When shares originally issued at discount are forfeited, the discount in respect of them is to be ‐‐‐‐‐‐‐

Related MCQs

• The discount on re-issue of forfeited shares is debited to ---- a/c.
• Discount on reissue of forfeited shares should not exceed ………….
• The issue of shares at discount provided the discount does not exceed 10% as specified in ‐‐‐‐‐‐‐‐‐‐‐‐‐‐ ‐ of the companies Act.
• The rate of discount on issue of shares should not exceed …. % of the nominal value of shares.
• The profit on reissue of forfeited shares is transferred to ………
• The shares of a company only can be forfeited after giving a ………days notice
• The forfeited shares can be reissued at …………
• Profit on the re‐issue of forfeited shares is transferred to ‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐ account.
• Profit on re‐issue of forfeited shares will appear on the ‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐ side of the balance sheet.
• When shares are forfeited the share capital account is debited by ‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