Limited companies

Question 1

Define limited company

Answer 1

A legsl entity which has a separate identity from it’s shareholders whose liability for the company’s debts is limited

Question 2

Define issued share capital

Answer 2

The amount of capital issued to the shareholders

Question 3

Define called up capital

Answer 3

Is the part of the issued share capital for which payments has been requested from shareholders

Question 4

Define paid up capital

Answer 4

That part of the called up capital for which the company has received payment from shareholders

Question 5

Preference shares