Question : Voluntary return of shares for cancellation by the shareholder is called-
Option 1: Cancellation of Shares
Option 2: Forefeiture
Option 3: Surrender of Shares
Option 4: None of the above
Correct Answer: Surrender of Shares
Solution : Shares that have been surrendered are those that the shareholder has chosen to return. Due to the shareholder's inability to pay the call money, shares are surrendered.
Hence the correct answer is option 3.