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Company Accounts – Issue of Shares — Book Keeping & Accountancy STD 12 Commerce / Arts — Question

Maharashtra BoardEnglish MediumSTD 12 Commerce / ArtsBook Keeping & AccountancyCompany Accounts – Issue of Shares2 Marks
Question
Directors can forfeit the shares for any reason.
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Answer

This statement is False.
After paying money on share application, When share applicant fails to pay the call money or premium on shares in spite of repeated reminders and warnings directors/company can forfeit the shares.

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