Maharashtra State BoardHSC Commerce 12th Board Exam
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Select the Most Appropriate Answer from the Alternatives Given Below and Rewrite the Sentence : - Book Keeping and Accountancy

MCQ

Select the most appropriate answer from the alternatives given below and rewrite the sentence :
As per section 69 (3) of the Companies Act, 1956, the minimum amount payable on share application should be______________ percent.

Options

  • 10

  • 5

  • 20

  • 15

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Solution

As per section 69 (3) of the Companies Act, 1956, the minimum amount payable on share application should be 5 per cent.

Explanation: Minimum amount payable on share application should be 5% of the nominal value of the share.

  Is there an error in this question or solution?
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APPEARS IN

Micheal Vaz Accounts - Book Keeping and Accountancy HSC 12th Standard Maharashtra State Board
Chapter 10 Company Accounts Part - 1 (Accounting for Shares)
Exercise | Q 3 | Page 350
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