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Short Answer Question What is Meant by Calls-in-advance? - Accountancy

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Short Answer Question

What is meant by Calls-in-Advance?

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Solution

Calls-in-Advance refers to a situation when a shareholder pays the whole amount or a part of the amount of shares before it become due, i.e. before the company calls for it. 
So, the amount of money that is being paid in advance at the earlier stages is termed as Calls-in-Advance.

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NCERT Class 12 Accountancy - Company Accounts and Analysis of Financial Statements
Chapter 1 Accounting for Share Capital
Short Answer Question | Q 7 | Page 64
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