The Appropriate Account to Record Any Excess Application Money Received

question 46

Multiple Choice

The appropriate account to record any excess application money received and retained by a company to reduce allotment money due and in payment of future calls, is the:

• A) calls in arrears account.
• B) forfeited shares account.
• C) share capital account.
• D) calls in advance account.

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Definitions:

Commodity Chain

The linked sequence of processes involved in the production, distribution, and consumption of a commodity.

Exploitation System

A set of practices or arrangements through which individuals or groups are unfairly used for others' benefit, often in an economic context.

Production Process

A series of steps or actions taken to create a product or service.

United Nations

An international organization established after World War II to promote peace, security, and cooperation among the world's nations.