Reference no: EM131186427

Fill in the blanks with most appropriate words:

1. __________ is that portion of the lease payment that is not fixed in amount but is based on the future amount of a factor that changes other than with the passage of time.

2. A private company is not required to issue a __________ as it is prohibited by its articles from inviting general public to subscribe for its shares.

3. The requirements and conditions for repurchase of shares are termed under section _______________.

4. Where shares are purchased by a company on premium, the account of premium shall be charged to Share Premium Account of the company or in the absence of any balance therein, to __________ of the company.

5. There are two ways through which a company can reduce its paid up share capital. One of them is Repurchase of shares Section 95 A, that is applied to _________ companies only.

6. Under Section ____, where a company has passed a resolution for reducing its share capital, it may apply by a petition to the Court for an order confirming the reduction.

7. In case of NGOs, funds introduced by the sponsors and any accumulated surplus are shown as __________

8. Section ______ of Companies Ordinance 1984defines the rules for shares issues at premium.

9. The method of increase in share capital where the new shares are offered to people other than current shareholders, in case of public companies, subject to approval of Federal Government is known as _______________.

10. All money payable to the owner of a sole proprietorship is shown as __________.

11.  A liability is an obligation of an entity to transfer economic benefits as a result of __________ .

12. Debentures and Deferred liabilities are examples of ______________.

13. A ___________ is an obligation that derives from a contract (through its explicit or implicit terms), Legislation; or other operation of law.

14. IAS ________ distinguishes between provisions and contingent liabilities.

15. ________ is a present obligation which satisfies the rest of the definition of a liability, even if the amount of the obligation has to be estimated.