The maximum amount of discount on re-issue of forfeited shares shall be __________.

CS Executive · Corporate and Management Accounting · PYQS · June 2022
The maximum amount of discount on re-issue of forfeited shares shall be __________.
(A) Not exceeding the called-up amount of shares
(B) Equal to or exceeding the forfeited amount
(C) Not exceeding the amount credited to Shares Forfeited Account
(D) Amount of premium received on original issue of shares

Answer & Explanation:

Correct Answer: Option (C)

Official answer key: (C).

Topics: Corporate Accounting

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