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Forfeiture of Shares-Issued at Par

In case of no...

Question

In case of non-payment of call money by a shareholder, we debit calls in arrear account with the amount from the defaulter.

A

received

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B

not received

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C

not called up

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Solution

The correct option is B not received
In case of non-payment of call money by a shareholder, we debit calls in arrear account with the amount not received from the defaulter.

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