What Will Be The Correct Sequence of Events? (i) Forfeiture of Shares. (ii) Default On Calls - Bzziii.com

What will be the correct sequence of events? (i) Forfeiture of shares. (ii) Default on Calls. (iii) Re-issue of shares. (iv) Amount transferred to capital reserve. Options:

(A) (i), (iv), (ii), (iii)
(B) (ii), (iv), (i), (iii)
(C) (ii), (i), (iii), (iv)
(D) (iii), (iv), (i) (ii)

 

(C) (ii), (i), (iii), (iv) 

Explanation:

(1) Default on Calls ➡ (2) Forfeiture of shares ➡ (3) Re-issue of shares ➡ (4) Amount transferred to capital reserve

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CBSE Class 12 Accountancy Sample Paper-2022