Q.Which of the following statement is false ?

Statement (d) is false: in under-subscription subscribed capital is less than issued capital, not more.

In the Tamil Nadu HSC Class-12 Accountancy syllabus, the kinds of share capital rank as: authorised ≥ issued ≥ subscribed ≥ called-up ≥ paid-up. Testing each statement:

• (a) Reserve capital can be called only at the time of winding up — true.
• (b) Issued capital can never exceed authorised capital — true (a company cannot issue more than it is authorised to).
• (c) Paid-up capital is part of called-up capital — true (paid-up = called-up minus calls-in-arrears). …