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easyMCQCUET Accountancy 2025 2 June Shift 22026CUET Accountancy
1 mark

Under what condition is an amount shown under the head 'Subscribed and Fully Paid up Share Capital' in the Balance Sheet of a Company?

  1. A
    If shares are fully called up and there are Calls in Arrears
  2. B
    If shares are fully called up and there are no Calls in Arrears
  3. C
    If shares are partly called up and there are no Calls in Arrears
  4. D
    If shares are partly called up and there are Calls in Arrears

Solution & Step-by-step Explanation

According to Schedule III rules, shares fall into 'Subscribed and fully paid-up' only if the company has called up the entire nominal value of the share and has received every single penny without any outstanding defaults (i.e., zero calls in arrears). If any amount is uncalled or unpaid, it falls under 'Subscribed but not fully paid-up'.

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Under what condition is an amount shown under the head 'Subscribed and Fully Paid up Share Capital' in the Balance Sheet of a Company?
A
If shares are fully called up and there are Calls in Arrears
B
If shares are fully called up and there are no Calls in Arrears
C
If shares are partly called up and there are no Calls in Arrears
D
If shares are partly called up and there are Calls in Arrears

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