Multiple Choice Questions on A company want to redeem 12000 shares whose face value is 10 each at a redemption value of Rs 15 eac........... for SEBI Grade A ( Officer) Exam Preparation

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Multiple Choice Questions

A company want to redeem 12000 shares whose face value is 10 each at a redemption value of Rs 15 eac...........

Companies Act-Phase (I & II) Share capital and debentures
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    A company want to redeem 12000 shares whose face value is 10 each at a redemption value of Rs. 15 each. The company wants to redeem shares out of profits. Amount required to be transferred to CRR is-

    120000

    Correct Answer

    150000

    Incorrect Answer

    60000

    Incorrect Answer

    900000

    Incorrect Answer
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    Explanation:

    Nominal value of shares need to be transferred to CRR i.e. (12000*10= 120000)

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