer functions _______. A. by means of a direction finder and a speed detector
B. basically on satellite signals and a map database ??&& C. mainly through the reception of turn-by-turn directions
&&& D. by using a screen to display satellite signals 50. The navigation systems in cars like Lexus, BMW and Audi are mentioned to show______ . A. the immaturity of the new technology
B. the superiority of the global positioning system C. the cause of price change in car equipment
D. the different ways of providing guidance to the driver
BEIJING—Eating at a Beijing restaurant is usually anadventure for foreigners, and particularly when they get the chance to order“chicken without sex life” or “red burned lion head”.Sometimes excited but mostly confused, embarrassed oreven terrified, many foreigners have long complained about mistranslations ofChinese dishes. And their complaints are often valid(有效), but such an experience at Beijing’s restaurantswill apparently soon be history.Foreign visitors will no longer, hopefully, beconfused by oddly worded restaurant menus in the capital if the government’splan to correctly translate 3,000 Chinese dishes is a success and thetranslations are generally adopted.The municipal(市政) office offoreign affairs has published a book to recommend English translations ofChinese dishes, which aims to help restaurants avoid bizarre translations. “Itprovides the names of main dishes of famous Chinese cuisines in plain English,”an official with the city’s Foreign Affairs office said. “Restaurants areencouraged to use the proposed translations, but it will not be compulsory.”It’s the city’s latest effort to bridge the culture gap for foreign travelersin China.Coming up with precise translations is a dauntingtask, as some Chinese culinary(烹饪) techniques areuntranslatable and many Chinese dishes have no English-language equivalent. Thetranslators, after conducting a study of Chinese restaurants inEnglish-speaking countries, divided the dish names into four categories:ingredients, cooking method, taste and name of a person or a place. For sometraditional dishes, pinyin, the Chinese phonetic system, is used, such as mapotofu(previously often literally translated as “beancurd made by woman withfreckles”), baozi(steamed stuffed bun) and jiaozi(dumplings) to “reflect theChinese cuisine culture,” according to the book.“The book is a blessing to tourist guides like me.Having it, I don’t have to rack my brains trying to explain Chinese dishes toforeign travellers,” said Zheng Xiaodong, a 31-year-old employee with aBeijing-based travel agency.“I will buy the book as I major in English literatureand I’d like to introduce Chinese cuisine culture to more foreign friends,”said Han Yang, a postgraduate student at the University of InternationalBusiness and Economics.It is not clear if the book will be introduced toother parts of China. But on Tuesday, this was the most discussed topic on <,China’s most popular microblogging site.1.What’s the best title of the passage?A．An adventurefor foreigners who eat in Beijing.B．Confusingmistranslations of Chinese dishes.C．Chinesedishes to have “official” Englishnames.D．The effort tobridge the culture gap.2. “chicken without sex life” or “red burned lionhead” are mentioned in the beginning of the passage to show&&&&&&&&&&&&&&.A．some Chinesedishes are not well receivedB．some Chinesedishes are hard to translateC．some Chinesedishes are mistranslatedD．some Chinesedishes are not acceptable3.What measure has the municipal office taken?A．Recommendinga book on Chinese dishes.B．Advocating(提倡) using precise translation for Chinese dishes.C．Publishing abook on China’s dietary habits.D．Providing thenames of main Chinese dishes.4.What’s the meaning of daunting in paragraph5?A．confusing&&&&&&&& B．disappointing&&&&&& C．discouraging&&&&&& D．Worthwhile&
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Redemption of Preference...
Redemption of Preference Shares
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Redemption of Preference Shares
The fund provided by the owners in to a business is known as capital. You know that capital of the business depends upon the form of business organization. From ownership point of view, there are number of business organizations like, sole proprietorship business, partnership business, cooperative societies, joint stock companies etc. Total capital of the company is divided into a number of small units of fixed amount and each such unit is called a share. The fixed value of a share register with the registrar of Companies is called face/ nominal value. However, a company can issue shares at a price different from its nominal value or face value. As the total capital of the company is divided into shares, the capital of the company is known as share capital. A company can issue two types shares equity shares and preference shares. The issue of preference shares is one of the important sources of capital of a company. Redemption is the process of repaying an obligation at predetermined amounts and timings. The redeemable preference shares are issued on the terms that share holders will at a future date be repaid amount which they invested in the company. According to the Companies Act, 1956, a company can issue only redeemable shares i.e. at present a company cannot issue irredeemable preference shares
|1.2 Types of Preference Shares
In previous sections we have discussed different sources of capital. Equity shares get dividend at a rate fixed at the Annual General Meeting (AGM) depending on the profit available for a particular year. The rate of dividend also varies from year to year. The preference shareholders contribute capital to the company. According to section 85 of the Companies Act, 1956, persons holding preference shares, called preference shareholders. They are assured of a preferential dividend at a fixed rate during the life of the company. This type share holders carry preferential right over other shareholders to be paid first in case of liquidation of the company. Companies use this mode of financing as it is cheaper than raising debt. The preference shares can be of various types. These are:
i) Redeemable Preference Shares: A company may issue this type of shares on the condition that the company will repay the amount of share capital to the holders of this category of shares after the fixed period or even earlier at the discretion of the company. Section 80 of the Companies Act, 1956 deals with the redemption of preference shares.
