Accountancy Part AAccounting for Shares

Interest on calls in advance is provided at a rate not exceeding.....…

Interest on calls in advance is provided at a rate not exceeding............as per "Table F":

Answer & explanation

Correct answer: option 1

The correct answer is Option (1) → 12%

NCERT (2026-27 edition):
Calls in Advance – “… However, if Articles are silent on this account, Table F is applicable which provides for interest on calls in advance at a rate not exceeding 12% per annum.”