Question :Which of the following statements is true ?
(A) The shares of a public limited company are not freely transferable.
(B) Paid up capital is that part of the subscribed capital which has
been called up.
(C) The company cannot raise more capital than the amount of
capital as specified in the Memorandum of Association.
(D) The part of the uncalled capital which is called only in the event
of winding up of the company is called Capital Reserve.
The correct answer is -(B) Paid up capital is that part of the subscribed capital which has been called up.
