Prospectus – NBC Institute

AAA – Nov 2011 – L3 – SA – Q11 – Assurance Engagements

Identifies an item that may be excluded from an accountant’s report in a prospectus.

Question

The accountants’ report in a prospectus may not contain ONE of the following items:

A. Summarised balance sheet of the company for the last five years
B. Evaluation of quoted and unquoted investments
C. Principal accounting policies
D. Movement in share premium account
E. Particulars of preliminary expenses

Answer

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Tags: Accountants' Report, Disclosure Requirements, Financial Reporting, Prospectus
Level: Level 3

Topic: Assurance Engagements
Series: NOV 2011

BCL – May 2019 – L1 – Q4 – Company Law

Discusses the rights of parties in share allotment and revocation under company law.

Question

On 1st January 2018, Parentsgold Ltd, a new and promising company, had its prospectus published. On 3rd January 2018, Frank Larry sent an application for GH¢100,000 worth of shares in Parentsgold Ltd. On the same 3rd January, Abena Manu submitted an application for GH¢50,000 worth of shares, but on 8th January 2018, she sent a mail revoking her application. Both applicants remitted the requisite application moneys on the day of their application.

Due to lack of a quorum, the Board of Directors of Parentsgold Ltd could not meet to consider the applications and allot shares until 15th September 2018. Frank Larry was informed on 16th September 2018 that his application had been accepted and that GH¢100,000 worth shares had been duly allotted to him, but he wrote back refusing the allotment.

Required: Advise the parties of their rights, if any.
(20 marks)

Answer

Find Related Questions by Tags, levels, etc.

Tags: Company Law, Contract Law, Prospectus, Revocation, Share Allotment
Level: Level 1

Topic: Contract Law
Series: MAY 2019

AAA – Nov 2011 – L3 – SA – Q11 – Assurance Engagements

Identifies an item that may be excluded from an accountant’s report in a prospectus.

Question

The accountants’ report in a prospectus may not contain ONE of the following items:

A. Summarised balance sheet of the company for the last five years
B. Evaluation of quoted and unquoted investments
C. Principal accounting policies
D. Movement in share premium account
E. Particulars of preliminary expenses

Answer

Find Related Questions by Tags, levels, etc.

Tags: Accountants' Report, Disclosure Requirements, Financial Reporting, Prospectus
Level: Level 3

Topic: Assurance Engagements
Series: NOV 2011

BCL – May 2019 – L1 – Q4 – Company Law

Discusses the rights of parties in share allotment and revocation under company law.

Question

Required: Advise the parties of their rights, if any.
(20 marks)

Answer

Find Related Questions by Tags, levels, etc.

Tags: Company Law, Contract Law, Prospectus, Revocation, Share Allotment
Level: Level 1

Topic: Contract Law
Series: MAY 2019

Question Tag: Prospectus

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AAA – Nov 2011 – L3 – SA – Q11 – Assurance Engagements

Identifies an item that may be excluded from an accountant’s report in a prospectus.

BCL – May 2019 – L1 – Q4 – Company Law

Discusses the rights of parties in share allotment and revocation under company law.

AAA – Nov 2011 – L3 – SA – Q11 – Assurance Engagements

Identifies an item that may be excluded from an accountant’s report in a prospectus.

BCL – May 2019 – L1 – Q4 – Company Law

Discusses the rights of parties in share allotment and revocation under company law.

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AAA – Nov 2011 – L3 – SA – Q11 – Assurance Engagements

Identifies an item that may be excluded from an accountant’s report in a prospectus.

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BCL – May 2019 – L1 – Q4 – Company Law

Discusses the rights of parties in share allotment and revocation under company law.

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AAA – Nov 2011 – L3 – SA – Q11 – Assurance Engagements

Identifies an item that may be excluded from an accountant’s report in a prospectus.

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BCL – May 2019 – L1 – Q4 – Company Law

Discusses the rights of parties in share allotment and revocation under company law.

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