27. Mollie operates her consultancy business as a sole trader. She is considering whether to incorporate the business as Hodge Lid, in which she would hold 100% of the shares. She has been given four items of advice to help her make her decision. Which of the following items of advice is accurate? A Hodge Ltd will have limited liability for business debts Mollie will take drawings from Hodge Ltd. C Hodge Ltd's shares can be issued to the public On Mollie's death Hodge Ltd will not have to be wound up
27. Mollie operates her consultancy
business as a sole trader. She is considering whether to incorporate the
business as Hodge Lid, in which she would hold 100% of the shares. She has been
given four items of advice to help her make her decision.
Which of the following items of
advice is accurate?
A Hodge Ltd will have limited
liability for business debts
- Mollie will take drawings from
Hodge Ltd.
C Hodge Ltd's shares can be issued
to the public
- On Mollie's death Hodge Ltd will
not have to be wound up
28. The following two statements
have been made about the accounting and suditing professions.
(1) Only a member of a CCAB or IFAC
body may refer to themselves as an accountant when dealing with clients and
members of the public
(2) The Financial Reporting Council
has statutory powers in relation to the regulatory framework for the auditing
profession which have been delegated by the govemment
Are these statements accurate or
inaccurate?
- Statement (1) Inaccurate,
Statement (2) Accurate
- Statement (1) Accurate,
Statement (2) Accurate
- Statement (1) Inaccurate,
Statement (2) Inaccurate
- Statement (1) Accurate,
Statement (2) Inaccurate
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