GK
ACCOUNTING
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Which of the following reserves cannot be utilised for making the partly paid up shares fully paid up?
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Plant Revaluation Reserve
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Securities Premium Account
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Capital Redemption Reserve Account
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All of the above
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Explanation:
Detailed explanation-1: -Ensure that reserves created by revaluation of assets are not used for issue of Bonus Shares.
Detailed explanation-2: -Detailed Solution. The Workmen’s Compensation Fund cannot be used for redemption of preference shares.
There is 1 question to complete.