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What is meant by calls in advance? - Accountancy

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Question

What is meant by calls in advance?

Very Short Answer
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Solution

When a company accepts the amount of shares before making the call due from its shareholder, it is known as calls-in-advance.

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Chapter 6: Company Accounts - Issue of Shares - SHORT ANSWER QUESTIONS [Page 6.147]

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D. K. Goel Accountancy Volume 1 and 2 [English] Class 12 ISC
Chapter 6 Company Accounts - Issue of Shares
SHORT ANSWER QUESTIONS | Q 27. b | Page 6.147
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