ii) Irredeemable Preference Shares: The preference shares, which do not carry the agreement of redemption are known as irredeemable preference shares.
iii) Convertible Preference Shares: This type of shares enjoy the right to the holder to get them converted into equity shares according to the terms and conditions of the issue.
iv) Non-convertible Preference Shares: The holders of these shares do not enjoy the right to get the shares converted into equity shares. Unless otherwise stated, Preference shares are non-convertible.
v) Participating Preference Shares: The holder of this type of preference shares enjoy the right to participate in the surplus profits, if any, after the equity shareholders have been paid dividend at a rate fixed in the AGM. So the shareholders get additional dividend with their normal dividend.
vi) Non-participating Preference Shares: These shares carry only a fixed rate of dividend without any right to get additional dividend. Unless otherwise stated, The preference shares are non-participating.
vii) Cumulative Preference Shares: The cumulative preference shares carry the right to a fixed amount of dividend. The holders of these shares are entitled to get dividend out of future profit if current year’s profit is insufficient for the same. So, the dividend on these shares accumulates till the final payment.
viii) Non-cumulative Preference Share: In this...
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...Preference share capital
Source: Wikipedia.org
Preferred stock, also called preferred shares (preferred), is a special equity security that has properties of both an equity and a debt instrument and is generally considered a hybrid instrument. These are senior (i.e. higher ranking) to common stock, but are subordinate to bonds.
Preferred stock usually carries no voting rights, but may carry a dividend and may have priority over common
stock in the payment of dividends and upon liquidation. Preferred stock may have a convertibility feature into common stock. Terms of the preferred stock are stated in a &Certificate of Designation&. Similar to bonds, preferred stocks are rated by the major credit rating companies. The rating for preference shares is generally lower since preferred dividends do not carry the same guarantees as interest payments from bonds and they are junior to all creditors.
Types of preferred stock include:
Cumulative and non-cumulative preference shares
* Cumulative preferred stock— If the dividend is not paid, it will accumulate for future payment. Non-cumulative preferred stock—Dividend for this type of preferred stock will not accumulate if it is unpaid. Very common in bank preferred stock, since under BIS rules, preferred stock must be non-cumulative if it is to be included in Tier 1 capital.[9]
Participating and non-participating...
...Preference Shares
As in section 4 of Company Act 1965, it interpret preference share as “a share by whatever name called, which does not entitle the holder thereof to the right to vote at the general meeting or to any right to participate beyond a specified amount in any distribution whether by way of dividend, or redemption, in wind up, or otherwise.” (the library book)
Besides that, section 66(1) of
Company Act 1965 also states that “No company shall allot any preference shares or convert any issued shares into preference shares unless there is set out in its memorandum or articles the rights of the holders of those shares with respect to repayment of capital, participation in surplus assets and profits, cumulative or non-cumulative dividends, voting, and priority of payment of capital and dividend in relation to other shares or other classes of preference shares.” (the library book)
Features of Preference Share
Firstly, preference shareholders will have their dividends paid first, from the profits made by the company, before the ordinary shareholders.
Secondly, preference shareholders enjoy fixed dividends, their return on investments, from the company where their shares are bought. That...
...What is Ordinary Shares
An ordinary share defines a single unit of equity ownership of a corporation, where the holders of the ordinary shares receive the right to cast a vote in decisions involving important corporate matters. Such votes are available to each ordinary shareholder in correspondence to the number of ordinary shares held within the company. Ordinary shareholders are the last to receive dividends, and are only entitled
to funds which remain after dividends on preferred shares are paid. Ordinary share holders may not receive dividend payments every year, and payments to ordinary shareholders depend on reinvestment decisions made by the company directors. In an event of the company facing liquidation, the ordinary shareholders will be the last to receive their share of funds, after the creditors and preference shareholders are paid. As such ordinary shares are riskier than bonds or preference shares. Ordinary shares are also referred to as ‘common stock’.
What is Preference Shares
A preference share contains features of equity and debt as the dividend payments to preference shareholders are fixed. The types of preference shares include cumulative preference shares – in...
...different types of share capital of a company:-
Preference Shares, Ordinary Shares, Deferred Shares, Redeemable Shares and Share Warrants to Bearer.
