Question

An equity share of ₹10 fully called up on which ₹ 6 has been paid was forfeited for the non-payment of the balance amount. At which of the following minimum price can it be reissued?

Options

• ₹4

• ₹10

• ₹16

• ₹6

Answer 1

₹4

Explanation:

Reissue cannot be less than the amount unpaid on forfeited shares.