Home> Class-12> BOOK KEEPING AND ACCOUNTANCY >Q 64 |
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Que : 64. What is meant by Calls in Advance ? |
Answer: Calls-in advance: it means calls not due but paid by the shareholder in advance. Thus the amount of future calls is received in advance by the company. In other words, when a shareholder pays the whole amount or a part of the amount in advance. i.e, before the company calls, then it is termed as calls in advance. |