Question

12. Which of the following
statement is false?
(1) Interest on calls-in-advance is paid
from the date of receipt of advance to
the date of relevant call
(2) Interest on calls-in-advance is paid
from the date of receipt of advance to
the date of appropriation to the relevant
call
(3) Interest on calls-in-advance is paid at
the rate of 12%p.a
O
(4) Payment of interest on calls-in-
advance in at the discretion of the
company​

Answer 1

Answer:

Thanx for free points dear

Answer 2

☆Here is ur 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.