Question

GOLD Co. Ltd. declares a dividend of ` 10/- per share for F.Y. 2018-19.
a) Is company under default, if dividend was not paid within 30 days of its declaration ?
b) Is company right in transferring the unpaid dividend to its Debenture Reserve Account ?
c) Does the company have to transfer the amount of unpaid dividend to IEPF after 30 days.​

Answer 1

Explanation:

Anmol goes to State Bank of India to open a savings account there. On visiting the bank, ho

learns that there is a type of bank account which is better than the saving account the specialty

of this account is that as and when he deposited amount in the account exceeds a certain

amount, the amount in excess gets transferred into the fixeddeposit. The interest earned on the

fixed deposit account is more than that on the saving account. This account serves the purpose

of both the savings account and fixed deposit. Anmol gets this account opened.

Name & explain the type of bank account discussed in the above para.

jerte fenery and rower.