{"id":44511,"date":"2024-04-15T21:44:47","date_gmt":"2024-04-15T21:44:47","guid":{"rendered":"https:\/\/exam.pscnotes.com\/mcq\/?p=44511"},"modified":"2024-04-15T21:44:47","modified_gmt":"2024-04-15T21:44:47","slug":"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","status":"publish","type":"post","link":"https:\/\/exam.pscnotes.com\/mcq\/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\/","title":{"rendered":"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:"},"content":{"rendered":"<p>\r\n    <!-- Check if it's an AMP page -->\r\n            <!-- Non-AMP version -->\r\n        <div class=\"mcq-container\" data-quiz-id=\"quizState_6a992afea3be1\">\r\n                                            <div class=\"option\" data-option-key=\"option1\" data-is-correct=\"true\">\r\n                    Both A and R are true and R is the correct explanation of A                <\/div>\r\n                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            <div class=\"option\" data-option-key=\"option3\" data-is-correct=\"false\">\r\n                    A is true but R is false                <\/div>\r\n                                            <div class=\"option\" data-option-key=\"option4\" data-is-correct=\"false\">\r\n                    A is false but R is true                <\/div>\r\n                            \r\n            <!-- Feedback messages for non-AMP -->\r\n            <div class=\"feedback\" data-feedback=\"wrong\">Answer is Right!<\/div>\r\n            <div class=\"feedback\" data-feedback=\"right\">Answer is Wrong!<\/div>\r\n        <\/div>\r\n\r\n        <script>\r\n        document.addEventListener('DOMContentLoaded', function () {\r\n            var containers = document.querySelectorAll('.mcq-container');\r\n\r\n            containers.forEach(function(container) {\r\n                var options = container.querySelectorAll('.option');\r\n                var feedbackSelect = container.querySelector('[data-feedback=\"select\"]');\r\n                var feedbackWrong = container.querySelector('[data-feedback=\"wrong\"]');\r\n                var feedbackRight = container.querySelector('[data-feedback=\"right\"]');\r\n\r\n                options.forEach(function(option) {\r\n                    option.addEventListener('click', function() {\r\n                        var selectedOption = option.getAttribute('data-option-key');\r\n                        var isCorrect = option.getAttribute('data-is-correct') === 'true';\r\n\r\n                        \/\/ Remove previous selections\r\n                        options.forEach(function(opt) {\r\n                            opt.classList.remove('correct', 'incorrect');\r\n                        });\r\n\r\n                        \/\/ Add the correct\/incorrect class\r\n                        if (isCorrect) {\r\n                            option.classList.add('correct');\r\n                            feedbackRight.hidden = false;\r\n                            feedbackWrong.hidden = true;\r\n                        } else {\r\n                            option.classList.add('incorrect');\r\n                            feedbackRight.hidden = true;\r\n                            feedbackWrong.hidden = false;\r\n                        }\r\n\r\n                        \/\/ Hide select feedback\r\n                        feedbackSelect.hidden = true;\r\n                    });\r\n                });\r\n            });\r\n        });\r\n        <\/script>\r\n    \r\n    <!--more--><\/p>\n<p>The correct answer is: A. Both A and R are true and R is the correct explanation of A.<\/p>\n<p>Assertion (A) is true because, according to the Companies Act, 2013, a company may forfeit the shares of a shareholder who fails to pay the amount of one or more calls on his shares.<\/p>\n<p>Reason (R) is also true because, even after the forfeiture of shares, the shareholder is still liable to pay the amount due from him until the company receives full amount on those shares.<\/p>\n<p>R is the correct explanation of A because it provides the reason why a company may forfeit the shares of a shareholder who fails to pay the amount of one or more calls on his shares.<\/p>\n<p>Here is a more detailed explanation of each option:<\/p>\n<ul>\n<li>Option A: Both A and R are true and R is the correct explanation of A. This is the correct answer because, as explained above, both A and R are true and R is the reason why A is true.<\/li>\n<li>Option B: Both A and R are true but R is <div class=\"telegram-channel-container\">\r\n        <a href=\"https:\/\/t.me\/pscnotes2025\" target=\"_blank\" class=\"telegram-channel-button\">\r\n            <span class=\"telegram-icon\">\r\n                <svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" viewBox=\"0 0 496 512\">\r\n                    <path fill=\"white\" d=\"M248,8C111,8,0,119,0,256s111,248,248,248s248-111,248-248S385,8,248,8z M362,177L320,367c-3,14-10,18-20,14l-56-41l-27,26 c-3,3-5,5-10,5l4-63L323,196c5-5-1-7-8-3l-98,62l-42-13c-9-3-10-9,2-14l162-63C351,160,365,164,362,177z\"\/>\r\n                <\/svg>\r\n            <\/span>\r\n            Join Our Telegram Channel\r\n        <\/a>\r\n    <\/div> not the correct explanation of A. This is not the correct answer because, as explained above, R is the correct explanation of A.<\/li>\n<li>Option C: A is true but R is false. This is not the correct answer because, as explained above, R is true.<\/li>\n<li>Option D: A is false but R is true. This is not the correct answer because, as explained above, A is true.<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>Subscribe on YouTube<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[85],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v22.2 (Yoast SEO v23.3) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>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:<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/exam.pscnotes.com\/mcq\/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\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"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. 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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:","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/exam.pscnotes.com\/mcq\/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\/","og_locale":"en_US","og_type":"article","og_title":"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. 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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. 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