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We’ve put together some packs of study cards to help you brush up on key concepts before tests and exams. Use the drop down menus in the search boxes above to select the grade, subject and category of content you want to revise. We’re adding new packs of study cards all the time, so check back if you can’t find what you’re looking for or contact us to make a suggestion.

Grade 12 Accounting, Forms of business

Who are the members of a close corporation?

Grade 12 Accounting, Forms of business

The members are the owners of a close corporation.

Grade 12 Accounting, Forms of business

How does a close corporation differ from a company?

Grade 12 Accounting, Forms of business

A close corporation is also a separate legal person, which invests its members with limited liability. But, although close corporations are regulated, the legal requirements of companies are avoided.

Grade 12 Accounting, Forms of business

Define the authorised share capital of a company.

Grade 12 Accounting, Forms of business

Authorised share capital is the number of shares the company can issue as authorised by the Registrar of Companies.

Grade 12 Accounting, Forms of business

What information does the directors' report provide?

Grade 12 Accounting, Forms of business

The directors' report is compiled by the directors and given to the shareholders of the company. The directors of the business report on the state of the company, its performance and projections.

Grade 12 Accounting, Forms of business

Define the issued share capital of a company.

Grade 12 Accounting, Forms of business

The issued share capital is the number of shares a company has issued to the public at a certain price.

Grade 12 Accounting, Forms of business

What is does nominal value refer to?

Grade 12 Accounting, Forms of business

Nominal value is the authorised value given to each unit or ordinary share of a company. Nominal value is also called par value.

Grade 12 Accounting, Forms of business

What is the retained income of a company?

Grade 12 Accounting, Forms of business

The retained income is the profit of a company or close corporation that remains after dividends and income tax have been taken into account.

Grade 12 Accounting, Forms of business

Who are the shareholders of a company?

Grade 12 Accounting, Forms of business

The shareholders are the owners of the company.

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