Company Accounts

Share Capital

Easy

common

The period of how many month/months must elapse between two calls.

2 months

1 month

3 months

6 months

✅ Correct Option: 2

According to the Companies Act, a company cannot make calls on shares in quick succession. There must be a minimum interval of 1 month between two consecutive calls.

This provision ensures that shareholders get reasonable time to arrange funds and pay the called-up amount. The one-month gap is calculated from the date when the previous call became payable, not from the date of the call resolution.

Example: If the First Call becomes due on 15th January, the company can make the Second Call earliest from 16th February onwards (after one complete month has passed).

This rule protects shareholders from financial strain that could arise if multiple calls were made in rapid succession.

2025: 4 June Shift 2

Which of the following is not a feature of a company?

2023: 20 June Shift 2

Securities premium cannot be used:

2022: 16 July Shift 2

Amount transferred to Capital Reserve will be

2026: 29 May Shift 2

Rekha, a shareholder holding 500 shares of Rs. 10 each, did not pay the allotment money of Rs. 4 per share (including a premium of Rs. 2) and the first and final call of Rs. 3. Her shares were forfeited after the first and final call. What will be the amount to be shown under Share Forfeiture Account ?

2026: 11 May Shift 1

As 'Calls in Advance' is a liability of the company, it is under obligation, if provided by the Articles, to pay interest on that amount from the date of its receipt up to the date when the appropriate call is due for payment. According to "Table F", interest on calls in advance cannot exceed __________.

2026: 19 May Shift 1

Which of the following is not a feature of the company ?

The period of how many month/months must elapse between two calls.

Solution

Related questions:

Keyboard Shortcuts

CUET Accountancy Past Year Questions (Topic-Wise)