Company Accounts - describe features of each Ordinary shares, Preference shares, and debentures.

May 5th, 2015
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Company accounts- Describe features of each of the following different types of capital. Ordinary shares, Preference shares, and debentures with examples.

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Company AccountsShort Questions And AnswersQ. Describe features of each of the following different types of capital.1. Ordinary Shares2. Preference Shares3. DebenturesAns. (1) Ordinary Shares: All companies must have ordinary share capital and generally the ordinary shares comprise the bulk of the companies capital. Their prominent features include:(a) Ordinary shares normally carry voting rights and in effect are the owners of the company.(b) The ordinary shares carry no right to a fixed dividend but are entitled to all profits left after payment of any preference dividend. Generally however, only a part of such profit is distributed and remaining part is retained in the form of reserves.(c) When a company wound up, the ordinary shares are entitled to the whole of the companys assets; after all of the liabilities and the preference shares (if

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