MCQOPTIONS
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MCQOPTIONS
| 1. |
When shares are forfeited, the Share Capital Ale is debited with __ and the Share Forfeiture Ale is credited with |
| A. | Paid-up capital of Shares Forfeited; called up capital of shares forfeited |
| B. | Called up capital of Shares Forfeited; Calls in arrear of shares forfeited |
| C. | Called up capital of Shares Forfeited; Amount received on shares forfeited |
| D. | Calls in arrears of Shares Forfeited; Amount received on shares forfeited |
| Answer» D. Calls in arrears of Shares Forfeited; Amount received on shares forfeited | |