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Company Accounts: Share Issue, Forfeiture & Redemption

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Multiple Choice

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?

  1. 5% p.m.

  2. 5% p.a.
  3. 6% p.m.
  4. 6% p.a.
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