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Question
Amount of Calls in Arrears is shown in the Balance Sheet ______.
Options
as deduction from issued capital
as deduction from subscribed capital
as addition to subscribed capital
on the assets side
MCQ
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Solution
Amount of Calls in Arrears is shown in the Balance Sheet as deduction from subscribed capital.
Explanation:
As per Schedule III of the Companies Act, 2013, the Calls in Arrears are shown in the Notes to Accounts of Share Capital as a deduction from Subscribed Capital (not from issued capital).
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Chapter 6: Company Accounts - Issue of Shares - OBJECTIVE TYPE QUESTIONS [Page 6.202]
