Company Accounts

Share Capital

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If company has not received minimum subscription , the company shall forthwith refund the entire subscription amount received. If a delay occurs

Beyond 15 days from the date of closure of subscription list, the company shall be liable to pay the amount with interest.

Beyond 8 days from the date of closure of subscription list, the company shall be liable to pay the amount with interest.

Beyond 10 days from the date of closure of subscription list, the company shall be liable to pay the amount with interest.

Beyond 80 days from the date of closure of subscription list, the company shall be liable to pay the amount with interest.

✅ Correct Option: 2

NCERT states that if the minimum subscription is not received, the entire subscription amount received must be refunded. If this refund is delayed beyond 8 days from the date of closure of the subscription list, the company becomes liable to repay the amount with interest at 15%.

Therefore, as per NCERT and NTA's official answer key, Option 2 is correct.

2026: 31 May Shift 1

Authorised capital is the amount of share capital which a company is authorised to issue by its:

2025: 13 May Shift 1

Which of the following is not the characteristics of company-

2022: 16 July Shift 2

When the purchase consideration is more than net assets taken over, the difference will be debited to

2026: 20 May Shift 1

200 shares of Rs.100 each issued at a premium of Rs.10 were forfeited for the non-payment of allotment money of Rs.60 per share including premium. The first and final call of Rs.20 per share on these shares were not made. The forfeited shares were reissued at Rs.70 per share as fully paid-up. Find the amount of capital reserve.

2026: 11 May Shift 2

____________is available only for the creditors on winding up of the company

2026: 6 June Shift 1

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

If company has not received minimum subscription , the company shall forthwith refund the entire subscription amount received. If a delay occurs

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