Q1213
Consider the following statements: Assertion (A): If a shareholder fails to pay the amount of one or more calls on his shares, the company may forfeit his shares. Reason (R): Even after the forfeiture of shares, that shareholder is responsible to pay the amount due from him until the company receives full amount on those shares. Now select your answer:
A.
Both A and R are true and R is the correct explanation of A
B.
Both A and R are true but R is not the correct explanation of A
C.
A is true but R is false
AnswerD.
A is false but R is true
Answer: Option C
Solution
Answer: Option C
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