Question:
If a share of ₹100 on which ₹70 has been paid is forfeited, then at which minimum price can it be re-issued?
If a share of ₹100 on which ₹70 has been paid is forfeited, then at which minimum price can it be re-issued?
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Shares can be re-issued at a discount, but the total discount should not exceed the amount forfeited.
Updated On: Jan 27, 2025
- ₹100
- ₹30
- ₹70
- ₹130
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The Correct Option is B
Solution and Explanation
For a forfeited share, the minimum re-issue price is the amount unpaid at the time of forfeiture. Here, the unpaid amount is:
\[
₹100 - ₹70 = ₹30.
\]
Thus, the minimum re-issue price is ₹30.
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