Question : Interest on calls in arrears is charged according to Table F at-
Option 1: 10%
Option 2: 12%
Option 3: 5%
Option 4: 6%
Correct Answer: 10%
Solution : Calls in arrears refer to the unpaid portion of the share price of shares that have been issued by a company. Companies have the authority to charge interest on unpaid calls as a means of encouraging shareholders to fulfill their obligations promptly and to compensate the company for the delay in receiving payment. According to the Table F of the Companies Act, 2013, interest on calls in arrears is 10%. Hence, the correct answer is option 1.
Question : What is the interest rate on calls in advance?
Option 1: 5% P.A
Option 2: 6% P.A
Option 3: 10% P.A
Option 4: 12% P.A
Question : If p : q : r = 2 : 5 : 3 and r : s = 6 : 5, then what is the value of p : q : r : s?
Option 1: 4 : 12 : 7 : 3
Option 2: 4 : 10 : 6 : 5
Option 3: 6 : 5 : 8 : 10
Option 4: 8 : 12 : 7 : 8
Question : In the absence of a partnership agreement, interest on partners' drawings is charged:
Option 1: @ 8% p.a.
Option 2: @ 9% p.a.
Option 3: @12% p.a.
Option 4: No interest is charged.
Question : The simple interest on a sum for 5 years is $\frac{3}{5}$th of the sum. The rate of interest per annum is:
Option 3: 8%
Option 4: $12\frac{1}{2}$%
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