Question

asn
1
(C) Realisation Account
(D) None of the above
12. What rate of interest does company pay on calls-in-advance if it has not prepared its own article of association​

Answer 1

Answer:

6%

Explanation:

Solution. If a company has not prepared its own Article of Association, then Table A of Companies Act, 1956 is applicable. According to Table A of Companies Act, interest on Calls-in-Advance @ is payable at 6% p.a.