Practicing Success
The second installment collected by the company on its issued shares is called: |
Application Money Allotment Money First call Second call |
Allotment Money |
The first instalment is collected along with application and is thus, known as application money, the second on allotment (termed as allotment money), and the remaining instalments are termed as first call, second call and so on. The word final is suffixed to the last instalment. |