Write the effect of forfeiture of shares on Shareholder. Answer... MP Board Class-12 BOOK KEEPING AND ACCOUNTANCY question answer collection

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Que : 66. Write the effect of forfeiture of shares on Shareholder.
Answer: The liability of a person whose shares have been forfeiture comes to an end when the company receives the payment in full of all such money in respect of shares forfeited. A member is liable for unpaid calls even after the forfeiture of shares.

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