Question:medium
Reserve capital is that portion of the ______________ capital that can be called only in the event of winding up of the company.
Reserve capital is that portion of the ______________ capital that can be called only in the event of winding up of the company.
Show Hint
Reserve Capital = Uncalled Capital set aside by special resolution to be called only at winding up. It is also called "Reserve Liability." Remember: It is part of uncalled capital, not called-up or paid-up capital!
Updated On: Mar 9, 2026
- called-up
- uncalled
- paid-up
- subscribed
Show Solution
The Correct Option is B
Solution and Explanation
Was this answer helpful?
0
Top Questions on Company Accounts
- Atridatta Company Limited issued 10,000, 10% debentures of ₹ 100 each on 01.04.2024 at a discount of 10% and redeemable at a premium of 10%.
Pass journal entries relating to the issue of debentures and debenture interest for the period ending 31.03.2025 assuming that interest is paid half yearly on \(30^{\text{th}}\) September and \(31^{\text{st}}\) March, tax deducted at source is 10%.
- KSEAB Class XII - 2026
- Accountancy
- Company Accounts
- Supreme Company Limited issued 10,000 equity shares of ₹ 100 each at a premium of ₹ 10 per share. The amount payable is as follows :
On application ₹ 20
On allotment ₹ 50 (including premium)
On first and final call ₹ 40.
All the shares were subscribed and money duly received except the first and final call on 500 shares.
The directors forfeited these shares and re-issued them as fully paid-up at ₹ 80 per share.
Pass the necessary journal entries regarding issue, forfeiture and re-issue of shares.
- KSEAB Class XII - 2026
- Accountancy
- Company Accounts
- Give the meaning of over subscription.
- KSEAB Class XII - 2026
- Accountancy
- Company Accounts
- State any one type of shares.
- KSEAB Class XII - 2026
- Accountancy
- Company Accounts
- Want to practice more? Try solving extra ecology questions todayView All Questions
