Question

What will be the correct sequence of events? 

(i) Forfeiture of shares.

(ii) Default on Calls.

(iii) Re-issue of shares.

(iv) Amount transferred to capital reserve.

Options:

(A) (i), (iv), (ii), (iii)

(B) (ii), (iv), (i), (iii)

(C) (ii), (i), (iii), (iv)

(D) (iii), (iv), (i) (ii)

Answer 1

(C) (ii), (i), (iii), (iv)

Correct answer is option (C) (ii), (i), (iii), (iv)