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Adjustment of Accumulated Reserves

The part of t...

Question

The part of the capital which will be called up only in the event of winding up of the company is called _____ capital.

A

issued

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B

paid-up

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C

reserve

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D

uncalled

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Solution

The correct option is B reserve
Uncalled capital may be converted in to reserve capital. Reserve capital will be called at the time of winding up of the company to meet the liabilities.

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