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Company Accounts: Share Issue, Forfeiture & Redemption
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QuestionClick to flip
According to Table A (16), if a sum called in respect of a share is not paid before or on the day fixed for payment, the person from whom the sum is due shall pay interest. What is the rate of interest on call-in-arrears?
AnswerClick to flip back
A
5% p.a.
5% p.a.
💡 Explanation:
According to Table A (16), the rate of interest on call-in-arrears is 5% p.a.