Preference Shares are shares which normally entitle the shareholders a priority to receive a fixed rate of dividend out of the profits of the Company (current year only) per annum. Different
classes of preference shares may exist. Preference shares are usually cumulative and non-participating. They cannot participate to further profits after dividend, except specified in terms of issue. Some preference shares are participating. Preference share do entitle the holder to preferential repayment of capital but not participate to surplus assets in case of winding up. The rights of each class of preference share will vary according to the company’s AOA and the specific terms of issue. The holders usually do not have voting rights at general meeting as the ordinary shareholders. In practice, the preference share holders are given the right to vote at the general meetings only if the dividend is in arrears, or there is a resolution to reduce capital or to wind up the company, or the resolution is likely to affect their class...
...-------------------------------------------------
Differences between preference shares and debentures
* Preference Shareholders ar debenture-holders are creditors.
* Preference Shareholders may vote at AGMs and be
debenture-holders may not vote at AGMs or be elected as directors.
* Preference Shareholders receive profit in t debenture-holders
receive a fixed rate of interest.
* If there is no profit, the shareholder does no interest is paid to debenture-holders regardless of whether or not a profit has been made.
* In case of dissolution of firms debenture holders are paid first as compared to shareholder.
The word ‘Debenture’ is derived from the Latin term debere which means “to borrow”. Share capital is the main source of finance of a joint stock company. Such capital is raised by issuing shares. Those who hold the shares of the company are called the shareholders and are owners of the company. Company may need additional amount of money for a long period. It cannot issue shares every time. It can raise loan from the public. The amount of loan can be divided into units of small denominations and the company can sell them to the public. Each unit is called a ‘debenture’ and holder of such units is called Debenture holder. The amount so...
...The prevailing trend of share/capital market has a direct impact on banking stability – evaluate the statement
This paper explains the workings of a stock market as well as its effects on a country’s economy. The main point of this paper of to prove that the volatility of a country’s capital market can have a negative effect on banking stability of a country. The fall of a country’s capital market could mean the demise of the country’s banking sector as well.
Explanation of the Stock Market
A stock is a partial ownership of a corporation, which is issued for sale in order for the corporation to generate money (to cover startup costs etc.). A stock entitles the owner to the growth and a share of profits and increments of the corporation. Stocks are issued at stock exchanges, which is where stocks are bought and sold. Each nation has its own major stock exchange. The Major stock exchange of Bangladesh is the Dhaka Stock Exchange (DSE). The largest stock exchange in the world is the New York Stock Exchange, located in the USA.
Stocks are initially priced by the corporation issuing the stock. After is has been issued in the stock exchange the market forces of the stock market determine its price. The price of stocks is determined by the forces of demand and supply much like the market forces in the market for goods and services. However, these fluctuations in the market forces occur due to several factors, such as, quarterly earnings,...
...1.2 ,4.
A share or stock is also known as an equity share as well. The equity share basically represents ownership in the company. When a company needs capital or money to operate, it generates the required funds by selling ownership in the company. This means that the company issues equity shares for a price and these shares represent ownership in the company for the one who purchases the shares. These
shares are an ownership in the company and give the owner the right to have a share in the profits of the firm.
Equity shares are the part of share capital.
Particularly, equity shares r dose share which r traded in da stock markets. Dese shares carry pany gave u dividend as u hav invested ur money in their company.but it is not necessary that each year u ill get dividend. It only disrtibuted only wen company is in profits.these shares r fully transferable
Equity Share Holders get Equity Shares of the Company while Preference Share Holders get Preference Shares.
EQUITY SHARES are shares whose profit sharing depends on the PROFIT MAKING of the Company.
If the company makes huge profits, there dividend sharing will be high else it will be low....
...the Company’s Act 1956, share means a part in the share capital of the company and it also includes stock except where a distinction between stock and share capital is made expressed or implied.
TYPES OF SHARES:
As per the provision of section 85 of the Companies Act, 1956, the share capital of a company consists of two classes of shares, namely:
1. Preference Shares
Equity Shares
PREFERENCE SHARES:
According to Sec 85(1), of the Companies Act, 1956, a preference share is one, which carries the following two preferential rights:
(a) The payment of dividend at fixed rate before paying dividend to equity shareholders.
(b) The return of capital at the time of winding up of the company, before the payment to the equity shareholder.
Both the rights must exist to make any share a preference share and should be clearly mentioned in the Articles of Association.
Preference shareholders do not have any voting rights, but in the following conditions they can enjoy the voting rights:
(1) In case of cumulative preference shares, if dividend is outstanding for more than two years.
(2) In case of non-cumulative preference shares, if dividend is outstanding for more...
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