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Q.3 State True or False give brief reason for your selection at the space provided below the question. (20) (Summer-2006)
xvi. In a partnership account, liability for debt of each partner is limited to his contribution in the firmâs capital.
7.3.2 Dissolution of Partnership by death
Q.3 State True or False give brief reason for your selection at the space provided below the question. (20) (Summer-2006)
vii. In case of death of a partner, the banker must stop operation on the account if it has credit balance
7.3.3 Problems of insolvency
7.3.4 Documents to be obtained
7.4 Joint Stock Companies
7.4.1 Companies accounts
(i) General Principles
(ii) Unincorporated associations accounts
(iii) An Unincorporated association does not have an independent legal Personality
7.4.2 Statutory Companies
Q.3 State True or False give brief reason for your selection (30) (Winter-2006
xx In a company incorporated under the Companies Ordinance 1984 with share capital the liability of a shareholder is limited to the amount of his share.
7.4.3 Limited Companies
Documents to be obtained
7.4.4 Memorandum & Articles of Association
7.4.4.1 Memorandum
7.4.4.2 Articles
7.4.5 Certificate of Incorporation
7.4.6 Certificate of Commencement of Business
Q.2 Please write the alphabet of selected answer in the column. (10) (Summer-2006)
vii. For opening of account of limited company you require certificate of commencement of business if the company is
A) Private company only
B) Public Company only
C) Both for Private and Public
D) None of the above
7.4.7 Balance Sheet
7.5 Associations, Clubs and Societies
7.5.1 Documents to be obtained
7.6 Account opened by agents
7.6.1 Documents to be obtained
Q.3 State True or False give brief reason for your selection at the space provided below the question. (20) (Summer-2006)
v. The authority of agent is cancelled automatically when he is declared insolvent
7.7 Trust Accounts
7.7.1 General Principles
7.7.2 Duty of the Bank
7.7.4 Documents to be obtained
7.8 Executorsâ / Administrator accounts
7.8.1 Documents to be obtained
7.9 Accounts of Local Bodies
7.10 Shares Subscription Account
Q.3 State True or False give brief reason for your selection at the space provided below the question. (20) (Summer-2006)
xvi. In a partnership account, liability for debt of each partner is limited to his contribution in the firmâs capital.
7.3.2 Dissolution of Partnership by death
Q.3 State True or False give brief reason for your selection at the space provided below the question. (20) (Summer-2006)
vii. In case of death of a partner, the banker must stop operation on the account if it has credit balance
7.3.3 Problems of insolvency
7.3.4 Documents to be obtained
7.4 Joint Stock Companies
7.4.1 Companies accounts
(i) General Principles
(ii) Unincorporated associations accounts
(iii) An Unincorporated association does not have an independent legal Personality
7.4.2 Statutory Companies
Q.3 State True or False give brief reason for your selection (30) (Winter-2006
xx In a company incorporated under the Companies Ordinance 1984 with share capital the liability of a shareholder is limited to the amount of his share.
7.4.3 Limited Companies
Documents to be obtained
7.4.4 Memorandum & Articles of Association
7.4.4.1 Memorandum
7.4.4.2 Articles
7.4.5 Certificate of Incorporation
7.4.6 Certificate of Commencement of Business
Q.2 Please write the alphabet of selected answer in the column. (10) (Summer-2006)
vii. For opening of account of limited company you require certificate of commencement of business if the company is
A) Private company only
B) Public Company only
C) Both for Private and Public
D) None of the above
7.4.7 Balance Sheet
7.5 Associations, Clubs and Societies
7.5.1 Documents to be obtained
7.6 Account opened by agents
7.6.1 Documents to be obtained
Q.3 State True or False give brief reason for your selection at the space provided below the question. (20) (Summer-2006)
v. The authority of agent is cancelled automatically when he is declared insolvent
7.7 Trust Accounts
7.7.1 General Principles
7.7.2 Duty of the Bank
7.7.4 Documents to be obtained
7.8 Executorsâ / Administrator accounts
7.8.1 Documents to be obtained
7.9 Accounts of Local Bodies
7.10 Shares Subscription Account