If interest on calls-in-advance is not mentioned in the articles then the rate must be decided by the Board of Directors subject to a maximum of 12% p.a. as per :
CS Executive · Corporate and Management Accounting · PYQS · June 2024
If interest on calls-in-advance is not mentioned in the articles then the rate must be decided by the Board of Directors subject to a maximum of 12% p.a. as per :
Answer & Explanation:
Correct Answer: Option (C)
Official answer key: (C).
Topics: Corporate Accounting
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