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Question
Answer in one sentence only.
When are shares allotted on pro-rata basis?
One Line Answer
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Solution
Shares are said to allotted on pro-rata basis when the applications are received for more shares than the number of shares issued and shares are allotted in proportion of the number of shares applied for.
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Chapter 8: Company Accounts - Issue of Shares - Exercise 8.1 (Objective Questions) [Page 340]
