Question
Accountancy Question on Accounting for Share and Debenture Capital
A company can accept calls in advance, if authorized by
A
Shareholders
B
Board of Directors
C
Articles of Association
D
Memorandum of Association
Answer
Board of Directors
Explanation
Solution
As per the Companies Act, a company can accept calls in advance if authorized by the Board of Directors.
Hence, the correct answer is Option 2.