CA Foundation Exam > CA Foundation Questions > The rate of interest on calls-in-advance is p...
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The rate of interest on calls-in-advance is paid at A rate of:
- a)5% p.a.
- b)12% p.a.
- c)10% p.a.
- d)None of the above.
Correct answer is option 'B'. Can you explain this answer?
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The rate of interest on calls-in-advance is paid at A rate of:a)5% p.a...
The amount received will be adjusted towards the payment of calls as and when they become due. Table A of the Companies Act provides for the payment of interest on calls in advance at a rate of
12% per annumFree Test
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The rate of interest on calls-in-advance is paid at A rate of:a)5% p.a...
Explanation:
Rate of interest on calls-in-advance:
The rate of interest on calls-in-advance refers to the interest rate charged on the amount paid in advance by the company's shareholders. It is a form of financing where shareholders pay for their shares before they are actually issued.
Options:
a) 5% p.a.
b) 12% p.a.
c) 10% p.a.
d) None of the above
Correct answer:
The correct answer is option 'B' - 12% p.a.
Reasoning:
The rate of interest on calls-in-advance is not fixed by any regulatory authority and can vary from company to company. Companies may charge different rates based on various factors such as market conditions, financial position, and shareholder agreements.
In this case, the correct answer is option 'B' - 12% p.a. This means that the company charges an interest rate of 12% per annum on the amount paid in advance by shareholders.
It is important to note that the rate of interest on calls-in-advance can vary depending on the company and the terms agreed upon by the shareholders. The correct answer to this question may vary for different companies or scenarios.
Conclusion:
The rate of interest on calls-in-advance is not fixed and may vary from company to company. The correct answer to this question depends on the specific terms agreed upon by the shareholders and the company's policies. In this case, the correct answer is option 'B' - 12% p.a.
Rate of interest on calls-in-advance:
The rate of interest on calls-in-advance refers to the interest rate charged on the amount paid in advance by the company's shareholders. It is a form of financing where shareholders pay for their shares before they are actually issued.
Options:
a) 5% p.a.
b) 12% p.a.
c) 10% p.a.
d) None of the above
Correct answer:
The correct answer is option 'B' - 12% p.a.
Reasoning:
The rate of interest on calls-in-advance is not fixed by any regulatory authority and can vary from company to company. Companies may charge different rates based on various factors such as market conditions, financial position, and shareholder agreements.
In this case, the correct answer is option 'B' - 12% p.a. This means that the company charges an interest rate of 12% per annum on the amount paid in advance by shareholders.
It is important to note that the rate of interest on calls-in-advance can vary depending on the company and the terms agreed upon by the shareholders. The correct answer to this question may vary for different companies or scenarios.
Conclusion:
The rate of interest on calls-in-advance is not fixed and may vary from company to company. The correct answer to this question depends on the specific terms agreed upon by the shareholders and the company's policies. In this case, the correct answer is option 'B' - 12% p.a.
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