If a share of Rs. 50, on which Rs. 40 has been paid up is forfeited, it can be reissued at the minimum price of __________.
Answer & explanation
Correct answer: option 4
The correct answer is Option (4) → Rs. 10 per share
Forfeited shares may be reissued at a discount, but the discount cannot exceed the amount already received on them. So the lowest reissue price is the face value less the amount paid.
Face value = Rs. 50
Amount paid and forfeited = Rs. 40
Maximum discount = Rs. 40
Minimum reissue price = Rs. 50 − Rs. 40 = Rs. 10 per share
Note: NTA picked this question from an NCERT (2026-27) exercise and changed the figures. Do not ignore NCERT while practising numericals.
NCERT (2026-27 edition):
|
