Question

The following underwriting took place for Pioneer Ltd., which invited applications for 10,000 shares of ` 10 each : X : 6,000 shares Y : 2,500 shares Z : 1,500 shares In addition, there were firm underwriting as follows : X : 800 shares Y : 300 shares Z : 1,000 shares Total subscription including firm underwriting was 7,100 shares, and the forms included the following marked forms : X : 1,000 shares Y : 2,000 shares Z : 500 shares You are required to compute the underwriter’s liability in number of shares when the specific benefit of firm underwriting is to be given to the underwriters.

Answer 1

Friction is the force resisting the relative motion of solid surfaces, fluid layers, and material elements sliding against each other. There are several types of friction: Dry friction is a force that opposes the relative lateral motion of two solid surfaces in contact.