Match List-I with List-IIList–IList–II(A) Calls in Arrears(I) Shares are taken back by the company as shareholders failed to pay one or more installments, viz. allotment money and/or call money.(B) Calls in Advance(II) This is a situation where the number of shares applied for is less than the number for which applications have been invited for subscription.(C) Forfeiture of Shares(III) This is the amount which any shareholder fails to pay on allotment or on any of the calls.(D) Under Subscription(IV) Table 'F' of the Companies Act provides for the payment of interest on this call at a rate not exceeding 12% per annum.Choose the correct answer from the options given below:
- A(A) - (I), (B) - (II), (C) - (III), (D) - (IV)
- B(A) - (II), (B) - (I), (C) - (III), (D) - (IV)
- C(A) - (I), (B) - (II), (C) - (IV), (D) - (III)
- D(A) - (III), (B) - (IV), (C) - (I), (D) - (II)
Solution & Step-by-step Explanation
Let's break down the definitions and matches:(A) Calls in Arrears relates to statement (III): It represents the amount that shareholders failed to pay when called upon by the company.(B) Calls in Advance relates to statement (IV): This is money received before it is called up, and Table 'F' regulates that interest up to p.a. can be paid on it.(C) Forfeiture of Shares relates to statement (I): It refers to cancellation of shares and taking them back because of default in payment of calls.(D) Under Subscription relates to statement (II): This happens when the public applies for fewer shares than the amount offered by the company.Thus, the proper sequence is (A) - (III), (B) - (IV), (C) - (I), (D) - (II).