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PUBLIC COMPANY

Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA LW Exams › PUBLIC COMPANY

  • This topic has 3 replies, 2 voices, and was last updated 1 year ago by MikeLittle.
Viewing 4 posts - 1 through 4 (of 4 total)
  • Author
    Posts
  • August 11, 2023 at 9:45 am #689729
    whydoyoucare
    Participant
    • Topics: 50
    • Replies: 46
    • ☆☆

    The following statements relate to a public company.
    1 Its shares must be offered to the public
    2 It must have a minimum of 50,000 members
    3 It must have a minimum nominal capital of £50,000 in order to trade
    4 Its shares must be listed on a recognised stock exchange
    Which of the following gives the correct position?
    A 1, 3 and 4
    B 1, 2 and 3
    C 1, 2, 3 and 4
    D 3 only

    Is the answer A or D?

    August 11, 2023 at 3:31 pm #689748
    MikeLittle
    Keymaster
    • Topics: 27
    • Replies: 23327
    • ☆☆☆☆☆

    Yes! But what is your choice?

    August 13, 2023 at 7:47 am #689820
    whydoyoucare
    Participant
    • Topics: 50
    • Replies: 46
    • ☆☆

    You didn’t answer if it was A or D? I opted for D.

    August 13, 2023 at 9:11 am #689839
    MikeLittle
    Keymaster
    • Topics: 27
    • Replies: 23327
    • ☆☆☆☆☆

    I too opt for D. Looking at the options (poor question!) statement 3 MUST be correct. So all we now need to do is consider statement 1. If that too is correct, then we ned to consider statements 2 and 3.

    So, statement 1. Clearly incorrect – a public company may offer its shares to the public, but is not required to. So, if statement 1 is incorrect, that nullifies options A, B and C

    And that leaves option D as the correct one

    OK?

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