Reference no: EM132623884

Problem 1: A forfeited shares account is:

Option 1: an income account

Option 2: an expense account

Option 3: a liability account

Option 4: an asset account

Problem 2: According to paragraph 79 of AASB 101, an entity shall disclose the following, either in the statement of financial position or the statement of changes in equity, or in the notes for each class of share capital, except for:

Option 1: the number of shares authorised

Option 2: the number of shares issued and fully paid, and issued but not fully paid

Option 3: par value per share, or that the shares have no par value

Option 4: shares in the entity held by the entity or its competitors

Problem 3: A share option will give the holder the right to acquire shares at a particular price in the ___________.

Option 1: present

Option 2: future

Option 3: past

Option 4: None of the given answers are correct.