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CUET Accountancy 2025 PYQs24 May Shift 1. Free, no login required.

Company Accounts

past year questions, CUET Accountancy 2025 24 May Shift 1

Share Capital

past year questions, Company Accounts, CUET Accountancy 2025 24 May Shift 1

Easy

common

A minimum of ______ days' notice is to be given to the shareholders to pay the amount of any call :-

Solution

✅ Correct Option: 4

When a company issues shares, it may not collect the entire share price upfront. The unpaid portion is called upon later through "calls on shares."

Call on shares is a demand made by the company to shareholders to pay the remaining unpaid amount on their shares. This is done as per the terms decided by the Board of Directors.

As per Table F of the Companies Act, 2013, a company must give a minimum of 14 days' notice to shareholders before making any call on shares. This notice must specify:

  • The amount to be paid
  • The due date for payment
  • The place of payment

This notice period gives shareholders adequate time to arrange funds and make the payment. If payment is not made within the stipulated time, the company can charge interest on the unpaid amount and may even forfeit the shares in case of continued default.

Correct Answer: Option 4 (14 days)

Related questions:

2026: 6 June Shift 1

Balance of share forfeiture account is shown in the balance sheet under the item:

2026: 29 May Shift 2

In share capital, the amount on any call should not exceed ________ of the face value of shares.

2026: 29 May Shift 2

The director of Shah Ltd. resolved that 250 equity shares of Rs.100 each be forfeited for non-payment of the second and final call of Rs.30 per share. Out of these, 180 shares were re-issued at Rs.60 per share. The amount to be transferred to capital reserve account will be:

2025: 27 May Shift 2

Shares can be forfeited:

2022: 8 Aug Shift 2

As per the Companies Act, 1956, a company shall hold the first meeting of board of directors within how many days of the date of its incorporation?

2022: 8 Aug Shift 2

Bajaj Sales Ltd. issues 20,000 equity shares of Rs. 20 each to the public. The amount is payable as,

On application Rs. 4 per share

On allotment Rs. 4 per share

On first call Rs. 6 per share

On final call Rs. 6 per share

All money has been received on shares. Only one shareholder, who has 200 shares could not pay allotment money and his shares have been forfeited before making first call. Forfeited shares have been re-issued at Rs. 18 fully paid-up. What is the amount of capital reserve?

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