Which among the following statements is

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Target Exam

CUET

Subject

-- Accountancy Part A

Chapter

Accounting for Shares

Question:

Which among the following statements is NOT true.

Options:

Share application account is a personal account.

The director of a company must be a shareholder.

Paid up capital can exceed called up capital.

Capital reserves are created from capital profits.

Correct Answer:

The director of a company must be a shareholder.

Explanation:

The correct answer is Option (2) & (3) in NTA Answer key