Company Accounts

Share Capital

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Where there is no articles of association of its own, select the correct provision of Table A of Companies Act.

The amount of call should not exceed 35% of the face value of the share.

A period of two months must elapse between two calls.

Calls must be made on uneven basis on all shares within the same class.

A minimum of 14 days' notice is given to the shareholders to pay the amount.

✅ Correct Option: 4

Under the model articles, a call cannot exceed 25 percent of face value, at least one month must elapse between two calls, calls must be uniform on all shares of a class, and shareholders must get at least 14 days' notice. Only the notice period statement is correct.

Note: The question cites Table A, the model articles under the earlier Act; the corresponding provisions today appear in Table F, and we have applied the same standard conditions.

2026: 31 May Shift 1

In the case of companies limited by shares, the liability of its members is:

2026: 6 June Shift 1

Select the features from the following which are related to Calls in Arrears:

(A) It reduces the paid-up capital

(B) It is debited where a company maintains its account.

(D) It is shown on Asset side of the Balance Sheet

Choose the correct answer from the options given below:

2025: 16 May Shift 1

Steel and Company purchased a machine from Safe Machine Limited for Rs. 4,80,000 and took over its liabilities of Rs. 3,00,000. As per the purchase agreement, Rs. 50,000 was paid in cash and balance by the issue of 2000 shares of Rs.100 each. What will be the amount of goodwill/capital reserve?

2025: 30 May Shift 1

The maximum amount of discount on the re-issue of forfeited shares will be :-

2026: 31 May Shift 1

In case of issue of shares, the 'minimum subscription' of capital cannot be less than .......... of the issued amount according to SEBI (Disclosure and Investor Protection) Guidelines, 2000.

2025: 29 May Shift 2

In a Journal Entry of Forfeiture of Shares, Share Capital Account will be :-

Where there is no articles of association of its own, select the correct provision of Table A of Companies Act.

Solution

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