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A shareholder holds 1000 shares of 10 rupees each and has paid 6 rupees per share. His liability is limited to:
A1,000 rupees
B4,000 rupees
C6,000 rupees
D10,000 rupees
Answer & Solution
Correct answer: B. 4,000 rupees
1. The unpaid amount is 4 rupees a share.
2. Multiply that by 1000 shares.
3. The liability is 4,000 rupees.
_Source: NCERT Class 11 Business Studies, Chapter 7, Formation of a Company._
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