Practicing Success

Target Exam

CUET

Subject

Accountancy

Chapter

Accounting for Shares

Question:
Which of the following is one of the conditions, in addition to others, for allotment of shares?
Options:
Resolution in General Meeting
Receiving Minimum Subscription
Full Subscription by Public
None of the above
Correct Answer:
Receiving Minimum Subscription
Explanation:
Minimum subscription refers to the minimum amount which a company should raise at the time of issuing capital. The requirement for minimum subscription applies to all companies which raise funds from the public.