In case of default in payment by shareholders, then _________ account needs to be debited for the default amount?

Calls In Advance

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Calls in Arrears

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Bank A/c

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Share Allotment

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Solution

The correct option is B
Calls in Arrears

In case of default in payment by shareholders, then calls in arrears account needs to be debited for the default amount.

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In case of default in the payment of allotment money, the bank account is debited with which amount?

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