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The interest on calls-in-advance is paid for the period from the _______.
  • a)
    Date of receipt of application money to the date of appropriation
  • b)
    Date of receipt of allotment money to the date of appropriation
  • c)
    Date of receipt of advance to the date of appropriation
  • d)
    Date of appropriation to the date of dividend payment
Correct answer is option 'C'. Can you explain this answer?
Most Upvoted Answer
The interest on calls-in-advance is paid for the period from the _____...
Explanation:
Calls-in-advance refers to the money paid by the shareholders to the company before the actual amount is due for payment. The interest on calls-in-advance is paid for the period from the date of receipt of advance to the date of appropriation. Let's understand the answer in detail:

Date of receipt of advance:
When the company asks its shareholders to pay some amount in advance, the shareholders pay the amount before the actual call is made. This amount is called the advance.

Date of appropriation:
The date on which the company decides to appropriate the advance towards the call money is called the date of appropriation. On this date, the company decides to use the advance paid by the shareholder towards the call money due.

Interest on calls-in-advance:
The company pays interest on the amount of advance paid by the shareholder. The interest is paid for the period from the date of receipt of advance to the date of appropriation. This means that the interest is calculated from the date on which the company receives the advance to the date on which the company decides to appropriate the advance towards the call money.

Conclusion:
Hence, option C is the correct answer. The interest on calls-in-advance is paid for the period from the date of receipt of advance to the date of appropriation.
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The interest on calls-in-advance is paid for the period from the _______.a)Date of receipt of application money to the date of appropriationb)Date of receipt of allotment money to the date of appropriationc)Date of receipt of advance to the date of appropriationd)Date of appropriation to the date of dividend paymentCorrect answer is option 'C'. Can you explain this answer?
Question Description
The interest on calls-in-advance is paid for the period from the _______.a)Date of receipt of application money to the date of appropriationb)Date of receipt of allotment money to the date of appropriationc)Date of receipt of advance to the date of appropriationd)Date of appropriation to the date of dividend paymentCorrect answer is option 'C'. Can you explain this answer? for CA Foundation 2024 is part of CA Foundation preparation. The Question and answers have been prepared according to the CA Foundation exam syllabus. Information about The interest on calls-in-advance is paid for the period from the _______.a)Date of receipt of application money to the date of appropriationb)Date of receipt of allotment money to the date of appropriationc)Date of receipt of advance to the date of appropriationd)Date of appropriation to the date of dividend paymentCorrect answer is option 'C'. Can you explain this answer? covers all topics & solutions for CA Foundation 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for The interest on calls-in-advance is paid for the period from the _______.a)Date of receipt of application money to the date of appropriationb)Date of receipt of allotment money to the date of appropriationc)Date of receipt of advance to the date of appropriationd)Date of appropriation to the date of dividend paymentCorrect answer is option 'C'. Can you explain this answer?.
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