9:null 17:T52b,undefined When shares are forfeited by a company due to non-payment of allotment money or calls, the company regains ownership of those shares. As per the Companies Act, the company has **two options** regarding forfeited shares: **1. Cancel the shares** - The company may choose to cancel these shares permanently. In this case, the share capital of the company >=ts reduced. **2. Re-issue the shares** - The company may re-issue these shares to new or existing members. When re-issuing forfeited shares, the company has f<=xibility regarding the price: - Can be re-issued at **par** (face value) - Can be re-issued at **premium** (above face value) - Can be re-issued at **discount** (below face value) However, there is one important restriction: If re-issued at a discount, the discount amount cannot exceed the amount already forfeited on those shares. For examp<=, if ₹3 per share was forfeited, the maximum discount allowed on re-issue is ₹3 per share.

Options 1, 2, and 3 incorrectly state that forfeited shares can "**only**" be re-issued at premium, par, or discount respectively. This is wrong because the company has f<=xibility in pricing and also has the choice to cancel rather than re-issue. Option 4 correctly captures both possibilities availab<= to the company - either cancellation or re-issue.18:T52b,undefined When shares are forfeited by a company due to non-payment of allotment money or calls, the company regains ownership of those shares. As per the Companies Act, the company has **two options** regarding forfeited shares: **1. Cancel the shares** - The company may choose to cancel these shares permanently. In this case, the share capital of the company >=ts reduced. **2. Re-issue the shares** - The company may re-issue these shares to new or existing members. When re-issuing forfeited shares, the company has f<=xibility regarding the price: - Can be re-issued at **par** (face value) - Can be re-issued at **premium** (above face value) - Can be re-issued at **discount** (below face value) However, there is one important restriction: If re-issued at a discount, the discount amount cannot exceed the amount already forfeited on those shares. For examp<=, if ₹3 per share was forfeited, the maximum discount allowed on re-issue is ₹3 per share.

Options 1, 2, and 3 incorrectly state that forfeited shares can "**only**" be re-issued at premium, par, or discount respectively. This is wrong because the company has f<=xibility in pricing and also has the choice to cancel rather than re-issue. Option 4 correctly captures both possibilities availab<= to the company - either cancellation or re-issue.10:[["$","title","0",{"children":"CUET Accountancy - Which of the following is the correct statement in respect of Forfeited Shares :- | PYQs + Solutions | AfterBoards"}],["$","meta","1",{"name":"description","content":"$17"}],["$","link","2",{"rel":"manifest","href":"https://www.afterboards.in/manifest.json","crossOrigin":"$undefined"}],["$","meta","3",{"name":"keywords","content":"CUETACC,ACC,Company Accounts,Share Capital"}],["$","meta","4",{"name":"robots","content":"index, follow"}],["$","meta","5",{"name":"category","content":"education"}],["$","meta","6",{"name":"google-site-verification","content":"google"}],["$","meta","7",{"property":"og:title","content":"CUET Accountancy - Which of the following is the correct statement in respect of Forfeited Shares :- | PYQs + Solutions"}],["$","meta","8",{"property":"og:description","content":"$18"}],"$L19","$L1a","$L1b","$L1c","$L1d","$L1e","$L1f","$L20","$L21","$L22","$L23","$L24","$L25","$L26","$L27","$L28","$L29","$L2a"]

CUET Accountancy 2025 30 May Shift 1 PYQs

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