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Disclosure in Balance Sheet

Amount of Cal...

Question

Amount of Calls in Advance is _____________.

A

Added to Share Capital

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B

Deducted from Share Capital

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C

Shown on the Asset side

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D

Shown on the Equity & Liabilities side

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Solution

The correct option is D
Shown on the Equity & Liabilities side

Amount of Calls in Advance is shown on the Equity & Liabilities side.

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Disclosure in Balance Sheet

Standard XII Accountancy

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