Question:
A share of \rupee100 on which \rupee80 is received is forfeited for non-payment of final call of \rupee20. The minimum price at which this share can be reissued is:
A share of \rupee100 on which \rupee80 is received is forfeited for non-payment of final call of \rupee20. The minimum price at which this share can be reissued is:
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The minimum reissue price for forfeited shares is equal to the unpaid amount on those shares.
Updated On: Jan 20, 2025
- \rupee120
- \rupee100
- \rupee80
- \rupee20
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Verified By Collegedunia
The Correct Option is D
Solution and Explanation
As per the Companies Act, forfeited shares can be reissued at a price not less than the unpaid amount on the shares.
In this case, the unpaid amount is \rupee20.
Therefore, the minimum price at which the share can be reissued is \rupee20.
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