Q.That part of share capital which can be called up only on the winding up of a company is called :

Capital callable only on winding up = Reserve capital — option (a).

Reserve capital is the part of the uncalled share capital that a company, by special resolution, decides to call up only in the event of its winding up. It acts as a cushion for creditors at liquidation.

Do not confuse it with the distractors:

• (b) Authorised capital — the maximum capital a company is permitted to raise. …