1. What is the difference between a small proprietary company, a large proprietary company and a public company? 2. Distinguish between a private placement, a public share issue and a rights issue. Distinguish also between a renounceable rights issue and a non-renounceable rights issue. 3. How should a company account for its start-up costs and its share issue costs? How should a company account for the fees paid to the underwriter? 4. 'Preference shares can offer security of dividends and other advantages over ordinary shares, and are therefore the best equity to have in a company.' Do you agree? Explain