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Question

A company has to transfer the unclaimed dividend to which account?

A Unpaid Dividend account Correct Answer Incorrect Answer
B Accrued Dividend Account Correct Answer Incorrect Answer
C Investor Education and Protection Fund Correct Answer Incorrect Answer
D Capital Redemption Reserve Correct Answer Incorrect Answer
E Capital Reserve Correct Answer Incorrect Answer

Solution

In case where such dividend remained unpaid or unclaimed within 30 days from the date of declaration, the amount is transferred to ‘ Unpaid Dividend Account ’ within 7 days from expiry of such 30 day period  

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