A proprietary company must have at least one shareholder and cannot have more than:

Select one:

a. 100 shareholders.

b. 500 shareholders.

c. 20 shareholders.

d. 50 shareholders.

2.

Which statement below is true about the underwriting of shares?

Select one:

a. Underwriting is required when the shares are over-subscribed.

b. Underwriting will avoid having to refund monies due to under-subscription.

c. Underwriting services are offered free of charge.

d. Underwriting will require refunding excess application monies to unsuccessful applicants.

3.

Small proprietary companies must satisfy at least two of the following criteria:

Select one:

a. Annual gross operating revenue <$100 million, Gross assets<$25 million, Number of employees<50.

b. Annual gross operating revenue >$100 million, Gross assets>$25 million, Number of employees>50.

c. Annual gross operating revenue >$50 million, Gross assets>$25 million, Number of employees>100.

d. Annual gross operating revenue < $50 million, Gross assets < $25 million, Number of employees < 100.

4.

When a lease is classified as a finance lease:

Select one:

a. the lessor does not transfer substantially all the risks and rewards incidental to ownership of the underlying asset to the lessee.

b. the lessor transfers the ownership of the asset to lessee.

c. the lessor continues recognising the underlying asset in the lessors books.

d. the lessor transfers substantially all the risks and rewards incidental to ownership of the underlying asset to the lessee.

5.

Micro Limited has shown a prepaid rent balance of $8,000 under current assets in their balance sheet. The tax rate is 30%. The deferred tax item to be recognised by Micro Limited is:

Select one:

a. Deferred tax liability of $8,000.

b. Deferred tax asset of $2,400.

c. Deferred tax asset of $8,000.

d. Deferred tax liability of $2,400.

Don't need any explanation please give me the correct answer only of all the questions please