Practice question

MCQ

Question

A company issued 10,000 shares of ₹10 each. Amount is payable as ₹ 2 on application, ₹ 5 on allotment and ₹ 3 on first and final call. A shareholder who had 1,000 shares failed to pay allotment and first call amount on due date. What will be the amount received by company against issue of shares?

Choose one · Correct answer highlighted

₹ 20,000 ₹ 92,000 Correct ₹ 1,00,000 ₹ 80,000

₹ 92,000 company accounts correct; share issue forfeiture pro-rata per Companies Act.

Share this question

Discussion

0 comments

Please log in to join the discussion.

No comments yet. Be the first to start the discussion.

Guides and insights connected to this topic

Molecular Biology 30 Aug 2023

IntroductionReal-Time PCR is a technique used to monitor the progress of a PCR reaction in real-time. At the same time, a relatively small a...

Genetic 25 Sep 2026

Understand genotypic ratios, how to calculate them for monohybrid, dihybrid and trihybrid crosses, and why they matter in Mendelian genetics.

25 Sep 2026

Learn the difference between dominant and recessive alleles, how homozygous and heterozygous genotypes express traits in plants, animals and humans.