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Consider the following statements Assertion (A) If a shareholder fails to...

This question belongs to Commerce Accounting
Accounting
?

Consider the following statements:
Assertion (A): If a shareholder fails to pay the amount of one or more calls on his shares, the company may forfeit his shares.
Reason (R): Even after the forfeiture of shares, that shareholder is responsible to pay the amount due from him until the company receives full amount on those shares.
Now select your answer:

Answer & Solution
Correct Answer: Option C
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