KASNEB CPA Intermediate Practice Questions - KASNEB Certified Public Accountants (CPA) - Intermediate Level (CA21-CA26) Exam - KASNEB CPA Intermediate Practice Questions - KASNEB Certified Public Accountants (CPA)

Question 1

Under the Companies Act, 2015, a company registered in Kenya is best described as:

A body corporate with separate legal personality from its members An unincorporated association whose members have no limited liability A branch office of the Registrar of Companies A partnership whose partners share profits but lack corporate status

Correct Answer:

A body corporate with separate legal personality from its members

Question 2

Which combination of features typically identifies a private company under the Companies Act, 2015?

Minimum seven subscribers and mandatory stock exchange listing Restrictions on share transfers, a fifty-member limit, and no public share offers Unlimited liability of all members and no register of members Compulsory annual audit waiver and prohibition of directors

Correct Answer:

Restrictions on share transfers, a fifty-member limit, and no public share offers

Question 3

A promoter of a Kenyan company owes which duty BEFORE incorporation?

To avoid all pre-incorporation contracts on behalf of the proposed company To bind the unincorporated company to every contract they negotiate To disclose any secret profit or interest in transactions with the company To distribute preliminary profits to subscribers before incorporation

Correct Answer:

To disclose any secret profit or interest in transactions with the company

Question 4

A contract signed by a promoter before a company is incorporated:

Can only be enforced against the Registrar of Companies Automatically binds the company from the date of signing Is void and cannot be enforced by any party Is generally not binding on the company unless ratified or novated after incorporation

Correct Answer:

Is generally not binding on the company unless ratified or novated after incorporation

Question 5

The nominal value of a share in a company limited by shares represents:

The minimum amount a member agrees to contribute on a winding up, as stated in the memorandum The current market price on the Nairobi Securities Exchange The total assets of the company divided by directors The amount of tax payable when shares are issued

Correct Answer:

The minimum amount a member agrees to contribute on a winding up, as stated in the memorandum

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About this Exam

Prepare with the KASNEB CPA Intermediate Practice Questions - KASNEB Certified Public Accountants (CPA) - Intermediate Level (CA21-CA26) Exam practice quiz. This question bank includes 100 questions covering company, kenyan, cash, ifrs, and audit. Use it to review important concepts, identify knowledge gaps, and build confidence for the related exam, course, or assessment.

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KASNEB CPA Intermediate Practice Questions - KASNEB Certified Public Accountants (CPA) - Intermediate Level (CA21-CA26) Exam

This practice set contains 100 questions from the matching question bank and focuses on company, kenyan, cash, ifrs, and audit. Work through each question carefully, review the provided solutions, and revisit topics that need more study before your next attempt.

This is an independent study resource intended for practice and review; it is not an official examination or an endorsement by any organization named in the title.

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KASNEB CPA Intermediate Practice Questions - KASNEB Certified Public Accountants (CPA) - Intermediate Level (CA21-CA26) Exam

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