Question

If a delay occurs beyond 8 days in refunding the subscription amount, failing to gather the minimum subscription, from the date of closure of the subscription list, the company shall be liable for interest at the rate of

• A. 12%
• B. 15%
• C. 6%
• D. 4%

Answer 1

The Correct Option is B

In accountancy, if a company does not receive the minimum subscription by the subscription list's closing date, a refund process begins. Legal provisions stipulate that if the refund exceeds 8 days past the subscription list's closure, the company must pay interest on the overdue sum.

The applicable interest rate for such delays is determined by industry-standard financial regulations and norms.

Evaluating the provided options:

Rate (%)	Interest Rate
12%	Not applicable
15%	Correct - applies when there is a delay
6%	Too low for delay penalties
4%	Lower threshold not suitable

Among the given choices, 15% is the correct interest rate. This rate is imposed as a penalty for failing to issue the refund within the mandated 8-day grace period.