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Question
Reserve Capital is a part of ______.
Options
Paid-up Capital
Forfeited Share Capital
Assets
Capital to be called up only on liquidation of company
MCQ
Fill in the Blanks
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Solution
Reserve Capital is a part of Capital to be called up only on liquidation of company.
Explanation:
Reserve Capital is the specified portion of uncalled share capital that, by resolution, may be called only on winding up,it isn’t paid-up, forfeited, or an asset.
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Chapter 6: Company Accounts - Issue of Shares - OBJECTIVE TYPE QUESTIONS [Page 6.200]
