may be said to be the compulsory termination of membership by way of penalty for non-payment of allotment and/or any call money.

CS Executive · Corporate and Management Accounting · PYQS · June 2021
may be said to be the compulsory termination of membership by way of penalty for non-payment of allotment and/or any call money.
(A) Surrender of shares
(B) Forfeiture of shares
(C) Transfer of shares
(D) Transmission of shares

Answer & Explanation:

Correct Answer: Option (B)

Official answer key: (B).

Topics: Corporate Accounting

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