1. Following organization is responsible for its strategy aims to upgrade the sectors and maximize domestic and foreign investors confidence in the local market.
   1. Ministry of Commerce and Industry
   2. Capital Market Authority
   3. Muscat Securities Market
   4. None of the above

2. For a company, retained earnings represent:

1. Contributed capital from shareholders
2. Profits retained by the company before tax is paid to the government
3. Net cash retained by the company before any payment of dividends to shareholders
4. Profits retained by the company after payment of dividends and after any transfer to and from reserves

3. Right shares are issued to share holders

1. previous
2. existing
3. future
4. None of these

4. Bonds can be issued only

1. at par
2. at discount
3. premium
4. any of the above

5. LLC has maximum --.

1. 20 shareholders
2. 30 shareholders
3. 40 shareholders
4. 50 shareholders

6. Debentures are shown in the balance sheet under the heading
   1. unsecured loans
   2. current liabilities
   3. secured loans
   4. share capital

7. Entity X owns 90% of Entity Y. Early in the year, X lent Y OMR1,000,000. No payments have been made on the debt by year end. Proper accounting at year end in the consolidated financial statements would

1. Eliminate 100% of the receivable, the payable, and the related interest.
2. Eliminate 100% of the receivable and the payable but not any related interest.
3. Eliminate 90% of the receivable, the payable, and the related interest
4. Eliminate 90% of the receivable and the payable but not any related interest.

8. Which of the following criterion for a lease to be classified as a finance lease in the books of lessee?

1. The lease contains a bargain purchase option.
2. The lease does not transfer ownership of the property to the lessee.
3. The lease term is equal to 65% or more of the estimated useful life of the leased property.
4. The present value of the minimum lease payments is 70% or more of the fair market value of the leased property.

9. After a petition for bankruptcy liquidation has been filed and the court has issued an order for relief,

1. The court usually appoints a permanent trustee to take control of the debtors estate.
2. Creditors must immediately cease their collection activities
3. The bankruptcy judge notifies creditors, collects the debtors nonexempt property, and distributes that property to the creditors.
4. A meeting is held by the creditors to vote on a plan of reorganization.

10. A voluntary winding up means winding up by:

1. Members of creditors
2. Members of contributors
3. Contributors or creditors
4. Shareholders or court.