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Speculative and Precautionary Demands

As per Table ...

Question

As per Table A to the Companies Act, a company pays interest on calls in advance at the rate of __________.

A

5

%

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B

6

%

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C

10

%

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D

12

%

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Solution

The correct option is B $6$ %
According to Table A, interest payable on calls in advance is @ $6$ % p.a. Therefore, correct answer is (b).

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Similar questions

Q. As per Table A to the Companies Act, a company can charge interest on calls-in-arrears at the rate of ___________.

Q. As per Companies Act, 2013, the maximum rate of interest on calls in advance is .

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Q. Director of NSZ Ltd. made a final call of Rs. 50 per share on 1st August, 2015 indicating the last date of payment of call to be 31st August, 2015. Mr. Black holding 8,000 shares paid the call money on 15 June, 2015 along with first call-in-advance. The company has a policy of paying interest on calls-in-advance as per Table F of Schedule I to the Companies Act, 2013. Interest on calls-in-advance will be ______.

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