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Question
When a company issues shares at a premium, amount of premium may be received by the company:
Options
Along with application money
Along with allotment money
Along with calls
Along with any of the above
MCQ
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Solution
Along with any of the above
Explanation:
When a company issues shares at a premium, the law does not fix any specific stage for its collection. The company may collect the premium along with application, allotment, or calls, as stated in the prospectus/terms of issue.
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Chapter 6: Company Accounts - Issue of Shares - OBJECTIVE TYPE QUESTIONS [Page 6.202]
