A company issued 10,000 shares of ₹10 each at par, payable ₹2 on application, ₹3 on allotment, ₹5 on call. A shareholder holding 500 shares failed to pay call money. Calls-in-arrears amount is: MCQ with Answer and Explanation
A company issued 10,000 shares of ₹10 each at par, payable ₹2 on application, ₹3 on allotment, ₹5 on call. A shareholder holding 500 shares failed to pay call money. Calls-in-arrears amount is:
Explanation:
When starting from bank statement (pass book) balance, a deposit in transit must be added because it's not yet reflected in the bank statement.
Explanation:
The cash system violates the matching principle because it does not match the revenues of a specific period with the expenses incurred to generate them.
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