Question

11. Amount of Calls in Advance is
treated as​

Answer 1

Answer:

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Answer 2

Answer:

A company may pay interest on such amount received in advance at the rate of 12% p.a. No dividend is payable on this amount. It adjusts the amount of calls-in-advance for the payment of calls when they become due. Interest payable on Calls-in- Advance is a liability against the profits of the company.

Explanation:

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