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According to Rule 21 of KCS Rules, for a limited liability society, the value of a deceased member’s shares is primarily determined based on:

AThe market value of similar shares in other societies

BThe value stated in the deceased member's will

CThe latest audited balance sheet of the society

DThe book value of the shares as per the society's registration documents

Answer:

C. The latest audited balance sheet of the society

Read Explanation:

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