Arrange the following in proper sequence in the context of debenture.

(A) Receive application money

(B) Make final call due

(C) Issue of prospectus

(D) Adjustment of excess application money on allotment

Choose the correct answer from the options given below:

(C), (A), (D), (B)

The correct answer is option 4- (C), (A), (D), (B).

(C) Issue of prospectus – The company first issues a prospectus to invite the public to subscribe to the debentures. 

(A) Receive application money – Interested investors apply and send the application money.

(D) Adjustment of excess application money on allotment – If there's any excess money received (i.e. oversubscription), it is either refunded or adjusted towards allotment.

(B) Make final call due – After allotment, the company may make further calls (if debentures are not fully paid on application and allotment) for the remaining amount.